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

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AEM. Stifel Nicolaus boosted their price target on Agnico Eagle Mines from C$195.00 to C$300.00 in a research report on Monday, October 20th. National Bankshares boosted their target price on 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. Finally, Royal Bank Of Canada cut Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Five research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines has a consensus rating of “Buy” and an average target price of C$235.00.

Agnico Eagle Mines Stock Performance

The stock’s 50-day simple moving average is C$235.97 and its 200-day simple moving average is C$211.15. The stock has a market cap of C$133.27 billion, a price-to-earnings ratio of 38.81, a price-to-earnings-growth ratio of 22.97 and a beta of 1.42. 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:AEM) (NYSE:AEM) last issued its quarterly earnings results on Wednesday, October 29th. The company reported C$3.01 earnings per share (EPS) for the quarter. The business had revenue of C$4.26 billion during the quarter. Agnico Eagle Mines had a return on equity of 5.05% and a net margin of 12.86%. Analysts forecast that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders 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 dividend yield of 0.6%. The ex-dividend date was Monday, December 1st. Agnico Eagle Mines’s dividend payout ratio is presently 23.39%.

Insider Activity

In related news, insider Ammar Al-Joundi sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the insider owned 54,917 shares in the company, valued at approximately C$13,366,797.80. This trade represents a 26.70% decrease in their ownership of the stock. 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.