Agnico Eagle Mines (TSE:AEM) Posts Earnings Results

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) released its earnings results on Friday. The company reported C$3.71 EPS for the quarter, FiscalAI reports. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%.

Agnico Eagle Mines Stock Up 5.0%

AEM traded up C$14.01 during trading on Friday, reaching C$293.63. 470,006 shares of the stock traded hands, compared to its average volume of 1,117,729. The stock’s 50-day simple moving average is C$259.32 and its two-hundred day simple moving average is C$231.14. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.75 and a quick ratio of 0.89. Agnico Eagle Mines has a fifty-two week low of C$132.96 and a fifty-two week high of C$305.68. The stock has a market cap of C$147.42 billion, a price-to-earnings ratio of 42.93, a price-to-earnings-growth ratio of 22.97 and a beta of 1.54.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, December 1st. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 23.39%.

Analyst Ratings Changes

Several research firms have recently weighed in on AEM. JPMorgan Chase & Co. set a C$337.00 price objective on Agnico Eagle Mines and gave the stock a “neutral” rating in a research note on Thursday, January 29th. National Bank Financial boosted their price objective on Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Stifel Nicolaus raised 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 report on Tuesday. Finally, 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. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$278.00.

Insider Activity

In other news, insider James Porter sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the completion of the sale, the insider directly owned 7,734 shares of the company’s stock, valued at C$1,913,546.28. This trade represents a 27.95% decrease in their position. Also, insider Ammar Al-Joundi sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of C$243.40, for a total value of C$4,868,000.00. Following the completion of the sale, the insider directly owned 54,917 shares of the company’s stock, valued at approximately C$13,366,797.80. The trade was a 26.70% decrease in their position. Corporate insiders own 0.08% of the company’s stock.

Agnico Eagle Mines Company Profile

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.