Agnico Eagle Mines (TSE:AEM) Lowered to Hold Rating by Erste Group Bank

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

Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada cut shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. JPMorgan Chase & Co. set a C$337.00 price target on shares of Agnico Eagle Mines and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Stifel Nicolaus lifted their price target on shares of 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. TD Securities upped 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, February 17th. Finally, National Bank Financial increased their price objective on 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. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$314.50.

Agnico Eagle Mines Trading Up 0.2%

TSE AEM opened at C$252.57 on Tuesday. The stock has a market capitalization of C$126.53 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 22.97 and a beta of 1.67. Agnico Eagle Mines has a one year low of C$135.40 and a one year high of C$348.94. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.02 and a quick ratio of 0.89. The business’s fifty day moving average is C$292.05 and its 200-day moving average is C$254.04.

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 net margin of 37.50% and a return on equity of 19.37%. The company had revenue of C$4.89 billion during the quarter. Equities research analysts predict that Agnico Eagle Mines will post 5.4966052 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 16th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.7%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 2nd. Agnico Eagle Mines’s payout ratio is currently 18.06%.

Insiders Place Their Bets

In other Agnico Eagle Mines news, insider Guy Gosselin sold 4,947 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 31,381 shares in the company, valued at C$9,728,110. This trade represents a 13.62% decrease in their ownership of the stock. 0.08% of the stock is 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.