Agnico Eagle Mines (TSE:AEM) Reaches New 1-Year High - Here's What Happened

Key Points

• Agnico Eagle Mines Limited (TSE:AEM) shares reached a new 52-week high of C$238.97, with a current trading price of C$233.21 and a trading volume of 530,602 shares.
• Analysts have a positive outlook for the company, with an average rating of Strong Buy and multiple analysts recently upgrading their ratings.
• The company declared a quarterly dividend of $0.40 per share, representing an annualized dividend of $1.60 and a yield of 0.7%.

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM shares hit a new 52-week high during trading on Thursday . The company traded as high as C$238.97 and last traded at C$233.21, with a volume of 530602 shares trading hands. The stock had previously closed at C$237.31.

Analyst Ratings Changes

A number of research analysts have recently commented on AEM shares. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating in a report on Monday, June 30th. Five investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Strong Buy" and an average price target of C$163.33.

Agnico Eagle Mines Price Performance

The stock has a market capitalization of C$118.20 billion, a price-to-earnings ratio of 39.93, a price-to-earnings-growth ratio of 22.97 and a beta of 1.02. 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 stock has a 50-day simple moving average of C$198.34 and a 200 day simple moving average of C$173.26.

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 15th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 2nd. Agnico Eagle Mines's payout ratio is currently 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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