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

Key Points

• Agnico Eagle Mines Limited has received an average rating of "Strong Buy" from eight research firms, with an average target price of C$163.33.
• Insiders sold a total of 36,904 shares worth approximately $6.26 million over the last quarter, indicating potential concerns among executives.
• The company announced a $0.40 quarterly dividend, with an annualized yield of 0.8%, reflecting a payout ratio of 76.24%.

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

A number of equities analysts have recently issued reports on AEM shares. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating in a report on Monday, June 30th.

Insider Buying and Selling

In related news, Senior Officer Ammar Al-Joundi sold 20,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of C$169.00, for a total value of C$3,379,960.00. Also, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of C$170.54, for a total value of C$852,700.00. Insiders sold 36,904 shares of company stock valued at $6,262,292 over the last quarter. Insiders own 0.08% of the company's stock.

Agnico Eagle Mines Stock Down 0.4%

Shares of TSE:AEM opened at C$192.42 on Thursday. The firm has a market cap of C$68.04 billion, a P/E ratio of 67.60, a P/E/G ratio of 22.97 and a beta of 1.10. Agnico Eagle Mines has a 12-month low of C$103.82 and a 12-month high of C$193.34. The business has a fifty day simple moving average of C$173.35 and a 200 day simple moving average of C$160.54. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 7.88.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 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.

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