Agnico Eagle Mines (TSE:AEM) Reaches 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 Tuesday . The company traded as high as C$122.65 and last traded at C$122.59, with a volume of 332902 shares changing hands. The stock had previously closed at C$120.52.

Analyst Upgrades and Downgrades

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

Agnico Eagle Mines Trading Up 2.5 %

The stock has a 50-day simple moving average of C$110.49 and a 200 day simple moving average of C$98.90. The company has a current ratio of 1.51, a quick ratio of 0.89 and a debt-to-equity ratio of 9.94. The company has a market cap of C$61.92 billion, a price-to-earnings ratio of 75.33, a PEG ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$1.46 EPS for the quarter, topping analysts’ consensus estimates of C$1.27 by C$0.19. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%. The company had revenue of C$2.84 billion during the quarter, compared to analysts’ expectations of C$2.36 billion. As a group, equities research analysts predict that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.547 per share. The ex-dividend date was Friday, August 30th. This represents a $2.19 dividend on an annualized basis and a yield of 1.77%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is currently 135.63%.

Insiders Place Their Bets

In other Agnico Eagle Mines news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of Agnico Eagle Mines stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of C$101.85, for a total transaction of C$2,546,250.00. In other news, Senior Officer Dominique Girard sold 20,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$113.49, for a total value of C$2,269,800.00. Also, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of C$101.85, for a total value of C$2,546,250.00. In the last 90 days, insiders sold 115,000 shares of company stock valued at $12,518,150. 0.08% of the stock is owned by company 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.