Agnico Eagle Mines (NYSE:AEM) Hits New 52-Week High Following Dividend Announcement

Key Points

• Agnico Eagle Mines reached a new 52-week high of $139.80 following a dividend announcement, with a current dividend yield of 120.0%.
• Analysts have provided a strong consensus on the stock, with five ratings as Strong Buy and an average target price of $136.90.
• The company reported a 35.6% increase in revenue year-over-year, with earnings per share surpassing estimates at $1.94 for the last quarter.

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM shares hit a new 52-week high on Wednesday following a dividend announcement from the company. The company traded as high as $139.80 and last traded at $139.59, with a volume of 2072439 shares trading hands. The stock had previously closed at $136.62.

Analyst Ratings Changes

Several equities analysts have recently commented on AEM shares. Royal Bank Of Canada upped their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a research report on Monday, June 30th. Finally, Bank of America boosted their price target on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Five analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines has an average rating of "Buy" and a consensus target price of $136.90.

Agnico Eagle Mines Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The firm has a market capitalization of $72.52 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 0.95 and a beta of 0.44. The business has a fifty day moving average of $127.10 and a 200-day moving average of $116.00.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm's quarterly revenue was up 35.6% on a year-over-year basis. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Agnico Eagle Mines

Institutional investors have recently bought and sold shares of the stock. Ameritas Advisory Services LLC acquired a new position in Agnico Eagle Mines during the 2nd quarter valued at about $25,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Agnico Eagle Mines in the first quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Agnico Eagle Mines during the first quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in Agnico Eagle Mines during the second quarter worth approximately $29,000. Finally, Private Trust Co. NA lifted its position in Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.