Agnico Eagle Mines (TSE:AEM) Reaches New 1-Year High at $113.99

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) shares reached a new 52-week high during trading on Friday . The stock traded as high as C$113.99 and last traded at C$113.60, with a volume of 415398 shares. The stock had previously closed at C$111.24.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Eight Capital lifted their target price on Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. National Bankshares set a C$104.00 price objective on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Monday, June 24th. Canaccord Genuity Group increased their target price on shares of Agnico Eagle Mines from C$105.00 to C$118.00 in a report on Tuesday, July 23rd. Finally, Cormark boosted their price target on shares of Agnico Eagle Mines from C$110.00 to C$115.00 in a report on Monday, June 24th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$105.14.

Agnico Eagle Mines Price Performance

The company has a market cap of C$56.65 billion, a PE ratio of 71.31, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 1.51 and a debt-to-equity ratio of 9.94. The firm has a 50 day simple moving average of C$104.86 and a 200-day simple moving average of C$92.00.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$1.46 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.27 by C$0.19. The business had revenue of C$2.84 billion for the quarter, compared to analysts’ expectations of C$2.36 billion. Agnico Eagle Mines had a net margin of 8.49% and a return on equity of 3.10%. As a group, research analysts predict that Agnico Eagle Mines Limited will post 5.3998976 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.547 per share. The ex-dividend date is Friday, August 30th. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $2.19 dividend on an annualized basis and a dividend yield of ∞. Agnico Eagle Mines’s dividend payout ratio is presently 139.10%.

Insider Transactions at Agnico Eagle Mines

In other news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of C$101.85, for a total transaction of C$2,546,250.00. In other Agnico Eagle Mines news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of C$101.85, for a total value of C$2,546,250.00. Also, Senior Officer Dominique Girard sold 20,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$113.49, for a total transaction of C$2,269,800.00. Insiders sold 99,000 shares of company stock valued at $10,681,477 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.