Agnico Eagle Mines (TSE:AEM) Sets New 12-Month High – Here’s Why

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) reached a new 52-week high on Thursday . The company traded as high as C$154.00 and last traded at C$153.77, with a volume of 317523 shares. The stock had previously closed at C$149.58.

Analyst Upgrades and Downgrades

AEM has been the subject of a number of research reports. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. Royal Bank of Canada raised their price target on shares of Agnico Eagle Mines to C$105.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. National Bank Financial raised Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. Finally, National Bankshares upped their target price on Agnico Eagle Mines from C$160.00 to C$190.00 and gave the company an “outperform” rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$128.71.

Agnico Eagle Mines Price Performance

The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 7.88. The business’s 50 day simple moving average is C$140.49 and its two-hundred day simple moving average is C$123.75. The stock has a market capitalization of C$54.38 billion, a P/E ratio of 54.03, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.04%. Agnico Eagle Mines’s dividend payout ratio is currently 76.24%.

Insiders Place Their Bets

In related news, Director Martine Celej sold 2,208 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of C$111.84, for a total transaction of C$246,942.72. Also, Senior Officer Ammar Al-Joundi sold 17,936 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of C$111.84, for a total value of C$2,005,962.24. Over the last quarter, insiders have sold 85,269 shares of company stock valued at $10,634,722. Insiders own 0.08% 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.