Agnico Eagle Mines Limited (TSE:AEM) Receives Average Recommendation of "Strong Buy" from Brokerages

Key Points

• Agnico Eagle Mines Limited has received an average rating of "Strong Buy" from eight ratings firms, with an average price target of C$163.33.
• The company has announced a quarterly dividend of $0.40 per share, representing an annualized yield of 0.9%.
• Insider activity shows significant selling, with over 40,000 shares sold by company officers in the last ninety days.

Shares of Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM have earned an average recommendation of "Strong Buy" from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, two have given a buy rating and five have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$163.33.

Several research analysts have recently issued reports on the company. Stifel Nicolaus raised their price target on Agnico Eagle Mines from C$185.00 to C$195.00 in a research report on Monday, April 28th. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. BMO Capital Markets raised Agnico Eagle Mines to a "strong-buy" rating in a report on Tuesday, April 15th. Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating in a research note on Monday, June 30th.

Agnico Eagle Mines Price Performance

AEM traded up C$12.68 during midday trading on Friday, reaching C$185.42. 1,511,586 shares of the company's stock were exchanged, compared to its average volume of 1,030,897. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 7.88. The business has a 50-day simple moving average of C$166.02 and a two-hundred day simple moving average of C$154.52. Agnico Eagle Mines has a one year low of C$99.05 and a one year high of C$185.98. The firm has a market capitalization of C$65.56 billion, a price-to-earnings ratio of 65.14, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Agnico Eagle Mines's dividend payout ratio is currently 76.24%.

Insiders Place Their Bets

In other news, Senior Officer Ammar Al-Joundi sold 20,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$169.00, for a total transaction of C$3,379,960.00. Also, Senior Officer Jean Robitaille sold 11,904 shares of Agnico Eagle Mines stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$170.50, for a total value of C$2,029,632.00. Insiders sold a total of 36,905 shares of company stock valued at $6,262,456 in the last quarter. Corporate insiders own 0.08% of the company's stock.

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.