Agnico Eagle Mines (TSE:AEM) Price Target Raised to C$320.00

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price objective raised by National Bankshares from C$300.00 to C$320.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price objective suggests a potential upside of 19.83% from the stock’s current price.

Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. set a C$337.00 price objective on Agnico Eagle Mines and gave the stock a “neutral” rating in a report on Thursday, January 29th. Stifel Nicolaus boosted their price objective on shares of Agnico Eagle Mines from C$195.00 to C$300.00 in a research report on Monday, October 20th. Finally, Royal Bank Of Canada lowered shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 10th. Five research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Buy” and an average target price of C$265.50.

Agnico Eagle Mines Price Performance

Shares of TSE AEM traded down C$1.85 during midday trading on Wednesday, reaching C$267.04. The stock had a trading volume of 464,288 shares, compared to its average volume of 1,109,714. The stock has a 50-day moving average of C$253.95 and a 200-day moving average of C$226.72. Agnico Eagle Mines has a 12-month low of C$132.96 and a 12-month high of C$305.68. The company has a market capitalization of C$134.07 billion, a price-to-earnings ratio of 39.04, a price-to-earnings-growth ratio of 22.97 and a beta of 1.54. The company has a debt-to-equity ratio of 7.88, a quick ratio of 0.89 and a current ratio of 1.75.

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

Insider Activity at Agnico Eagle Mines

In related news, insider James Porter sold 3,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of C$247.42, for a total value of C$742,260.00. Following the completion of the sale, the insider directly owned 7,734 shares of the company’s stock, valued at C$1,913,546.28. This represents a 27.95% decrease in their ownership of the stock. Also, insider Ammar Al-Joundi sold 20,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 54,917 shares of the company’s stock, valued at C$13,366,797.80. The trade was a 26.70% decrease in their position. 0.08% of the stock is owned by corporate insiders.

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.