Agnico Eagle Mines (TSE:AEM) Announces Earnings Results

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) issued its quarterly earnings results on Friday. The company reported C$3.71 earnings per share for the quarter, FiscalAI reports. Agnico Eagle Mines had a return on equity of 5.05% and a net margin of 12.86%.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at C$295.07 on Friday. The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88. The firm’s 50 day moving average is C$260.55 and its 200-day moving average is C$232.41. Agnico Eagle Mines has a 1 year low of C$132.96 and a 1 year high of C$305.68. The firm has a market capitalization of C$148.14 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 22.97 and a beta of 1.54.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, December 1st. Agnico Eagle Mines’s dividend payout ratio is currently 23.39%.

Analysts Set New Price Targets

AEM has been the subject of several recent analyst reports. National Bank Financial increased their target price on Agnico Eagle Mines from C$300.00 to C$320.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Stifel Nicolaus lifted their target price on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. JPMorgan Chase & Co. set a C$337.00 price target on shares of Agnico Eagle Mines and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Finally, Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Buy” and an average target price of C$278.00.

Insider Activity at Agnico Eagle Mines

In other Agnico Eagle Mines news, insider Ammar Al-Joundi sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of C$243.40, for a total value of C$4,868,000.00. Following the completion of the transaction, the insider directly owned 54,917 shares of the company’s stock, valued at approximately C$13,366,797.80. The trade was a 26.70% decrease in their ownership of the stock. Also, insider James Porter sold 3,000 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of C$247.42, for a total value of C$742,260.00. Following the sale, the insider directly owned 7,734 shares of the company’s stock, valued at approximately C$1,913,546.28. The trade was a 27.95% decrease in their ownership of the stock. 0.08% of the stock is owned by insiders.

About Agnico Eagle Mines

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.