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

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$266.59 and last traded at C$264.22, with a volume of 465790 shares trading hands. The stock had previously closed at C$258.47.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AEM. Stifel Nicolaus increased their target price on shares of Agnico Eagle Mines from C$195.00 to C$300.00 in a report on Monday, October 20th. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, National Bankshares upped their price target on shares of Agnico Eagle Mines from C$285.00 to C$300.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Five equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Buy” and a consensus target price of C$235.00.

Agnico Eagle Mines Stock Up 2.7%

The firm has a market capitalization of C$133.27 billion, a price-to-earnings ratio of 38.81, a P/E/G ratio of 22.97 and a beta of 1.42. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.75 and a quick ratio of 0.89. The stock has a fifty day moving average of C$235.97 and a two-hundred day moving average of C$211.15.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings results on Wednesday, October 29th. The company reported C$3.01 EPS for the quarter. Agnico Eagle Mines had a return on equity of 5.05% and a net margin of 12.86%.The firm had revenue of C$4.26 billion for the quarter. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, December 1st. Agnico Eagle Mines’s dividend payout ratio is currently 23.39%.

Insider Activity

In other news, insider Ammar Al-Joundi sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of C$243.40, for a total value of C$4,868,000.00. Following the sale, the insider directly owned 54,917 shares of the company’s stock, valued at approximately C$13,366,797.80. This represents a 26.70% decrease in their position. Company insiders own 0.08% of the company’s stock.

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.