Brokerages Set Agnico Eagle Mines Limited (TSE:AEM) Target Price at C$314.50

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) have earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is C$320.75.

AEM has been the subject of several analyst reports. National Bank Financial raised their price target on shares of Agnico Eagle Mines from C$330.00 to C$345.00 and gave the company an “outperform” rating in a research note on Friday. Erste Group Bank downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. TD Securities lifted their target price on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Stifel Nicolaus lifted their target price on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Finally, JPMorgan Chase & Co. set a C$337.00 target price on shares of Agnico Eagle Mines and gave the stock a “neutral” rating in a research note on Thursday, January 29th.

Insiders Place Their Bets

In related news, insider Guy Gosselin sold 4,947 shares of Agnico Eagle Mines stock in a transaction on Friday, February 20th. The shares were sold at an average price of C$310.00, for a total transaction of C$1,533,570.00. Following the completion of the transaction, the insider owned 31,381 shares of the company’s stock, valued at C$9,728,110. This trade represents a 13.62% decrease in their ownership of the stock. 0.08% of the stock is owned by corporate insiders.

Agnico Eagle Mines Price Performance

AEM stock opened at C$301.31 on Monday. The company has a fifty day moving average price of C$294.89 and a 200-day moving average price of C$262.75. The company has a market capitalization of C$150.95 billion, a P/E ratio of 34.01, a PEG ratio of 22.97 and a beta of 1.87. Agnico Eagle Mines has a 52-week low of C$144.21 and a 52-week high of C$348.94. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.89 and a current ratio of 2.02.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings results on Friday, February 13th. The company reported C$3.71 earnings per share (EPS) for the quarter. The firm had revenue of C$4.89 billion during the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. As a group, equities analysts expect that Agnico Eagle Mines will post 5.4966052 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 16th were paid a dividend of $0.45 per share. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 2nd. Agnico Eagle Mines’s payout ratio is 18.06%.

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.