Agnico Eagle Mines (TSE:AEM) Reaches New 1-Year High Following Analyst Upgrade

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) reached a new 52-week high during trading on Tuesday after Stifel Nicolaus raised their price target on the stock from C$114.00 to C$140.00. The stock traded as high as C$121.82 and last traded at C$121.35, with a volume of 314682 shares trading hands. The stock had previously closed at C$119.88.

Other equities research analysts also recently issued research reports about the company. Cormark lifted their price target on shares of Agnico Eagle Mines from C$110.00 to C$115.00 in a report on Monday, June 24th. UBS Group raised Agnico Eagle Mines to a “strong-buy” rating in a report on Tuesday, September 17th. Canaccord Genuity Group raised their price objective on Agnico Eagle Mines from C$105.00 to C$118.00 in a report on Tuesday, July 23rd. National Bankshares set a C$104.00 price target on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Monday, June 24th. Finally, Eight Capital upped their price objective on shares of Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Buy” and an average price target of C$110.29.

Insider Buying and Selling

In other Agnico Eagle Mines news, Senior Officer Jean Robitaille sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$113.42, for a total value of C$1,701,300.00. In other news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of Agnico Eagle Mines stock in a transaction 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. Also, Senior Officer Jean Robitaille sold 15,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$113.42, for a total transaction of C$1,701,300.00. Insiders sold 115,000 shares of company stock valued at $12,518,150 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Agnico Eagle Mines Trading Up 1.5 %

The firm has a fifty day moving average of C$108.99 and a 200-day moving average of C$97.72. The company has a debt-to-equity ratio of 9.94, a quick ratio of 0.89 and a current ratio of 1.51. The stock has a market capitalization of C$60.94 billion, a price-to-earnings ratio of 75.48, a P/E/G ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its 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. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%. The company had revenue of C$2.84 billion for the quarter, compared to analyst estimates of C$2.36 billion. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.547 per share. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 30th. This represents a $2.19 annualized dividend and a dividend yield of 1.80%. Agnico Eagle Mines’s payout ratio is 135.63%.

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.