Agnico Eagle Mines (TSE:AEM) Reaches New 12-Month High After Analyst Upgrade

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

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

Insiders Place Their Bets

In other Agnico Eagle Mines news, Senior Officer Dominique Girard sold 20,000 shares of Agnico Eagle Mines stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$113.49, for a total value of C$2,269,800.00. In other Agnico Eagle Mines news, Senior Officer Dominique Girard sold 20,000 shares of Agnico Eagle Mines stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$113.49, for a total value of C$2,269,800.00. Also, Director John Merfyn Roberts sold 2,000 shares of Agnico Eagle Mines stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of C$111.84, for a total value of C$223,680.00. Over the last ninety days, insiders have sold 115,000 shares of company stock worth $12,518,150. Corporate insiders own 0.08% of the company’s stock.

Agnico Eagle Mines Trading Up 1.5 %

The company has a debt-to-equity ratio of 9.94, a current ratio of 1.51 and a quick ratio of 0.89. The firm has a market cap of C$60.94 billion, a price-to-earnings ratio of 76.01, a P/E/G ratio of 22.97 and a beta of 1.10. The business has a 50-day moving average of C$108.99 and a 200-day moving average of C$97.72.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C$1.46 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of C$2.36 billion. Research analysts anticipate that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current 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 dividend of $0.547 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.19 dividend on an annualized basis and a yield of 1.80%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 135.63%.

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.