Agnico Eagle Mines Limited (TSE:AEM) Receives C$163.33 Consensus Price Target 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 been given an average recommendation of "Strong Buy" by the eight brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, two have issued a buy rating and five have given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$163.33.

AEM has been the subject of several recent research reports. BMO Capital Markets upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Tuesday, April 15th. Stifel Nicolaus boosted their price objective on Agnico Eagle Mines from C$185.00 to C$195.00 in a research report on Monday, April 28th. Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating in a research note on Monday, June 30th.

Insider Transactions at Agnico Eagle Mines

In other Agnico Eagle Mines news, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of Agnico Eagle Mines stock in a transaction on Monday, June 23rd. The stock was sold at an average price of C$170.54, for a total transaction of C$852,700.00. Also, Senior Officer Jean Robitaille sold 11,904 shares of the business's stock in a transaction 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 have sold 36,905 shares of company stock valued at $6,262,456 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Agnico Eagle Mines Price Performance

TSE AEM traded up C$0.30 during trading hours on Friday, hitting C$186.42. The company had a trading volume of 509,891 shares, compared to its average volume of 1,029,556. Agnico Eagle Mines has a 52 week low of C$99.05 and a 52 week high of C$188.58. The firm has a 50 day simple moving average of C$166.97 and a 200 day simple moving average of C$154.95. The company has a debt-to-equity ratio of 7.88, a quick ratio of 0.89 and a current ratio of 1.75. The firm has a market capitalization of C$65.91 billion, a price-to-earnings ratio of 65.50, a PEG ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines Announces Dividend

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

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.