Agnico Eagle Mines (TSE:AEM) Reaches New 1-Year 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%.

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

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of research analyst reports. BMO Capital Markets raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Tuesday, April 15th. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating in a research report on Monday, June 30th. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Cfra Research raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Stifel Nicolaus increased their price target on shares of Agnico Eagle Mines from C$185.00 to C$195.00 in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Strong Buy" and a consensus price target of C$163.33.

Agnico Eagle Mines Trading Up 0.4%

The business's 50-day moving average is C$166.51 and its two-hundred day moving average is C$154.74. The firm has a market cap of C$65.81 billion, a P/E ratio of 65.39, a P/E/G ratio of 22.97 and a beta of 1.10. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.75 and a quick ratio of 0.89.

Agnico Eagle Mines Dividend Announcement

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 issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Agnico Eagle Mines's payout ratio is 76.24%.

Insiders Place Their Bets

In other Agnico Eagle Mines news, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of Agnico Eagle Mines stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of C$170.54, for a total value of C$852,700.00. Also, Senior Officer Jean Robitaille sold 11,904 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of C$170.50, for a total transaction of C$2,029,632.00. Insiders sold 36,905 shares of company stock worth $6,262,456 in the last quarter. 0.08% of the stock is currently owned by corporate 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.

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