Agnico Eagle Mines (TSE:AEM) Reaches New 52-Week High - Time to Buy?

Key Points

• Agnico Eagle Mines shares reached a new 52-week high at C$223.86, with strong trading volume of over 1.7 million shares.
• Investment analysts have rated Agnico Eagle Mines predominantly positively, with a consensus rating of “Strong Buy” and an average price target of C$163.33.
• The company recently declared a quarterly dividend of $0.40 per share, representing an annual yield of 0.7%.

Shares of Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$223.86 and last traded at C$223.02, with a volume of 1707475 shares trading hands. The stock had previously closed at C$213.01.

Analyst Ratings Changes

Several research firms have recently issued reports on AEM. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating in a research note 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Strong Buy" and an average price target of C$163.33.

Agnico Eagle Mines Price Performance

The business's 50 day moving average is C$188.53 and its two-hundred day moving average is C$168.82. The firm has a market cap of C$111.84 billion, a P/E ratio of 37.78, a P/E/G ratio of 22.97 and a beta of 1.02. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 7.88.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 15th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Agnico Eagle Mines's payout ratio is 27.21%.

Insiders Place Their Bets

In other Agnico Eagle Mines news, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of Agnico Eagle Mines stock in a transaction on Monday, June 23rd. The shares were sold at an average price of C$170.54, for a total value of C$852,700.00. 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.