Agnico Eagle Mines Limited (TSE:AEM) Given Average Recommendation of “Strong Buy” by Brokerages

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) have been assigned an average rating of “Strong Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and five have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$198.33.

Separately, Stifel Nicolaus lifted their price objective on shares of Agnico Eagle Mines from C$195.00 to C$300.00 in a report on Monday, October 20th.

Insider Activity

In other news, insider Jean Robitaille sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of C$235.00, for a total transaction of C$705,000.00. Following the completion of the sale, the insider directly owned 1,000 shares of the company’s stock, valued at C$235,000. This trade represents a 75.00% decrease in their position. 0.08% of the stock is currently owned by corporate insiders.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at C$228.33 on Tuesday. The firm has a market capitalization of C$114.63 billion, a P/E ratio of 33.38, a P/E/G ratio of 22.97 and a beta of 1.28. Agnico Eagle Mines has a 52 week low of C$110.70 and a 52 week high of C$263.23. The stock has a 50 day moving average price of C$233.60 and a two-hundred day moving average price of C$199.80. The company has a debt-to-equity ratio of 7.88, a quick ratio of 0.89 and a current ratio of 1.75.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its earnings results on Wednesday, October 29th. The company reported C$2.16 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a return on equity of 5.05% and a net margin of 12.86%.The company had revenue of C$4.26 billion for the quarter. Equities analysts forecast that Agnico Eagle Mines will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 15th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, December 1st. This represents a $1.60 annualized dividend and a yield of 0.7%. Agnico Eagle Mines’s payout ratio is 23.39%.

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.