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Agnico Eagle Mines (TSE:AEM) Hits New 52-Week High - Here's Why

Agnico Eagle Mines logo with Basic Materials background

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 Tuesday . The stock traded as high as C$175.50 and last traded at C$175.60, with a volume of 617348 shares trading hands. The stock had previously closed at C$167.92.

Wall Street Analyst Weigh In

Several analysts have issued reports on AEM shares. Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, April 25th. UBS Group lowered Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 31st. Stifel Nicolaus upped their price target on Agnico Eagle Mines from C$185.00 to C$195.00 in a research note on Monday, April 28th. BMO Capital Markets raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Strong Buy" and an average target price of C$163.33.

Check Out Our Latest Analysis on AEM

Agnico Eagle Mines Trading Up 1.3%

The company has a 50 day moving average price of C$164.34 and a 200 day moving average price of C$151.95. The firm has a market cap of C$61.50 billion, a price-to-earnings ratio of 61.10, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10. The company has a debt-to-equity ratio of 7.88, a quick ratio of 0.89 and a current ratio of 1.75.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 16th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines's payout ratio is 76.24%.

Insider Activity

In related news, Senior Officer Ammar Al-Joundi sold 20,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of C$169.00, for a total transaction of C$3,379,960.00. Also, Director Sean Boyd sold 5,200 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of C$161.51, for a total value of C$839,852.00. Insiders have sold 45,632 shares of company stock worth $7,657,810 in the last quarter. Insiders own 0.08% of the company's stock.

Agnico Eagle Mines Company Profile

(Get Free Report)

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.

Further Reading

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