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

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $120.89 and last traded at $120.62, with a volume of 2701225 shares trading hands. The stock had previously closed at $118.39.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group raised their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. StockNews.com cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. National Bank Financial raised Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Bank of America lifted their target price on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 8th. Finally, TD Securities dropped their price target on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $124.40.

Agnico Eagle Mines Stock Performance

The business has a 50-day moving average of $103.37 and a 200 day moving average of $90.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The company has a market cap of $61.19 billion, a PE ratio of 32.16, a PEG ratio of 0.66 and a beta of 0.87.

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

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is presently 42.33%.

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently modified their holdings of AEM. MML Investors Services LLC purchased a new stake in Agnico Eagle Mines in the third quarter worth about $252,000. Te Ahumairangi Investment Management Ltd increased its holdings in Agnico Eagle Mines by 1.7% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 63,461 shares of the mining company’s stock worth $5,089,000 after acquiring an additional 1,047 shares in the last quarter. World Investment Advisors LLC bought a new stake in Agnico Eagle Mines during the 3rd quarter worth approximately $359,000. Wilmington Savings Fund Society FSB purchased a new position in Agnico Eagle Mines during the third quarter valued at approximately $1,818,000. Finally, Lord Abbett & CO. LLC boosted its position in shares of Agnico Eagle Mines by 22.3% in the third quarter. Lord Abbett & CO. LLC now owns 431,200 shares of the mining company’s stock worth $34,736,000 after purchasing an additional 78,700 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Company Profile

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.