Agnico Eagle Mines (TSE:AEM) Price Target Increased to C$118.00 by Analysts at Canaccord Genuity Group

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price target upped by Canaccord Genuity Group from C$105.00 to C$118.00 in a research note released on Tuesday, BayStreet.CA reports.

Several other equities research analysts have also recently issued reports on the stock. Cormark raised their target price on shares of Agnico Eagle Mines from C$110.00 to C$115.00 in a report on Monday, June 24th. National Bankshares set a C$104.00 price target on shares of Agnico Eagle Mines and gave the company an outperform rating in a report on Monday, June 24th. National Bank Financial reiterated an outperform overweight rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Veritas Investment Research lifted their price objective on shares of Agnico Eagle Mines from C$88.40 to C$118.00 in a research note on Friday, April 12th. Finally, Stifel Nicolaus lifted their price objective on shares of Agnico Eagle Mines from C$94.00 to C$104.00 and gave the stock a buy rating in a research note on Friday, April 19th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of C$105.14.

Agnico Eagle Mines Price Performance

Shares of TSE AEM opened at C$101.01 on Tuesday. Agnico Eagle Mines has a fifty-two week low of C$59.36 and a fifty-two week high of C$105.99. The company has a 50 day simple moving average of C$94.14 and a two-hundred day simple moving average of C$82.18. The company has a market capitalization of C$50.32 billion, a price-to-earnings ratio of 93.53, a P/E/G ratio of 22.97 and a beta of 1.04. The company has a debt-to-equity ratio of 10.14, a quick ratio of 0.89 and a current ratio of 2.21.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its earnings results on Thursday, April 25th. The company reported C$1.02 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.20. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 2.39%. The business had revenue of C$2.47 billion during the quarter, compared to the consensus estimate of C$2.20 billion. Analysts expect that Agnico Eagle Mines will post 4.3937412 EPS for the current fiscal year.

Agnico Eagle Mines Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, June 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Friday, May 31st. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 199.07%.

Insiders Place Their Bets

In other Agnico Eagle Mines news, Director John Merfyn Roberts sold 1,000 shares of Agnico Eagle Mines stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of C$89.27, for a total transaction of C$89,267.00. In related news, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of C$95.01, for a total value of C$475,050.00. Also, Director John Merfyn Roberts sold 1,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of C$89.27, for a total transaction of C$89,267.00. Insiders have sold 163,279 shares of company stock valued at $14,798,903 over the last ninety days. Company insiders own 0.09% of the company’s stock.

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.