Agnico Eagle Mines (NYSE:AEM) Hits New 1-Year High – Here’s What Happened

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) reached a new 52-week high on Monday . The company traded as high as $105.16 and last traded at $104.74, with a volume of 263668 shares changing hands. The stock had previously closed at $103.60.

Analysts Set New Price Targets

AEM has been the topic of a number of recent research reports. TD Securities dropped their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Scotiabank lifted their price target on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Finally, Royal Bank of Canada lifted their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.78.

Agnico Eagle Mines Stock Up 0.5 %

The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The stock has a 50-day simple moving average of $94.49 and a 200-day simple moving average of $86.40. The firm has a market capitalization of $53.23 billion, a PE ratio of 28.00, a P/E/G ratio of 0.66 and a beta of 1.00.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds have recently made changes to their positions in AEM. Norges Bank purchased a new position in shares of Agnico Eagle Mines in the fourth quarter valued at $573,446,000. FMR LLC grew its position in Agnico Eagle Mines by 43.5% during the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after buying an additional 4,562,005 shares in the last quarter. Capital World Investors grew its position in Agnico Eagle Mines by 41.9% during the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock worth $1,091,550,000 after buying an additional 4,121,164 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Agnico Eagle Mines by 81.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after buying an additional 3,155,927 shares in the last quarter. Finally, AGF Management Ltd. grew its position in Agnico Eagle Mines by 184.6% during the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock worth $109,205,000 after buying an additional 905,328 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.