Agnico Eagle Mines (TSE:AEM) Reaches New 52-Week High – Time to Buy?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$279.89 and last traded at C$280.22, with a volume of 445347 shares changing hands. The stock had previously closed at C$273.74.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AEM shares. National Bankshares upped their price target on Agnico Eagle Mines from C$285.00 to C$300.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Stifel Nicolaus upped their target price on Agnico Eagle Mines from C$195.00 to C$300.00 in a 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 research report on Wednesday, December 10th. Five equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Buy” and a consensus target price of C$235.00.

Agnico Eagle Mines Stock Performance

The stock has a fifty day moving average price of C$239.70 and a 200 day moving average price of C$214.45. The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88. The firm has a market cap of C$139.92 billion, a price-to-earnings ratio of 40.74, a price-to-earnings-growth ratio of 22.97 and a beta of 1.42.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced 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 firm had revenue of C$4.26 billion during the quarter. As a group, analysts predict that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

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

Insiders Place Their Bets

In other Agnico Eagle Mines news, insider Ammar Al-Joundi sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were 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 in the company, valued at C$13,366,797.80. This represents a 26.70% decrease in their ownership of the stock. 0.08% of the stock is currently owned by corporate insiders.

Agnico Eagle Mines Company Profile

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.