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

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) shares reached a new 52-week high on Tuesday . The stock traded as high as $101.80 and last traded at $100.36, with a volume of 415773 shares traded. The stock had previously closed at $97.03.

Wall Street Analyst Weigh In

AEM has been the subject of a number of recent analyst reports. Raymond James set a $105.00 price target on Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Tuesday, February 4th. StockNews.com cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. TD Securities cut their price target on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada raised their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, Scotiabank raised their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.78.

Agnico Eagle Mines Stock Up 4.0 %

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 stock has a market cap of $50.73 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 0.66 and a beta of 1.00. The business has a fifty day moving average of $91.71 and a 200 day moving average of $85.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data 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%. On average, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, February 28th. Agnico Eagle Mines’s payout ratio is 42.33%.

Hedge Funds Weigh In On Agnico Eagle Mines

Institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in Agnico Eagle Mines during the fourth quarter valued at about $573,446,000. FMR LLC increased its stake in shares of Agnico Eagle Mines by 43.5% in the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after purchasing an additional 4,562,005 shares during the period. Capital World Investors boosted its stake in Agnico Eagle Mines by 41.9% during the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock valued at $1,091,550,000 after purchasing an additional 4,121,164 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Agnico Eagle Mines by 81.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock valued at $551,339,000 after purchasing an additional 3,155,927 shares during the period. Finally, AGF Management Ltd. grew its holdings in Agnico Eagle Mines by 184.6% in the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock valued at $109,205,000 after buying an additional 905,328 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

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.