Agnico Eagle Mines (NYSE:AEM) Hits New 12-Month High at $64.38

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) reached a new 52-week high during trading on Thursday . The stock traded as high as $64.38 and last traded at $64.38, with a volume of 14321 shares changing hands. The stock had previously closed at $63.69.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AEM shares. CIBC decreased their price target on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Raymond James lifted their price target on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a report on Monday. Finally, TD Securities decreased their price target on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average price target of $64.14.

Agnico Eagle Mines Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 2.09. The business’s 50 day simple moving average is $56.18 and its 200-day simple moving average is $52.37. The stock has a market capitalization of $32.58 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 0.94 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Friday, February 16th. The mining company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm earned $0.41 EPS. Agnico Eagle Mines’s revenue was up 26.9% on a year-over-year basis. Research analysts anticipate that Agnico Eagle Mines Limited will post 2.52 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.40 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.45%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 38.93%.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise grew its holdings in shares of Agnico Eagle Mines by 2.8% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock worth $369,000 after acquiring an additional 169 shares during the last quarter. Gulf International Bank UK Ltd raised its holdings in Agnico Eagle Mines by 4.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock worth $300,000 after buying an additional 226 shares during the period. Natixis Advisors L.P. lifted its stake in Agnico Eagle Mines by 1.3% during the third quarter. Natixis Advisors L.P. now owns 18,206 shares of the mining company’s stock valued at $827,000 after buying an additional 242 shares in the last quarter. FirstPurpose Wealth LLC boosted its holdings in shares of Agnico Eagle Mines by 3.8% in the third quarter. FirstPurpose Wealth LLC now owns 7,174 shares of the mining company’s stock worth $326,000 after buying an additional 260 shares during the period. Finally, PFG Investments LLC increased its position in shares of Agnico Eagle Mines by 3.5% in the third quarter. PFG Investments LLC now owns 8,977 shares of the mining company’s stock worth $408,000 after acquiring an additional 302 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

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.