Agnico Eagle Mines (TSE:AEM) Sets New 1-Year High – Here’s Why

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$175.33 and last traded at C$170.18, with a volume of 447751 shares trading hands. The stock had previously closed at C$168.38.

Analysts Set New Price Targets

AEM has been the subject of several analyst reports. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. BMO Capital Markets upgraded Agnico Eagle Mines to a “strong-buy” rating in a research report on Tuesday. UBS Group downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 31st. Finally, National Bankshares raised their target price on Agnico Eagle Mines from C$160.00 to C$190.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Buy” and an average price target of C$130.50.

Agnico Eagle Mines Price Performance

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 company has a fifty day moving average price of C$147.25 and a two-hundred day moving average price of C$128.83. The firm has a market cap of C$59.54 billion, a P/E ratio of 59.16, a PEG ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is 76.24%.

Insider Activity at Agnico Eagle Mines

In related news, Senior Officer Carol-Ann Plummer-Theriault sold 5,625 shares of Agnico Eagle Mines stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of C$139.99, for a total value of C$787,455.00. Also, Senior Officer Dominique Girard sold 10,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of C$148.32, for a total transaction of C$1,483,200.00. In the last ninety days, insiders have sold 26,625 shares of company stock valued at $3,958,905. 0.08% of the stock is owned by corporate insiders.

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.