Agnico Eagle Mines (TSE:AEM) Stock Gets Price Target Cut from National Bank Financial

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price target trimmed by National Bank Financial from C$315.00 to C$310.00 in a research report sent to investors on Tuesday,BayStreet reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on AEM. Barclays lowered their price objective on Agnico Eagle Mines from C$298.00 to C$266.00 in a research report on Thursday, July 16th. Stifel Nicolaus reduced their target price on shares of Agnico Eagle Mines from C$350.00 to C$310.00 in a research report on Friday, July 17th. Finally, Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$292.71.

Agnico Eagle Mines Stock Performance

TSE:AEM opened at C$246.72 on Tuesday. The stock has a market cap of C$123.60 billion, a P/E ratio of 21.12, a PEG ratio of 22.97 and a beta of 2.00. The stock has a 50 day simple moving average of C$273.58 and a 200 day simple moving average of C$252.55. The company has a current ratio of 2.86, a quick ratio of 0.89 and a debt-to-equity ratio of 1.12. Agnico Eagle Mines has a 1-year low of C$188.48 and a 1-year high of C$348.94.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings results on Wednesday, July 29th. The company reported C$4.33 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a return on equity of 22.69% and a net margin of 40.45%. The business had revenue of C$5.53 billion during the quarter. Research analysts anticipate that Agnico Eagle Mines will post 5.50 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.80 annualized dividend and a dividend yield of 0.7%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 14.55%.

Insider Activity at Agnico Eagle Mines

In other news, Director John Merfyn Roberts sold 1,500 shares of Agnico Eagle Mines stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of C$273.35, for a total value of C$410,025.00. Following the completion of the sale, the director directly owned 16,182 shares in the company, valued at approximately C$4,423,349.70. The trade was a 8.48% decrease in their ownership of the stock. Corporate insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

Canadian-based and led, Agnico Eagle is Canada’s largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.