Agnico Eagle Mines (TSE:AEM) Sets New 52-Week High - What's Next?

Key Points

• Agnico Eagle Mines recently reached a new 52-week high, trading at C$227.05, indicating strong market performance.
• Analyst upgrades point to a consensus rating of "Strong Buy" and a target price of C$163.33, with multiple firms raising their ratings.
• The company announced a quarterly dividend of $0.40 per share, reflecting a yield of 0.7% and a dividend payout ratio of 27.21%.

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM hit a new 52-week high on Friday . The stock traded as high as C$227.05 and last traded at C$226.99, with a volume of 142183 shares traded. The stock had previously closed at C$223.00.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating in a research note on Monday, June 30th. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Five 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's stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of "Strong Buy" and a consensus target price of C$163.33.

Agnico Eagle Mines Stock Up 1.8%

The firm's 50-day simple moving average is C$193.25 and its two-hundred day simple moving average is C$170.88. The company has a market capitalization of C$114.31 billion, a price-to-earnings ratio of 38.61, a price-to-earnings-growth ratio of 22.97 and a beta of 1.02. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.75 and a quick ratio of 0.89.

Agnico Eagle Mines Announces Dividend

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

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.

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