Agnico Eagle Mines (TSE:AEM) Reaches New 1-Year High – Here’s What Happened

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) reached a new 52-week high on Thursday . The company traded as high as C$337.51 and last traded at C$337.09, with a volume of 707276 shares trading hands. The stock had previously closed at C$328.69.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. set a C$337.00 price objective on Agnico Eagle Mines and gave the company a “neutral” rating in a report on Thursday, January 29th. TD Securities raised their price target on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Stifel Nicolaus boosted their price target 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. Royal Bank Of Canada cut shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Erste Group Bank downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$272.60.

Agnico Eagle Mines Stock Up 2.6%

The firm’s fifty day moving average is C$273.69 and its 200-day moving average is C$239.87. The company has a market capitalization of C$168.65 billion, a P/E ratio of 38.05, a price-to-earnings-growth ratio of 22.97 and a beta of 1.54. The company has a debt-to-equity ratio of 7.88, a quick ratio of 0.89 and a current ratio of 1.75.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its earnings results on Friday, February 13th. The company reported C$3.71 earnings per share for the quarter. The firm had revenue of C$4.89 billion for the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. As a group, equities research analysts predict that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a yield of 0.5%. Agnico Eagle Mines’s payout ratio is currently 18.06%.

Insider Transactions at Agnico Eagle Mines

In other Agnico Eagle Mines news, insider Guy Gosselin sold 4,947 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of C$310.00, for a total value of C$1,533,570.00. Following the completion of the transaction, the insider directly owned 31,381 shares in the company, valued at approximately C$9,728,110. This trade represents a 13.62% decrease in their ownership of the stock. Also, insider James Porter sold 3,000 shares of the business’s stock in a transaction dated 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 owned 7,734 shares in the company, valued at approximately C$1,913,546.28. This trade represents a 27.95% decrease in their ownership of the stock. 0.08% of the stock is owned by corporate insiders.

Agnico Eagle Mines Company Profile

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.