Agnico Eagle Mines (TSE:AEM) Price Target Raised to C$370.00

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price target increased by BMO Capital Markets from C$350.00 to C$370.00 in a research report released on Wednesday morning,BayStreet.CA reports.

A number of other analysts have also recently weighed in on AEM. TD Securities upped their price target on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. National Bank Financial upped their price target on shares of Agnico Eagle Mines from C$330.00 to C$345.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. set a C$337.00 price target on shares of Agnico Eagle Mines and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Stifel Nicolaus upped their price target 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, Erste Group Bank cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus price target of C$323.20.

Agnico Eagle Mines Stock Up 0.4%

Shares of Agnico Eagle Mines stock opened at C$273.41 on Wednesday. The company has a fifty day moving average price of C$294.02 and a 200 day moving average price of C$263.89. 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 has a twelve month low of C$144.21 and a twelve month high of C$348.94. The stock has a market cap of C$136.98 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 22.97 and a beta of 1.87.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings results on Friday, February 13th. The company reported C$3.71 earnings per share for the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. The firm had revenue of C$4.89 billion during the quarter. Equities research analysts forecast 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 issued a $0.45 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 0.7%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 18.06%.

Insider Buying and Selling

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

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.