Agnico Eagle Mines Limited (TSE:AEM) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) have been assigned an average recommendation of “Buy” from the nine brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$314.50.

Several brokerages have recently commented on AEM. TD Securities boosted their target price on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Stifel Nicolaus lifted their price objective on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Royal Bank Of Canada lowered Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Erste Group Bank upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. Finally, National Bank Financial raised their target price on Agnico Eagle Mines from C$300.00 to C$320.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th.

Agnico Eagle Mines Trading Up 1.5%

Shares of AEM stock opened at C$252.12 on Thursday. Agnico Eagle Mines has a 12-month low of C$135.40 and a 12-month high of C$348.94. The company has a market capitalization of C$126.14 billion, a P/E ratio of 28.46, a P/E/G ratio of 22.97 and a beta of 1.67. The firm has a 50-day moving average price of C$292.53 and a 200 day moving average price of C$253.74. The company has a quick ratio of 0.89, a current ratio of 2.02 and a debt-to-equity ratio of 1.68.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued 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 for the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. Research analysts forecast that Agnico Eagle Mines will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 16th were given a dividend of $0.45 per share. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, March 2nd. This represents a $1.80 annualized dividend and a yield of 0.7%. Agnico Eagle Mines’s dividend payout ratio is currently 18.06%.

Insider Buying and Selling

In other Agnico Eagle Mines news, insider Guy Gosselin sold 4,947 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of C$310.00, for a total value of C$1,533,570.00. Following the completion of the transaction, the insider directly owned 31,381 shares of the company’s stock, valued at approximately C$9,728,110. The trade was a 13.62% decrease in their ownership of the stock. 0.08% of the stock is currently owned by corporate insiders.

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.