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

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) reached a new 52-week high during trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from C$105.00 to C$118.00. The company traded as high as C$105.99 and last traded at C$105.78, with a volume of 145201 shares trading hands. The stock had previously closed at C$103.91.

A number of other equities research analysts have also commented on AEM. Veritas Investment Research increased their price target on Agnico Eagle Mines from C$88.40 to C$118.00 in a research report on Friday, April 12th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Eight Capital raised their target price on Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. Stifel Nicolaus raised their target price on Agnico Eagle Mines from C$94.00 to C$104.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Cormark raised their target price on Agnico Eagle Mines from C$110.00 to C$115.00 in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$105.14.

Insider Transactions at Agnico Eagle Mines

In other news, Director John Merfyn Roberts sold 1,000 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of C$89.27, for a total transaction of C$89,267.00. In other news, Director John Merfyn Roberts sold 1,000 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of C$89.27, for a total transaction of C$89,267.00. Also, Senior Officer Guy Gosselin sold 3,279 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of C$94.00, for a total value of C$308,226.00. In the last 90 days, insiders sold 163,279 shares of company stock worth $14,798,903. 0.09% of the stock is owned by company insiders.

Agnico Eagle Mines Trading Up 1.8 %

The firm has a 50 day simple moving average of C$93.81 and a 200 day simple moving average of C$81.90. The company has a debt-to-equity ratio of 10.14, a quick ratio of 0.89 and a current ratio of 2.21. The firm has a market cap of C$52.72 billion, a P/E ratio of 96.21, a P/E/G ratio of 22.97 and a beta of 1.04.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings results on Thursday, April 25th. The company reported C$1.02 earnings per share for the quarter, beating the consensus estimate of C$0.82 by C$0.20. Agnico Eagle Mines had a return on equity of 2.39% and a net margin of 6.79%. The firm had revenue of C$2.47 billion for the quarter, compared to analysts’ expectations of C$2.20 billion. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 4.3937412 EPS for the current fiscal year.

Agnico Eagle Mines Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, June 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.60 annualized dividend and a dividend yield of 1.51%. Agnico Eagle Mines’s payout ratio is currently 199.07%.

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.