Agnico Eagle Mines Limited (AEM.TO) (TSE:AEM) Hits New 52-Week Low Following Insider Selling

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Agnico Eagle Mines Limited (AEM.TO) (TSE:AEM) (NYSE:AEM)’s share price reached a new 52-week low on Wednesday after an insider sold shares in the company. The company traded as low as C$0.09 and last traded at C$0.09, with a volume of 535469 shares trading hands. The stock had previously closed at C$89.41.

Specifically, Senior Officer David Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of C$107.10, for a total value of C$1,071,000.00. Following the completion of the transaction, the insider now owns 25,267 shares in the company, valued at approximately C$2,706,095.70. Also, Senior Officer Ammar Al-Joundi acquired 1,000 shares of the stock in a transaction on Tuesday, November 10th. The stock was purchased at an average cost of C$97.19 per share, with a total value of C$97,190.00. Following the transaction, the insider now directly owns 104,545 shares of the company’s stock, valued at C$10,160,728.55. Over the last ninety days, insiders have sold 128,279 shares of company stock valued at $11,663,311.

Several research firms recently issued reports on AEM. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Agnico Eagle Mines Limited (AEM.TO) in a research note on Thursday, October 29th. National Bank Financial dropped their target price on Agnico Eagle Mines Limited (AEM.TO) from C$128.00 to C$124.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 18th. Eight Capital increased their price target on Agnico Eagle Mines Limited (AEM.TO) from C$105.00 to C$140.00 in a report on Wednesday, October 14th. Finally, Raymond James restated an “outperform” rating and set a C$95.00 price objective on shares of Agnico Eagle Mines Limited (AEM.TO) in a report on Wednesday, January 6th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Agnico Eagle Mines Limited (AEM.TO) has an average rating of “Buy” and a consensus price target of C$117.00.

The company has a debt-to-equity ratio of 30.67, a quick ratio of 0.79 and a current ratio of 2.37. The business’s 50 day moving average price is C$89.97 and its 200-day moving average price is C$98.58. The firm has a market cap of C$21.55 million and a price-to-earnings ratio of 33.87.

Agnico Eagle Mines Limited (AEM.TO) (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings results on Wednesday, October 28th. The company reported C$1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.90 by C$0.14. The firm had revenue of C$1.31 billion during the quarter. On average, analysts forecast that Agnico Eagle Mines Limited will post 0.6589269 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 25th were issued a dividend of $0.466 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2,095.79%. This is a boost from Agnico Eagle Mines Limited (AEM.TO)’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, November 24th. Agnico Eagle Mines Limited (AEM.TO)’s dividend payout ratio is 29.46%.

Agnico Eagle Mines Limited (AEM.TO) Company Profile (TSE:AEM)

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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