Agnico Eagle Mines (TSE:AEM) Reaches New 1-Year High – Here’s What Happened

by · The Markets Daily

Agnico Eagle Mines Limited (TSE:AEMGet Free Report) (NYSE:AEM) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$306.85 and last traded at C$303.95, with a volume of 190739 shares trading hands. The stock had previously closed at C$302.34.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AEM shares. National Bank Financial boosted their price objective on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada lowered Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. JPMorgan Chase & Co. set a C$337.00 price target on shares of Agnico Eagle Mines and gave the company a “neutral” rating in a research report on Thursday, January 29th. Erste Group Bank downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Stifel Nicolaus boosted their price objective on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of C$272.60.

Check Out Our Latest Research Report on AEM

Agnico Eagle Mines Stock Up 1.3%

The company’s 50-day moving average is C$267.66 and its 200 day moving average is C$236.48. The stock has a market capitalization of C$155.88 billion, a PE ratio of 35.16, a price-to-earnings-growth ratio of 22.97 and a beta of 1.54. The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88.

Agnico Eagle Mines (TSE:AEMGet Free Report) (NYSE:AEM) last issued its quarterly earnings results on Friday, February 13th. The company reported C$3.71 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. The business had revenue of C$4.89 billion for the quarter. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.5%. Agnico Eagle Mines’s dividend payout ratio is currently 18.06%.

Insider Transactions at Agnico Eagle Mines

In related news, insider Ammar Al-Joundi sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of C$243.40, for a total value of C$4,868,000.00. Following the sale, the insider owned 54,917 shares in the company, valued at C$13,366,797.80. This represents a 26.70% decrease in their ownership of the stock. Also, insider James Porter sold 3,000 shares of the firm’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 transaction, the insider directly owned 7,734 shares of the company’s stock, valued at C$1,913,546.28. This represents a 27.95% decrease in their ownership of the stock. Insiders own 0.08% of the company’s stock.

Agnico Eagle Mines Company Profile

(Get Free Report)

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.

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