Agnico Eagle Mines (TSE:AEM) Reaches New 12-Month High – Time to Buy?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s share price reached a new 52-week high on Wednesday . The company traded as high as C$115.18 and last traded at C$115.06, with a volume of 45160 shares. The stock had previously closed at C$113.22.

Analysts Set New Price Targets

Several research firms have issued reports on AEM. Canaccord Genuity Group increased their target price on shares of Agnico Eagle Mines from C$105.00 to C$118.00 in a research note on Tuesday, July 23rd. UBS Group raised Agnico Eagle Mines to a “strong-buy” rating in a report on Tuesday, September 17th. Cormark raised their target price on shares of Agnico Eagle Mines from C$110.00 to C$115.00 in a research note on Monday, June 24th. National Bankshares set a C$104.00 price target on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Monday, June 24th. Finally, Eight Capital upped their target price on shares of Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$105.14.

Agnico Eagle Mines Price Performance

The firm has a fifty day moving average of C$108.46 and a two-hundred day moving average of C$97.11. The company has a current ratio of 1.51, a quick ratio of 0.89 and a debt-to-equity ratio of 9.94. The company has a market capitalization of C$56.84 billion, a PE ratio of 70.91, a PEG ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its earnings results on Wednesday, July 31st. The company reported C$1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.27 by C$0.19. Agnico Eagle Mines had a net margin of 8.49% and a return on equity of 3.10%. The firm had revenue of C$2.84 billion for the quarter, compared to analysts’ expectations of C$2.36 billion. Research analysts anticipate that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.547 per share. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $2.19 annualized dividend and a dividend yield of 1.93%. Agnico Eagle Mines’s payout ratio is 135.63%.

Insider Activity at Agnico Eagle Mines

In other news, Director John Merfyn Roberts sold 2,000 shares of Agnico Eagle Mines stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of C$111.84, for a total transaction of C$223,680.00. In other Agnico Eagle Mines news, Senior Officer Dominique Girard sold 11,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$104.33, for a total value of C$1,147,630.00. Also, Director John Merfyn Roberts sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of C$111.84, for a total value of C$223,680.00. Insiders have sold a total of 115,000 shares of company stock worth $12,518,150 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

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.