Agnico Eagle Mines (TSE:AEM) Upgraded to Strong-Buy at Erste Group Bank

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

Other analysts also recently issued reports about the stock. National Bank Financial lifted their price target on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. 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. TD Securities boosted their target price on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. set a C$337.00 price target on Agnico Eagle Mines and gave the company a “neutral” rating in a research note on Thursday, January 29th. Finally, Stifel Nicolaus upped their price objective on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Buy” and an average price target of C$314.50.

Agnico Eagle Mines Price Performance

TSE:AEM opened at C$303.00 on Thursday. The company has a quick ratio of 0.89, a current ratio of 2.02 and a debt-to-equity ratio of 1.68. Agnico Eagle Mines has a 52 week low of C$135.40 and a 52 week high of C$348.94. The business’s 50-day simple moving average is C$283.70 and its two-hundred day simple moving average is C$245.44. The stock has a market cap of C$151.59 billion, a PE ratio of 34.20, a P/E/G ratio of 22.97 and a beta of 1.67.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its quarterly earnings results on Friday, February 13th. The company reported C$3.71 earnings per share for the quarter. Agnico Eagle Mines had a return on equity of 19.37% and a net margin of 37.50%.The business had revenue of C$4.89 billion during the quarter. As a group, analysts forecast that Agnico Eagle Mines will post 5.4966052 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 16th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio is 18.06%.

Insider Activity at Agnico Eagle Mines

In other Agnico Eagle Mines news, insider Guy Gosselin sold 4,947 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of C$310.00, for a total transaction of C$1,533,570.00. Following the transaction, the insider owned 31,381 shares in the company, valued at C$9,728,110. The trade was a 13.62% decrease in their ownership of the stock. Also, insider James Porter sold 3,000 shares of the stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the completion of the sale, the insider directly owned 7,734 shares in the company, valued at approximately C$1,913,546.28. This represents a 27.95% decrease in their position. Insiders own 0.08% of the company’s stock.

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.