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

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$122.65 and last traded at C$122.59, with a volume of 332902 shares trading hands. The stock had previously closed at C$120.52.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AEM. UBS Group upgraded Agnico Eagle Mines to a “strong-buy” rating in a research note on Tuesday, September 17th. Canaccord Genuity Group increased their target price on Agnico Eagle Mines from C$105.00 to C$118.00 in a report on Tuesday, July 23rd. Eight Capital increased their target price on Agnico Eagle Mines from C$105.00 to C$115.00 in a report on Thursday, July 11th. Finally, Stifel Nicolaus increased their target price on Agnico Eagle Mines from C$114.00 to C$140.00 in a report on Monday, October 21st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Buy” and a consensus price target of C$110.29.

Agnico Eagle Mines Stock Performance

The firm has a fifty day simple moving average of C$111.36 and a 200-day simple moving average of C$99.47. The company has a market cap of C$60.21 billion, a PE ratio of 75.11, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 1.51 and a debt-to-equity ratio of 9.94.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported C$1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.35 by C$0.21. The company had revenue of C$2.94 billion for the quarter, compared to analyst estimates of C$2.50 billion. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%. On average, research analysts forecast that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current fiscal year.

Insiders Place Their Bets

In other Agnico Eagle Mines news, Director John Merfyn Roberts sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$111.84, for a total transaction of C$223,680.00. In other news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of C$101.85, for a total transaction of C$2,546,250.00. Also, Director John Merfyn Roberts sold 2,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$111.84, for a total transaction of C$223,680.00. Over the last 90 days, insiders have sold 115,000 shares of company stock valued at $12,518,150. 0.08% of the stock is currently owned by insiders.

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.