Agnico Eagle Mines (TSE:AEM) Price Target Raised to C$350.00

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price target upped by Stifel Nicolaus from C$300.00 to C$350.00 in a research report sent to investors on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on AEM. National Bank Financial raised their price target on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. 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. Finally, JPMorgan Chase & Co. set a C$337.00 price target on Agnico Eagle Mines and gave the company a “neutral” rating in a report on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Buy” and an average target price of C$278.00.

Agnico Eagle Mines Price Performance

AEM opened at C$279.62 on Tuesday. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.75 and a quick ratio of 0.89. The stock’s 50 day simple moving average is C$259.32 and its 200 day simple moving average is C$231.14. The firm has a market cap of C$140.38 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 22.97 and a beta of 1.54. Agnico Eagle Mines has a 1 year low of C$132.96 and a 1 year high of C$305.68.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings data on Wednesday, October 29th. The company reported C$3.01 earnings per share 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 will post 5.4966052 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

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

Insider Activity

In related news, insider James Porter sold 3,000 shares of Agnico Eagle Mines stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the sale, the insider directly owned 7,734 shares in the company, valued at C$1,913,546.28. The trade was 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 on Wednesday, November 26th. The stock was sold at an average price of C$243.40, for a total value of C$4,868,000.00. Following the completion of the sale, the insider directly owned 54,917 shares in the company, valued at approximately C$13,366,797.80. The trade was a 26.70% decrease in their ownership of the stock. Company insiders own 0.08% of the company’s stock.

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.