Agnico Eagle Mines (TSE:AEM) Hits New 1-Year High – Time to Buy?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$154.00 and last traded at C$153.77, with a volume of 317523 shares trading hands. The stock had previously closed at C$149.58.

Wall Street Analyst Weigh In

AEM has been the topic of a number of research analyst reports. National Bankshares boosted their price objective on shares of Agnico Eagle Mines from C$160.00 to C$190.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. Stifel Canada raised Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. Royal Bank of Canada raised their price objective on Agnico Eagle Mines to C$105.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, National Bank Financial upgraded Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. Four analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$128.71.

Agnico Eagle Mines Stock Performance

The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 7.88. The stock has a fifty day moving average price of C$139.22 and a two-hundred day moving average price of C$123.14. The company has a market capitalization of C$53.91 billion, a price-to-earnings ratio of 53.57, a PEG ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.05%. Agnico Eagle Mines’s dividend payout ratio is currently 76.24%.

Insider Transactions at Agnico Eagle Mines

In other news, Senior Officer Carol-Ann Plummer-Theriault sold 5,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of C$150.99, for a total transaction of C$754,950.00. Also, Senior Officer Ammar Al-Joundi sold 17,936 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of C$111.84, for a total transaction of C$2,005,962.24. Insiders sold a total of 85,269 shares of company stock worth $10,634,722 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Agnico Eagle Mines Company Profile

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.