Agnico Eagle Mines (TSE:AEM) Price Target Lowered to C$300.00 at JPMorgan Chase & Co.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price target reduced by JPMorgan Chase & Co. from C$321.00 to C$300.00 in a research note released on Thursday,BayStreet.CA reports.

Several other equities research analysts have also issued reports on AEM. TD Securities lifted their price target on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Stifel Nicolaus lifted their price target on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. BMO Capital Markets lifted their price target on shares of Agnico Eagle Mines from C$350.00 to C$370.00 in a report on Wednesday. National Bank Financial lifted their price target on shares of Agnico Eagle Mines from C$330.00 to C$345.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Finally, Erste Group Bank lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus price target of C$323.20.

Agnico Eagle Mines Trading Down 2.2%

Shares of Agnico Eagle Mines stock opened at C$272.45 on Thursday. The firm has a market capitalization of C$136.49 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 22.97 and a beta of 1.87. The company has a current ratio of 2.02, a quick ratio of 0.89 and a debt-to-equity ratio of 1.68. The firm’s 50 day moving average is C$294.46 and its 200 day moving average is C$263.64. Agnico Eagle Mines has a 1 year low of C$144.21 and a 1 year high of C$348.94.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings results on Friday, February 13th. The company reported C$3.71 earnings per share (EPS) for the quarter. The company 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%. Equities research analysts forecast 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. Shareholders of record on Monday, March 16th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is presently 18.06%.

Insiders Place Their Bets

In other Agnico Eagle Mines news, insider Guy Gosselin sold 4,947 shares of the business’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 transaction of C$1,533,570.00. Following the sale, the insider directly owned 31,381 shares of the company’s stock, valued at C$9,728,110. The trade was a 13.62% decrease in their position. 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.