Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits. Its flagship property is the LaRonde mine located in the Abitibi region of northwestern Quebec, Canada. As of December 31, 2021, the company's LaRonde mine had proven and probable mineral reserves of approximately 3.0 million ounces of gold. It is also involved in exploration activities in Europe, Latin America, and the United States. The company was incorporated in 1953 and is headquartered in Toronto, Canada.
Analyst Ratings Changes
AEM has been the subject of several recent analyst reports. TheStreet cut shares of Agnico Eagle Mines from a "b-" rating to a "c" rating in a research note on Tuesday, July 12th. Barclays cut their price target on shares of Agnico Eagle Mines from $70.00 to $62.00 and set an "overweight" rating for the company in a research note on Tuesday, July 19th. National Bank Financial lowered their price objective on shares of Agnico Eagle Mines from C$98.00 to C$75.00 in a report on Thursday, July 21st. Raymond James lowered their price objective on shares of Agnico Eagle Mines from $76.00 to $72.00 and set an "outperform" rating for the company in a report on Friday, May 13th. Finally, Stifel Nicolaus lowered their price objective on shares of Agnico Eagle Mines from C$100.00 to C$89.00 in a report on Wednesday, July 20th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $76.89.
Agnico Eagle Mines Trading Down 0.7 %
NYSE:AEM traded down $0.30 during midday trading on Friday, reaching $43.46. 2,748,437 shares of the stock traded hands, compared to its average volume of 4,268,898. The company has a fifty day moving average of $46.98 and a 200 day moving average of $53.08. Agnico Eagle Mines has a 12 month low of $38.02 and a 12 month high of $67.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.48 and a current ratio of 2.58. The stock has a market capitalization of $19.83 billion, a P/E ratio of 24.69, a PEG ratio of 19.80 and a beta of 0.81.
Agnico Eagle Mines Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, August 31st. This represents a $1.60 dividend on an annualized basis and a yield of 3.68%. Agnico Eagle Mines's dividend payout ratio is currently 90.91%.