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 topic of several recent analyst reports. TheStreet lowered Agnico Eagle Mines from a "b-" rating to a "c" rating in a report on Tuesday, July 12th. National Bank Financial dropped their target price on Agnico Eagle Mines from C$98.00 to C$75.00 in a report on Thursday, July 21st. Barclays dropped their target price on Agnico Eagle Mines from $70.00 to $62.00 and set an "overweight" rating on the stock in a report on Tuesday, July 19th. Raymond James dropped their target price on Agnico Eagle Mines from $76.00 to $72.00 and set an "outperform" rating on the stock in a report on Friday, May 13th. Finally, Stifel Nicolaus decreased their price objective on shares of Agnico Eagle Mines from C$100.00 to C$89.00 in a research note on Wednesday, July 20th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $76.89.
Agnico Eagle Mines Price Performance
Agnico Eagle Mines stock traded down $0.59 during mid-day trading on Friday, reaching $43.57. The company had a trading volume of 54,291 shares, compared to its average volume of 4,162,464. Agnico Eagle Mines has a 1 year low of $38.02 and a 1 year high of $67.14. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.58 and a quick ratio of 1.48. The company has a market capitalization of $19.88 billion, a P/E ratio of 25.09, a P/E/G ratio of 19.41 and a beta of 0.81. The stock's 50-day simple moving average is $45.47 and its 200-day simple moving average is $52.80.
Agnico Eagle Mines Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a $0.40 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $1.60 dividend on an annualized basis and a yield of 3.67%. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 90.91%.