Agnico Eagle Mines (NYSE:AEM) Hits New 12-Month High – Here’s Why

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $101.80 and last traded at $100.36, with a volume of 415773 shares changing hands. The stock had previously closed at $97.03.

Wall Street Analysts Forecast Growth

AEM has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. Raymond James set a $105.00 target price on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Scotiabank boosted their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. StockNews.com downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, TD Securities lowered their target price on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.78.

Agnico Eagle Mines Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The stock’s 50-day simple moving average is $92.61 and its 200 day simple moving average is $85.74. The stock has a market capitalization of $50.81 billion, a P/E ratio of 26.73, a PEG ratio of 0.66 and a beta of 1.00.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.40 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.58%. Agnico Eagle Mines’s payout ratio is presently 42.33%.

Institutional Investors Weigh In On Agnico Eagle Mines

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Agnico Eagle Mines by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock valued at $91,681,000 after acquiring an additional 32,991 shares during the period. Bridgewater Associates LP raised its stake in Agnico Eagle Mines by 123.2% in the third quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock valued at $16,448,000 after purchasing an additional 112,712 shares in the last quarter. Caldwell Investment Management Ltd. raised its stake in Agnico Eagle Mines by 12.0% in the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock valued at $6,812,000 after purchasing an additional 9,400 shares in the last quarter. Forsta AP Fonden raised its stake in Agnico Eagle Mines by 8.9% in the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock valued at $15,256,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Agnico Eagle Mines by 14.8% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock valued at $18,223,000 after purchasing an additional 29,106 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

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.