Agnico Eagle Mines Ltd. (AEM) Reaches New 52-Week High at $60.10
Agnico Eagle Mines Ltd. (NYSE:AEM)’s share price 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 firms have commented on AEM. Citigroup Inc. began coverage on shares of Agnico Eagle Mines in a research note on Tuesday. They issued a “sell” rating and a $44.00 price target for the company. BMO Capital Markets restated a “hold” rating and issued a $55.00 price target on shares of Agnico Eagle Mines in a research note on Thursday, July 28th. TD Securities restated a “hold” rating and issued a $56.00 price target on shares of Agnico Eagle Mines in a research note on Monday, July 25th. Zacks Investment Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Monday, July 18th. Finally, Dundee Securities downgraded shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $45.41.
The stock has a market capitalization of $12.94 billion and a PE ratio of 399.45. The stock has a 50-day moving average of $54.59 and a 200-day moving average of $43.04.
Agnico Eagle Mines (NYSE:AEM) last released its quarterly earnings results on Thursday, July 28th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.06. The firm had revenue of $537.60 million for the quarter, compared to analysts’ expectations of $507.37 million. During the same period last year, the firm earned $0.09 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts predict that Agnico Eagle Mines Ltd. will post $0.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be paid a dividend of $0.10 per share. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Tuesday, August 30th.
A number of hedge funds and institutional investors recently made changes to their positions in AEM. Gulf International Bank UK Ltd raised its position in shares of 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 valued at $1,768,000 after buying an additional 4,500 shares in the last quarter. State of Wisconsin Investment Board raised its position in shares of 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 valued at $4,944,000 after buying an additional 77,300 shares in the last quarter. Finally, Airain ltd bought a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.