Agnico Eagle Mines (TSE:AEM) Issues Quarterly Earnings Results

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) issued its quarterly earnings results on Thursday. The company reported C$4.73 earnings per share (EPS) for the quarter, FiscalAI reports. Agnico Eagle Mines had a return on equity of 19.37% and a net margin of 37.50%.The firm had revenue of C$5.70 billion for the quarter.

Agnico Eagle Mines Stock Performance

AEM opened at C$255.43 on Friday. The stock has a market cap of C$127.97 billion, a P/E ratio of 28.83, a P/E/G ratio of 22.97 and a beta of 1.87. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.02 and a quick ratio of 0.89. The stock’s 50 day simple moving average is C$290.83 and its 200 day simple moving average is C$264.65. Agnico Eagle Mines has a 1-year low of C$144.21 and a 1-year high of C$348.94.

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 16th were issued a $0.45 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is currently 18.06%.

Insider Buying and Selling at Agnico Eagle Mines

In related news, insider Guy Gosselin sold 4,947 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of C$310.00, for a total value of C$1,533,570.00. Following the sale, the insider owned 31,381 shares in the company, valued at C$9,728,110. This represents a 13.62% decrease in their position. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Erste Group Bank cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. TD Securities boosted their target price on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. National Bank Financial boosted their target price on Agnico Eagle Mines from C$330.00 to C$345.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. dropped their target price on Agnico Eagle Mines from C$321.00 to C$300.00 in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus boosted their target price on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$323.20.

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.