Agnico Eagle Mines Ltd. (AEM) Sets New 52-Week High at $60.10
Agnico Eagle Mines Ltd. (NYSE:AEM) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $60.10 and last traded at $59.85, with a volume of 615,413 shares traded. The stock had previously closed at $59.32.
Several research analysts have recently commented on the company. Citigroup Inc. assumed coverage on Agnico Eagle Mines in a research note on Tuesday. They issued a “sell” rating and a $44.00 price objective on the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Agnico Eagle Mines in a research note on Thursday, July 28th. TD Securities reaffirmed a “hold” rating and issued a $56.00 price objective on shares of Agnico Eagle Mines in a research note on Monday, July 25th. Zacks Investment Research raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Monday, July 18th. Finally, Dundee Securities downgraded Agnico Eagle Mines from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $45.41.
The firm has a market capitalization of $13.36 billion and a PE ratio of 412.21. The stock has a 50 day moving average price of $54.13 and a 200 day moving average price of $42.81.
Agnico Eagle Mines (NYSE:AEM) last announced its earnings results on Thursday, July 28th. The mining company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. During the same period in the previous year, the company earned $0.09 EPS. The firm had revenue of $537.60 million for the quarter, compared to analyst estimates of $507.37 million. Agnico Eagle Mines’s revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Agnico Eagle Mines Ltd. will post $0.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be given a $0.10 dividend. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.67%.
Other large investors recently bought and sold shares of the company. State of Wisconsin Investment Board raised its stake in Agnico Eagle Mines by 69.3% in the fourth quarter. State of Wisconsin Investment Board now owns 188,821 shares of the mining company’s stock worth $4,944,000 after buying an additional 77,300 shares during the period. Gulf International Bank UK Ltd raised its stake in Agnico Eagle Mines by 7.2% in the fourth quarter. Gulf International Bank UK Ltd now owns 67,228 shares of the mining company’s stock worth $1,768,000 after buying an additional 4,500 shares during the period. Finally, Airain ltd bought a new stake in Agnico Eagle Mines during the fourth quarter worth about $3,419,000.
Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.
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