Agnico Eagle Mines (TSE:AEM) Sets New 52-Week High - Here's What Happened

Key Points

• Agnico Eagle Mines' stock reached a new **52-week high** of C$187.00 during trading, closing at C$185.29 with **348,466 shares** traded.
• Multiple analysts have upgraded Agnico Eagle Mines, with **BMO Capital Markets** and **TD Securities** rating it as a "strong buy," contributing to a consensus rating of "**Strong Buy**."
• The company announced a quarterly dividend of **$0.40 per share**, scheduled for September 15th, reflecting a **dividend yield of 0.9%** and a payout ratio of 76.24%.

Shares of Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM reached a new 52-week high during trading on Wednesday . The stock traded as high as C$187.00 and last traded at C$185.29, with a volume of 348466 shares. The stock had previously closed at C$185.42.

Analyst Ratings Changes

Several analysts have commented on the stock. BMO Capital Markets raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Tuesday, April 15th. Cfra Research raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Stifel Nicolaus boosted their target price on shares of 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. Finally, Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating in a report on Monday, June 30th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Strong Buy" and an average target price of C$163.33.

Agnico Eagle Mines Trading Up 0.0%

The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88. The company's fifty day moving average is C$167.96 and its 200-day moving average is C$156.18. The firm has a market capitalization of C$66.00 billion, a P/E ratio of 65.58, a P/E/G 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.9%. Agnico Eagle Mines's payout ratio is currently 76.24%.

Insider Activity at Agnico Eagle Mines

In related news, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of C$170.54, for a total transaction of C$852,700.00. Also, Senior Officer Ammar Al-Joundi sold 20,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of C$169.00, for a total transaction of C$3,379,960.00. Insiders sold a total of 36,904 shares of company stock worth $6,262,292 in the last ninety days. 0.08% of the stock is currently owned by insiders.

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.