Agnico Eagle Mines (TSE:AEM) Sets New 12-Month High – Still a Buy?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$295.00 and last traded at C$284.18, with a volume of 858754 shares traded. The stock had previously closed at C$289.25.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AEM shares. Royal Bank Of Canada cut Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Stifel Nicolaus lifted their price objective on shares of Agnico Eagle Mines from C$195.00 to C$300.00 in a research report on Monday, October 20th. Finally, National Bankshares boosted their target price on shares of Agnico Eagle Mines from C$285.00 to C$300.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Five analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Buy” and an average price target of C$235.00.

Agnico Eagle Mines Stock Down 1.8%

The business has a fifty day moving average price of C$243.76 and a two-hundred day moving average price of C$218.16. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.75 and a quick ratio of 0.89. The firm has a market cap of C$142.64 billion, a PE ratio of 41.54, a P/E/G ratio of 22.97 and a beta of 1.42.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings data on Wednesday, October 29th. The company reported C$3.01 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a return on equity of 5.05% and a net margin of 12.86%.The firm had revenue of C$4.26 billion during the quarter. On average, analysts anticipate that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were issued a $0.40 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a yield of 0.6%. Agnico Eagle Mines’s dividend payout ratio is currently 23.39%.

Insider Transactions at Agnico Eagle Mines

In related news, insider Ammar Al-Joundi sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of C$243.40, for a total value of C$4,868,000.00. Following the completion of the sale, the insider directly owned 54,917 shares in the company, valued at approximately C$13,366,797.80. The trade was a 26.70% decrease in their position. Corporate 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.