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

Posted by Defense World Staff on May 5th, 2023

Agnico Eagle Mines Limited (TSE:AEM – Get Rating) (NYSE:AEM)’s share price reached a new 52-week high during mid-day trading on Thursday after National Bank Financial raised their price target on the stock from C$95.00 to C$98.00. The stock traded as high as C$80.96 and last traded at C$80.77, with a volume of 150868 shares traded. The stock had previously closed at C$79.09.

AEM has been the subject of several other research reports. National Bankshares lifted their price target on shares of Agnico Eagle Mines from C$95.00 to C$98.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays started coverage on shares of Agnico Eagle Mines in a report on Friday, February 17th. They set a “buy” rating and a C$62.00 price objective on the stock. Canaccord Genuity Group cut their price objective on shares of Agnico Eagle Mines from C$90.00 to C$84.00 in a report on Thursday, March 2nd. Stifel Nicolaus lifted their price objective on shares of Agnico Eagle Mines from C$89.00 to C$91.00 in a report on Thursday, April 20th. Finally, Raymond James lifted their price objective on shares of Agnico Eagle Mines from C$65.00 to C$66.00 and gave the stock an “outperform” rating in a report on Thursday, April 20th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$79.31.

Insider Transactions at Agnico Eagle Mines

In related news, Senior Officer Ammar Al-Joundi bought 8,200 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were purchased at an average cost of C$62.17 per share, with a total value of C$509,822.70. Insiders own 0.11% of the company’s stock.

Agnico Eagle Mines Trading Up 3.4 %

The stock has a market cap of C$37.44 billion, a PE ratio of 39.30, a PEG ratio of -1.52 and a beta of 0.80. The company has a debt-to-equity ratio of 9.19, a quick ratio of 0.89 and a current ratio of 2.30. The stock has a fifty day moving average price of C$71.29 and a 200 day moving average price of C$69.00.

Agnico Eagle Mines (TSE:AEM – Get Rating) (NYSE:AEM) last announced its earnings results on Thursday, February 16th. The company reported C$0.55 EPS for the quarter, topping analysts’ consensus estimates of C$0.53 by C$0.02. The company had revenue of C$1.88 billion during the quarter, compared to analysts’ expectations of C$1.91 billion. Equities analysts expect that Agnico Eagle Mines Limited will post 2.1903676 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a dividend of $0.541 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $2.16 dividend on an annualized basis and a yield of 2.65%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.53. Agnico Eagle Mines’s payout ratio is presently 102.88%.

Agnico Eagle Mines Company Profile

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Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits.