Agnico Eagle Mines (TSE:AEM) Hits New 12-Month High – What’s Next?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) shares reached a new 52-week high on Thursday . The company traded as high as C$279.89 and last traded at C$280.22, with a volume of 445347 shares trading hands. The stock had previously closed at C$273.74.

Analyst Upgrades and Downgrades

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

Agnico Eagle Mines Price Performance

The firm has a market capitalization of C$139.92 billion, a P/E ratio of 40.74, a P/E/G ratio of 22.97 and a beta of 1.42. The business’s fifty day moving average is C$239.70 and its 200 day moving average is C$214.45. The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88.

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

Agnico Eagle Mines Dividend Announcement

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

Insiders Place Their Bets

In other Agnico Eagle Mines news, insider Ammar Al-Joundi sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider directly owned 54,917 shares of the company’s stock, valued at approximately C$13,366,797.80. This represents a 26.70% decrease in their ownership of the stock. Corporate 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.