Agnico Eagle Mines (TSE:AEM) Sets New 52-Week High After Dividend Announcement

Key Points

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Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM's share price hit a new 52-week high on Thursday following a dividend announcement from the company. The stock traded as high as C$178.40 and last traded at C$175.15, with a volume of 294316 shares trading hands. The stock had previously closed at C$170.70.

The newly announced dividend which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Agnico Eagle Mines's dividend payout ratio (DPR) is currently 76.24%.

Analysts Set New Price Targets

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

Agnico Eagle Mines Price Performance

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$166.02 and a 200-day simple moving average of C$154.52. The firm has a market cap of C$61.08 billion, a PE ratio of 60.69, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10.

Insider Transactions at Agnico Eagle Mines

In related news, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of the business's 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. Also, Senior Officer Jean Robitaille sold 11,904 shares of Agnico Eagle Mines stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$170.50, for a total value of C$2,029,632.00. Insiders sold a total of 36,905 shares of company stock valued at $6,262,456 over the last 90 days. Company insiders own 0.08% of the company's stock.

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.