Agnico Eagle Mines (TSE:AEM) Reaches New 52-Week High – Should You Buy?

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$154.00 and last traded at C$153.77, with a volume of 317523 shares changing hands. The stock had previously closed at C$149.58.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AEM shares. Royal Bank of Canada lifted their price objective on Agnico Eagle Mines to C$105.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Finally, National Bankshares raised their target price on shares of Agnico Eagle Mines from C$160.00 to C$190.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$128.71.

Agnico Eagle Mines Price Performance

The company has a market cap of C$53.91 billion, a price-to-earnings ratio of 53.57, a P/E/G ratio of 22.97 and a beta of 1.10. The company’s 50-day simple moving average is C$139.22 and its 200-day simple moving average is C$123.14. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s payout ratio is 76.24%.

Insider Buying and Selling

In other news, Senior Officer Ammar Al-Joundi sold 17,936 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of C$111.84, for a total transaction of C$2,005,962.24. Also, Director Martine Celej sold 2,208 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of C$111.84, for a total transaction of C$246,942.72. Insiders have sold 85,269 shares of company stock valued at $10,634,722 in the last quarter. Company insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.