Agnico Eagle Mines (TSE:AEM) Sets New 12-Month High – Here’s Why

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) hit a new 52-week high on Thursday . The stock traded as high as C$154.00 and last traded at C$153.77, with a volume of 317523 shares trading hands. The stock had previously closed at C$149.58.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. National Bankshares upped their price target on Agnico Eagle Mines from C$160.00 to C$190.00 and gave the company an “outperform” rating in a research report on Wednesday, March 19th. Finally, Royal Bank of Canada boosted their target price on Agnico Eagle Mines to C$105.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Four analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$128.71.

Agnico Eagle Mines Trading Down 0.4 %

The company has a market cap of C$54.38 billion, a P/E ratio of 54.03, a PEG ratio of 22.97 and a beta of 1.10. The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88. The stock’s 50 day moving average is C$140.49 and its 200-day moving average is C$123.75.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 14th were issued a $0.40 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a yield of 1.04%. Agnico Eagle Mines’s payout ratio is currently 76.24%.

Insider Activity at Agnico Eagle Mines

In other news, Senior Officer Ammar Al-Joundi sold 17,936 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of C$111.84, for a total transaction of C$2,005,962.24. Also, Director Martine Celej sold 2,208 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of C$111.84, for a total transaction of C$246,942.72. In the last three months, insiders have sold 85,269 shares of company stock valued at $10,634,722. 0.08% of the stock is owned by corporate insiders.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.