Agnico Eagle Mines Limited (TSE:AEM) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts hold a “Moderate Buy” consensus on Agnico Eagle Mines, with five buy, two strong-buy and four hold ratings. The average 12-month price target is C$292.71.
• The stock opened at C$245.54 after a reported 4.1% decline, trading below its 50-day and 200-day moving averages. Agnico Eagle has a market capitalization of approximately C$123.01 billion.
• The company reported quarterly earnings of C$3.72 per share on C$5.10 billion in revenue, alongside a quarterly dividend of $0.45 per share, equivalent to a 0.7% annualized yield.

Shares of Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM have been assigned a consensus recommendation of "Moderate Buy" from the eleven analysts that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$292.71.

AEM has been the subject of a number of analyst reports. Barclays cut their price objective on shares of Agnico Eagle Mines from C$298.00 to C$266.00 in a research report on Thursday, July 16th. TD reduced their price objective on shares of Agnico Eagle Mines from C$244.00 to C$242.00 and set a "buy" rating for the company in a research report on Tuesday, October 20th. Freedom Broker lowered Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 22nd. National Bank Financial dropped their target price on Agnico Eagle Mines from C$315.00 to C$310.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 20th. Finally, Stifel Nicolaus cut their target price on Agnico Eagle Mines from C$350.00 to C$310.00 in a research note on Friday, July 17th.

Agnico Eagle Mines Trading Down 4.1%

TSE:AEM opened at C$245.54 on Friday. Agnico Eagle Mines has a 12-month low of C$188.48 and a 12-month high of C$348.94. The company has a current ratio of 2.75, a quick ratio of 0.89 and a debt-to-equity ratio of 1.11. The stock's 50 day simple moving average is C$271.48 and its 200-day simple moving average is C$263.06. The firm has a market cap of C$123.01 billion, a P/E ratio of 21.02, a PEG ratio of 22.97 and a beta of 2.00.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last issued its quarterly earnings results on Wednesday, October 28th. The company reported C$3.72 earnings per share for the quarter. The firm had revenue of C$5.10 billion during the quarter. Agnico Eagle Mines had a return on equity of 22.64% and a net margin of 41.00%. Equities analysts anticipate that Agnico Eagle Mines will post 5.50 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 1st. Agnico Eagle Mines's dividend payout ratio is currently 14.55%.

Insiders Place Their Bets

In other Agnico Eagle Mines news, Director John Merfyn Roberts sold 1,500 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of C$273.35, for a total value of C$410,025.00. Following the completion of the transaction, the director owned 16,182 shares in the company, valued at approximately C$4,423,349.70. This represents a 8.48% decrease in their ownership of the stock. 0.08% of the stock is owned by corporate insiders.

Agnico Eagle Mines Company Profile

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

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