Agnico Eagle Mines Limited (TSE:AEM) Receives Average Rating of “Buy” from Analysts

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) has received a consensus rating of “Buy” from the nine research firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, one has given a buy rating and five have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$260.50.

A number of analysts have recently issued reports on AEM shares. Stifel Nicolaus lifted their price target on Agnico Eagle Mines from C$195.00 to C$300.00 in a research note on Monday, October 20th. National Bankshares upped their price objective on shares of Agnico Eagle Mines from C$285.00 to C$300.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, JPMorgan Chase & Co. set a C$337.00 price target on shares of Agnico Eagle Mines and gave the company a “neutral” rating in a research note on Thursday.

Insider Buying and Selling at Agnico Eagle Mines

In other news, insider Ammar Al-Joundi sold 20,000 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of C$243.40, for a total transaction of C$4,868,000.00. Following the completion of the transaction, the insider directly owned 54,917 shares in the company, valued at approximately C$13,366,797.80. This represents a 26.70% decrease in their position. Also, insider James Porter sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of C$247.42, for a total value of C$742,260.00. Following the sale, the insider directly owned 7,734 shares of the company’s stock, valued at C$1,913,546.28. The trade was a 27.95% decrease in their ownership of the stock. Corporate insiders own 0.08% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at C$258.84 on Wednesday. The stock has a market cap of C$129.95 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 22.97 and a beta of 1.42. Agnico Eagle Mines has a 52-week low of C$132.96 and a 52-week high of C$305.68. The business has a 50-day simple moving average of C$252.72 and a 200-day simple moving average of C$225.27. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 7.88.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The company reported C$3.01 earnings per share (EPS) for the quarter. The firm had revenue of C$4.26 billion for the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. On average, equities analysts expect that Agnico Eagle Mines will post 5.4966052 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.60 annualized dividend and a yield of 0.6%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 23.39%.

About Agnico Eagle Mines

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.