Agnico Eagle Mines (TSE:AEM) Sets New 12-Month High at $113.99

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) reached a new 52-week high on Friday . The company traded as high as C$113.99 and last traded at C$113.60, with a volume of 415398 shares trading hands. The stock had previously closed at C$111.24.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AEM shares. Canaccord Genuity Group upped their target price on Agnico Eagle Mines from C$105.00 to C$118.00 in a research note on Tuesday, July 23rd. Eight Capital upped their price objective on Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. National Bankshares set a C$104.00 target price on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a report on Monday, June 24th. Finally, Cormark increased their price target on shares of Agnico Eagle Mines from C$110.00 to C$115.00 in a report on Monday, June 24th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Buy” and an average price target of C$105.14.

Agnico Eagle Mines Price Performance

The company has a quick ratio of 0.89, a current ratio of 1.51 and a debt-to-equity ratio of 9.94. The firm has a market capitalization of C$56.65 billion, a PE ratio of 71.31, a PEG ratio of 22.97 and a beta of 1.10. The stock has a 50-day moving average price of C$104.86 and a 200 day moving average price of C$92.00.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.27 by C$0.19. The firm had revenue of C$2.84 billion for the quarter, compared to analysts’ expectations of C$2.36 billion. Agnico Eagle Mines had a net margin of 8.49% and a return on equity of 3.10%. Equities analysts forecast that Agnico Eagle Mines Limited will post 5.3998976 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.547 per share. This represents a $2.19 annualized dividend and a dividend yield of ∞. The ex-dividend date is Friday, August 30th. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio is 139.10%.

Insider Buying and Selling

In other Agnico Eagle Mines news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of C$101.85, for a total transaction of C$2,546,250.00. In other news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of C$101.85, for a total transaction of C$2,546,250.00. Also, Director John Merfyn Roberts sold 1,000 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of C$89.27, for a total transaction of C$89,267.00. In the last three months, insiders have sold 99,000 shares of company stock worth $10,681,477. Insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

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.