Agnico Eagle Mines (TSE:AEM) Sets New 1-Year High on Analyst Upgrade

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) reached a new 52-week high on Tuesday after Stifel Nicolaus raised their price target on the stock from C$114.00 to C$140.00. The company traded as high as C$121.82 and last traded at C$121.35, with a volume of 314682 shares traded. The stock had previously closed at C$119.88.

AEM has been the topic of several other research reports. National Bankshares set a C$104.00 price target on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Monday, June 24th. Eight Capital upped their price target on Agnico Eagle Mines from C$105.00 to C$115.00 in a research note on Thursday, July 11th. Canaccord Genuity Group increased their price objective on Agnico Eagle Mines from C$105.00 to C$118.00 in a report on Tuesday, July 23rd. UBS Group upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Tuesday, September 17th. Finally, Cormark increased their price target on Agnico Eagle Mines from C$110.00 to C$115.00 in a report on Monday, June 24th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and an average target price of C$110.29.

Insider Buying and Selling at Agnico Eagle Mines

In other news, Senior Officer Jean Robitaille sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$113.42, for a total transaction of C$1,701,300.00. In other Agnico Eagle Mines news, Senior Officer Jean Robitaille sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$113.42, for a total value of C$1,701,300.00. Also, Director John Merfyn Roberts sold 2,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$112.32, for a total transaction of C$224,640.00. Insiders have sold 115,000 shares of company stock valued at $12,518,150 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Agnico Eagle Mines Stock Performance

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 stock has a market capitalization of C$60.94 billion, a price-to-earnings ratio of 75.48, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10. The stock’s 50-day simple moving average is C$108.99 and its 200 day simple moving average is C$97.72.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its earnings results on Wednesday, July 31st. The company reported C$1.46 EPS for the quarter, topping the consensus estimate of C$1.27 by C$0.19. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%. The business had revenue of C$2.84 billion for the quarter, compared to the consensus estimate of C$2.36 billion. Analysts expect that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.547 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 1.80%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 30th. Agnico Eagle Mines’s payout ratio is currently 135.63%.

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.