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

Key Points

• Agnico Eagle Mines Limited shares hit a new 52-week high of C$243.47, showcasing a significant increase from the previous close of C$230.16.
• The company has received an analyst consensus rating of "Strong Buy," with multiple upgrades from institutions such as TD Securities and Raymond James Financial.
• A quarterly dividend of $0.40 per share was recently paid, representing an annualized yield of 0.7% and a dividend payout ratio of 27.21%.

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$243.47 and last traded at C$241.29, with a volume of 484253 shares changing hands. The stock had previously closed at C$230.16.

Analyst Upgrades and Downgrades

AEM has been the topic of several recent analyst reports. TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating in a report on Monday, June 30th. Five research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Agnico Eagle Mines has an average rating of "Strong Buy" and a consensus target price of C$163.33.

Agnico Eagle Mines Trading Up 4.5%

The company's fifty day moving average is C$208.08 and its two-hundred day moving average is C$178.15. The company has a debt-to-equity ratio of 7.88, a quick ratio of 0.89 and a current ratio of 1.75. The company has a market cap of C$121.13 billion, a price-to-earnings ratio of 40.91, a P/E/G ratio of 22.97 and a beta of 1.24.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 27.21%.

Insider Activity at Agnico Eagle Mines

In other news, insider Jean Robitaille sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of C$235.00, for a total transaction of C$705,000.00. Following the sale, the insider owned 1,000 shares of the company's stock, valued at C$235,000. This trade represents a 75.00% decrease in their position. 0.08% of the stock is owned by insiders.

About Agnico Eagle Mines

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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