Agnico Eagle Mines (TSE:AEM) Reaches New 52-Week High – Should You Buy?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s stock price reached a new 52-week high on Thursday . The company traded as high as C$306.85 and last traded at C$303.95, with a volume of 190739 shares changing hands. The stock had previously closed at C$302.34.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. TD Securities upped their target price on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank Of Canada lowered Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 10th. Stifel Nicolaus increased their price target 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. JPMorgan Chase & Co. set a C$337.00 target price on Agnico Eagle Mines and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Finally, National Bank Financial increased their price objective on Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$272.60.

Agnico Eagle Mines Price Performance

The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88. The business has a fifty day simple moving average of C$264.61 and a 200 day simple moving average of C$235.02. The stock has a market capitalization of C$152.54 billion, a P/E ratio of 34.41, a price-to-earnings-growth ratio of 22.97 and a beta of 1.54.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its earnings results on Friday, February 13th. The company reported C$3.71 EPS for the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. The company had revenue of C$4.89 billion during the quarter. On average, analysts expect that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.60 annualized dividend and a dividend yield of 0.5%. Agnico Eagle Mines’s dividend payout ratio is currently 18.06%.

Insiders Place Their Bets

In other news, insider James Porter sold 3,000 shares of Agnico Eagle Mines stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the sale, the insider directly owned 7,734 shares in the company, valued at C$1,913,546.28. The trade was a 27.95% decrease in their position. Also, insider Ammar Al-Joundi sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of C$243.40, for a total transaction of C$4,868,000.00. Following the transaction, the insider directly owned 54,917 shares of the company’s stock, valued at C$13,366,797.80. This represents a 26.70% decrease in their ownership of the stock. Company insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

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.