Agnico Eagle Mines (TSE:AEM) Reaches New 1-Year High – Should You Buy?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$306.85 and last traded at C$303.95, with a volume of 190739 shares traded. The stock had previously closed at C$302.34.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AEM shares. National Bank Financial upped their target price on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Stifel Nicolaus upped their price objective on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Royal Bank Of Canada cut shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. TD Securities lifted their price objective on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. set a C$337.00 target price on Agnico Eagle Mines and gave the company a “neutral” rating in a research note on Thursday, January 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus target price of C$272.60.

Agnico Eagle Mines Stock Up 0.8%

The company has a debt-to-equity ratio of 7.88, a quick ratio of 0.89 and a current ratio of 1.75. The stock has a 50-day moving average of C$264.61 and a two-hundred day moving average of C$235.02. The company has a market cap of C$152.54 billion, a P/E ratio of 34.41, a P/E/G ratio of 22.97 and a beta of 1.54.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings data on Friday, February 13th. The company reported C$3.71 earnings per share for the quarter. The firm had revenue of C$4.89 billion during the quarter. Agnico Eagle Mines had a return on equity of 5.05% and a net margin of 12.86%. On average, research analysts anticipate that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, December 1st. Agnico Eagle Mines’s payout ratio is 18.06%.

Insider Buying and Selling at Agnico Eagle Mines

In other Agnico Eagle Mines news, insider Ammar Al-Joundi sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of C$243.40, for a total transaction of C$4,868,000.00. Following the completion of 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 ownership of the stock. Also, insider James Porter sold 3,000 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the completion of the sale, the insider directly owned 7,734 shares of the company’s stock, valued at C$1,913,546.28. This represents a 27.95% decrease in their ownership of the stock. Company insiders own 0.08% of the company’s stock.

Agnico Eagle Mines Company Profile

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.