Agnico Eagle Mines (TSE:AEM) Cut to “Hold” at Erste Group Bank

Erste Group Bank cut shares of Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. set a C$337.00 price objective on shares of Agnico Eagle Mines and gave the stock a “neutral” rating in a report on Thursday, January 29th. Royal Bank Of Canada lowered Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 10th. National Bank Financial upped their price target on Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. TD Securities lifted their price objective on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus boosted their price objective on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$272.60.

Agnico Eagle Mines Price Performance

TSE:AEM opened at C$311.56 on Wednesday. Agnico Eagle Mines has a 52 week low of C$132.96 and a 52 week high of C$313.43. The stock’s fifty day moving average is C$267.66 and its two-hundred day moving average is C$236.48. The company has a market capitalization of C$155.88 billion, a P/E ratio of 35.16, a P/E/G ratio of 22.97 and a beta of 1.54. 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 issued its quarterly earnings data on Friday, February 13th. The company reported C$3.71 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. The firm had revenue of C$4.89 billion for the quarter. 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 declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders 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 annualized dividend and a dividend yield of 0.5%. Agnico Eagle Mines’s payout ratio is 18.06%.

Insider Buying and Selling at Agnico Eagle Mines

In other Agnico Eagle Mines news, insider James Porter sold 3,000 shares of the company’s stock in a transaction dated 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 owned 7,734 shares in the company, valued at C$1,913,546.28. This represents a 27.95% decrease in their position. Also, insider Ammar Al-Joundi sold 20,000 shares of the stock in a transaction dated Wednesday, November 26th. The shares were 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 C$13,366,797.80. This represents a 26.70% decrease in their position. 0.08% of the stock is currently owned by company 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.