Agnico Eagle Mines (TSE:AEM) Reaches New 52-Week High – Still a Buy?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$266.59 and last traded at C$264.22, with a volume of 465790 shares. The stock had previously closed at C$258.47.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Agnico Eagle Mines from C$195.00 to C$300.00 in a research note on Monday, October 20th. National Bankshares upped their target price on shares of Agnico Eagle Mines from C$285.00 to C$300.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Finally, Royal Bank Of Canada cut shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 10th. Five analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Buy” and an average target price of C$235.00.

Agnico Eagle Mines Stock Performance

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$236.78 and its 200 day moving average is C$212.15. The stock has a market capitalization of C$133.49 billion, a price-to-earnings ratio of 38.87, a PEG ratio of 22.97 and a beta of 1.42.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The company reported C$3.01 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. The company had revenue of C$4.26 billion for the quarter. On average, analysts predict that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.60 annualized dividend and a yield of 0.6%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 23.39%.

Insider Buying and Selling at Agnico Eagle Mines

In other news, insider Ammar Al-Joundi sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of C$243.40, for a total value of C$4,868,000.00. Following the sale, the insider directly owned 54,917 shares in the company, valued at C$13,366,797.80. This represents a 26.70% decrease in their ownership of the stock. 0.08% of the stock is currently owned by company 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.