Agnico Eagle Mines (NYSE:AEM) Sets New 52-Week High – What’s Next?

Shares of Agnico Eagle Mines Limited (NYSE:AEMGet Free Report) (TSE:AEM) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $245.81 and last traded at $244.14, with a volume of 1822975 shares trading hands. The stock had previously closed at $240.49.

Key Headlines Impacting Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

Analysts Set New Price Targets

AEM has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce set a $296.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Erste Group Bank cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. lowered their target price on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Finally, Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average price target of $234.91.

Get Our Latest Report on AEM

Agnico Eagle Mines Stock Up 1.5%

The firm has a 50-day moving average price of $197.90 and a two-hundred day moving average price of $172.84. The company has a market capitalization of $122.32 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 0.56 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last released its earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The business’s quarterly revenue was up 60.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, March 2nd. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.7%. Agnico Eagle Mines’s dividend payout ratio is currently 18.02%.

Institutional Investors Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in AEM. True Wealth Design LLC grew its holdings in shares of Agnico Eagle Mines by 381.3% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. Acumen Wealth Advisors LLC bought a new stake in Agnico Eagle Mines during the fourth quarter worth about $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in Agnico Eagle Mines during the second quarter valued at approximately $29,000. Blue Bell Private Wealth Management LLC grew its stake in Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Finally, MCF Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter worth approximately $34,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Company Profile

(Get Free Report)

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

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