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

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$314.50.

Several research analysts have recently commented on the stock. National Bank Financial raised their target price on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Stifel Nicolaus boosted their price target on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. TD Securities increased their price target on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lowered Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Erste Group Bank upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th.

Insider Activity at Agnico Eagle Mines

In other news, insider James Porter sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the completion of the sale, the insider owned 7,734 shares of the company’s stock, valued at approximately C$1,913,546.28. This represents a 27.95% decrease in their position. Also, insider Guy Gosselin sold 4,947 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of C$310.00, for a total transaction of C$1,533,570.00. Following the sale, the insider owned 31,381 shares in the company, valued at C$9,728,110. This represents a 13.62% decrease in their position. 0.08% of the stock is currently owned by insiders.

Agnico Eagle Mines Trading Down 6.4%

AEM stock opened at C$268.76 on Thursday. Agnico Eagle Mines has a 52 week low of C$135.40 and a 52 week high of C$348.94. The company has a market capitalization of C$134.46 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 22.97 and a beta of 1.67. The company’s 50-day simple moving average is C$293.34 and its 200 day simple moving average is C$252.38. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.89 and a current ratio of 2.02.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings data on Friday, February 13th. The company reported C$3.71 earnings per share for the quarter. The business had revenue of C$4.89 billion during the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. As a group, sell-side analysts anticipate that Agnico Eagle Mines will post 5.4966052 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

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

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. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.