Agnico Eagle Mines Limited (TSE:AEM) Given Average Rating of "Strong Buy" by Brokerages

Key Points

• Agnico Eagle Mines Limited has received a consensus rating of "Strong Buy" from eight analysts, with an average target price of C$198.33.
• Recent updates from equity research firms include an upgrade to a "strong buy" rating by TD Securities and an increased price target to C$300.00 by Stifel Nicolaus.
• The company recently declared a quarterly dividend of $0.40 per share, representing a 0.6% yield and a payout ratio of 27.21%.

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM has been given a consensus recommendation of "Strong Buy" by the eight analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, two have given a buy recommendation and five have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$198.33.

Several research firms have recently weighed in on AEM. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating in a research note on Monday, June 30th. Finally, Stifel Nicolaus increased their price objective on shares of Agnico Eagle Mines from C$195.00 to C$300.00 in a research report on Monday.

Insider Buying and Selling at Agnico Eagle Mines

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

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock traded up C$6.18 during midday trading on Monday, hitting C$250.59. 381,383 shares of the company were exchanged, compared to its average volume of 1,014,434. 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 business has a fifty day simple moving average of C$213.12 and a two-hundred day simple moving average of C$180.80. Agnico Eagle Mines has a fifty-two week low of C$105.23 and a fifty-two week high of C$263.23. The firm has a market capitalization of C$126.17 billion, a PE ratio of 42.62, a price-to-earnings-growth ratio of 22.97 and a beta of 1.24.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 15th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 27.21%.

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.

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