Agnico Eagle Mines (NYSE:AEM) Sets New 12-Month High at $61.58

Agnico Eagle Mines Limited (NYSE:AEMGet Free Report) (TSE:AEM)’s share price reached a new 52-week high on Monday . The stock traded as high as $61.58 and last traded at $60.83, with a volume of 1049273 shares changing hands. The stock had previously closed at $59.65.

Analyst Ratings Changes

AEM has been the topic of a number of analyst reports. TD Securities dropped their price target on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Raymond James boosted their price target on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Wednesday, January 3rd. CIBC dropped their price target on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group initiated coverage on Agnico Eagle Mines in a research report on Thursday, February 29th. They issued a “hold” rating and a $54.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $63.71.

View Our Latest Stock Analysis on Agnico Eagle Mines

Agnico Eagle Mines Stock Performance

The firm has a market capitalization of $30.28 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 25.92 and a beta of 1.06. The company has a current ratio of 2.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10. The business’s 50 day simple moving average is $51.70 and its two-hundred day simple moving average is $50.67.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last posted its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.72 billion. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. Agnico Eagle Mines’s revenue was up 26.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. Research analysts expect that Agnico Eagle Mines Limited will post 2.3 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio is currently 38.93%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AEM. Blair William & Co. IL boosted its holdings in shares of Agnico Eagle Mines by 5.9% during the 3rd quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock valued at $1,078,000 after purchasing an additional 1,313 shares during the last quarter. Raymond James & Associates raised its position in shares of Agnico Eagle Mines by 15.5% during the 4th quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock valued at $19,990,000 after buying an additional 48,782 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Agnico Eagle Mines by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock valued at $28,752,000 after buying an additional 34,072 shares in the last quarter. Sprott Inc. raised its position in shares of Agnico Eagle Mines by 4.1% during the 3rd quarter. Sprott Inc. now owns 1,412,300 shares of the mining company’s stock valued at $65,249,000 after buying an additional 55,032 shares in the last quarter. Finally, Alberta Investment Management Corp raised its position in shares of Agnico Eagle Mines by 9.9% during the 2nd quarter. Alberta Investment Management Corp now owns 1,670,650 shares of the mining company’s stock valued at $83,517,000 after buying an additional 151,147 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

(Get Free Report)

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.

Further Reading

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