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

Key Points

• Agnico Eagle Mines shares reached a new 52-week high at C$214.46 during trading, with a last traded price of C$210.74 and a volume of 398,223 shares.
• Analysts have a consensus rating of "Strong Buy" for Agnico Eagle Mines, with five ratings for Strong Buy, two for Buy, and one for Hold.
• The firm announced a quarterly dividend of $0.40 per share, yielding 0.8%, to be paid on September 15th, with a payout ratio of 27.21%.

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM shares hit a new 52-week high during trading on Tuesday . The stock traded as high as C$214.46 and last traded at C$210.74, with a volume of 398223 shares. The stock had previously closed at C$212.93.

Wall Street Analyst Weigh In

Several analysts have commented on AEM shares. 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 given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Strong Buy" and a consensus target price of C$163.33.

Agnico Eagle Mines Stock Performance

The firm has a market cap of C$106.32 billion, a PE ratio of 35.99, a PEG 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 firm's 50 day simple moving average is C$179.45 and its 200 day simple moving average is C$164.40.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 15th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. Agnico Eagle Mines's dividend payout ratio is currently 27.21%.

Insider Activity

In other news, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of C$170.54, for a total transaction of C$852,700.00. Corporate insiders own 0.08% of the company's stock.

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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