Analysts Set Agnico Eagle Mines Limited (TSE:AEM) Target Price at C$314.50

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) has received an average recommendation of “Buy” from the nine brokerages that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$314.50.

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective 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. TD Securities boosted their target price on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. National Bank Financial increased their target price on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Erste Group Bank raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. Finally, JPMorgan Chase & Co. set a C$337.00 target price on shares of Agnico Eagle Mines and gave the company a “neutral” rating in a research note on Thursday, January 29th.

Agnico Eagle Mines Price Performance

TSE:AEM opened at C$248.30 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.89 and a current ratio of 2.02. The company has a 50-day moving average of C$292.88 and a 200-day moving average of C$253.08. Agnico Eagle Mines has a 52 week low of C$135.40 and a 52 week high of C$348.94. The company has a market capitalization of C$124.23 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 22.97 and a beta of 1.67.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its earnings results on Friday, February 13th. The company reported C$3.71 earnings per share for the quarter. The business had revenue of C$4.89 billion for the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. As a group, equities research analysts anticipate that Agnico Eagle Mines will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 16th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio is 18.06%.

Insider Activity

In related news, insider Guy Gosselin sold 4,947 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of C$310.00, for a total value of C$1,533,570.00. Following the completion of the sale, the insider owned 31,381 shares of the company’s stock, valued at 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 that occurred on Tuesday, December 23rd. The stock was sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the completion of the transaction, the insider owned 7,734 shares of the company’s stock, valued at C$1,913,546.28. This trade represents a 27.95% decrease in their position. 0.08% of the stock is owned by corporate 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.