Agnico Eagle Mines (NYSE:AEM) Reaches New 12-Month High at $64.38

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM's share price reached a new 52-week high on Thursday . The stock traded as high as $64.38 and last traded at $64.38, with a volume of 14321 shares traded. The stock had previously closed at $63.69.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. National Bank Financial restated an "outperform overweight" rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. CIBC cut their target price on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an "outperform" rating for the company in a research note on Wednesday, February 7th. Raymond James raised their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an "outperform" rating in a research note on Friday, January 12th. Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a "hold" rating in a research note on Monday. Finally, TD Securities cut their target price on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $64.14.

Agnico Eagle Mines Trading Up 1.9 %

The stock has a market capitalization of $32.37 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 0.94 and a beta of 1.06. The company's 50-day moving average is $56.54 and its 200-day moving average is $52.46. The company has a quick ratio of 0.74, a current ratio of 2.09 and a debt-to-equity ratio of 0.10.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm posted $0.41 earnings per share. Agnico Eagle Mines's revenue was up 26.9% compared to the same quarter last year. Research analysts anticipate that Agnico Eagle Mines Limited will post 2.52 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.40 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.60 annualized dividend and a yield of 2.46%. Agnico Eagle Mines's dividend payout ratio (DPR) is 38.93%.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AEM. Norges Bank purchased a new position in Agnico Eagle Mines in the 4th quarter valued at $325,327,000. FIL Ltd grew its position in Agnico Eagle Mines by 16.4% in the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company's stock valued at $1,102,481,000 after buying an additional 2,831,794 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Agnico Eagle Mines in the 4th quarter valued at $132,257,000. Van ECK Associates Corp grew its position in Agnico Eagle Mines by 9.5% in the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company's stock valued at $1,264,791,000 after buying an additional 1,995,127 shares during the last quarter. Finally, Capital Wealth Planning LLC purchased a new position in Agnico Eagle Mines in the 4th quarter valued at $88,547,000. Institutional investors and hedge funds own 68.34% of the company's stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.