Agnico Eagle Mines (TSE:AEM) Price Target Raised to C$251.00

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price target hoisted by TD Securities from C$241.00 to C$251.00 in a research note published on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

AEM has been the topic of a number of other research reports. National Bank Financial upped their target price on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. 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 increased their target price on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus target price of C$272.60.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at C$307.51 on Tuesday. Agnico Eagle Mines has a 52 week low of C$132.96 and a 52 week high of C$307.81. 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 stock has a market cap of C$153.85 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 22.97 and a beta of 1.54. The stock has a 50 day moving average of C$266.06 and a 200-day moving average of C$235.52.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its quarterly earnings results on Friday, February 13th. The company reported C$3.71 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$4.89 billion for the quarter. On average, analysts expect that Agnico Eagle Mines will post 5.4966052 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were paid a $0.40 dividend. The ex-dividend date 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 (DPR) is presently 18.06%.

Insider Buying and Selling

In related news, insider Ammar Al-Joundi sold 20,000 shares of the 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 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 position. Also, insider James Porter sold 3,000 shares of Agnico Eagle Mines stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of C$247.42, for a total value 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. 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.