Agnico Eagle Mines (TSE:AEM) Announces Earnings Results

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) issued its quarterly earnings results on Thursday. The company reported C$4.70 EPS for the quarter, FiscalAI reports. The firm had revenue of C$5.70 billion during the quarter. Agnico Eagle Mines had a return on equity of 19.37% and a net margin of 37.50%.

Agnico Eagle Mines Stock Up 1.7%

TSE AEM traded up C$4.22 on Thursday, hitting C$255.43. 1,296,614 shares of the stock traded hands, compared to its average volume of 1,021,878. The stock has a 50-day moving average of C$291.87 and a 200 day moving average of C$264.71. Agnico Eagle Mines has a twelve month low of C$144.21 and a twelve month high of C$348.94. The company has a market capitalization of C$127.97 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 22.97 and a beta of 1.87. The company has a current ratio of 2.02, a quick ratio of 0.89 and a debt-to-equity ratio of 1.68.

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%.

Insider Transactions at Agnico Eagle Mines

In other Agnico Eagle Mines news, insider Guy Gosselin sold 4,947 shares of the company’s 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 sale, the insider owned 31,381 shares in the company, valued at C$9,728,110. This represents a 13.62% decrease in their ownership of the stock. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on AEM shares. Stifel Nicolaus increased their price target on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. reduced their price target on Agnico Eagle Mines from C$321.00 to C$300.00 in a report on Thursday, April 23rd. National Bank Financial increased their price target on Agnico Eagle Mines from C$330.00 to C$345.00 and gave the company an “outperform” rating in a report on Friday, April 17th. TD Securities increased their price target on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, BMO Capital Markets upped their price objective on Agnico Eagle Mines from C$350.00 to C$370.00 in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of C$323.20.

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.