Agnico Eagle Mines Limited (TSE:AEM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$314.50.

A number of brokerages recently issued reports on AEM. National Bank Financial lifted their price target on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. set a C$337.00 price objective on shares of Agnico Eagle Mines and gave the company a “neutral” rating in a research note on Thursday, January 29th. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 10th. Stifel Nicolaus boosted their target price on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, TD Securities upped their target price on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th.

Insider Buying and Selling

In other Agnico Eagle Mines news, insider Guy Gosselin sold 4,947 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of C$310.00, for a total transaction of C$1,533,570.00. Following the transaction, the insider owned 31,381 shares of the company’s stock, valued at C$9,728,110. This trade represents a 13.62% decrease in their position. 0.08% of the stock is currently owned by corporate insiders.

Agnico Eagle Mines Price Performance

Shares of TSE AEM opened at C$265.81 on Thursday. The company has a quick ratio of 0.89, a current ratio of 2.02 and a debt-to-equity ratio of 1.68. Agnico Eagle Mines has a fifty-two week low of C$135.40 and a fifty-two week high of C$348.94. The business has a 50 day moving average price of C$291.90 and a two-hundred day moving average price of C$254.12. The firm has a market cap of C$133.17 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 22.97 and a beta of 1.67.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its earnings results on Friday, February 13th. The company reported C$3.71 earnings per share (EPS) for the quarter. The company had revenue of C$4.89 billion for the quarter. Agnico Eagle Mines had a return on equity of 19.37% and a net margin of 37.50%. Sell-side analysts expect that Agnico Eagle Mines will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 16th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, March 2nd. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.7%. Agnico Eagle Mines’s payout ratio is currently 18.06%.

About Agnico Eagle Mines

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. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.