Agnico Eagle Mines (NYSE:AEM) Sets New 1-Year High - Should You Buy?

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $120.89 and last traded at $120.62, with a volume of 2701225 shares trading hands. The stock had previously closed at $118.39.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Raymond James boosted their price objective on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Bank of America upped their price target on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. UBS Group lifted their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. TD Securities lowered their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Finally, Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a "hold" rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $124.40.

Agnico Eagle Mines Stock Performance

The company has a market capitalization of $62.38 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The stock's fifty day simple moving average is $103.84 and its 200-day simple moving average is $91.21.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.40 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.29%. Agnico Eagle Mines's payout ratio is currently 42.33%.

Institutional Trading of Agnico Eagle Mines

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in shares of Agnico Eagle Mines by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company's stock worth $1,745,858,000 after acquiring an additional 778,919 shares during the period. Vanguard Group Inc. raised its stake in Agnico Eagle Mines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company's stock worth $1,554,180,000 after purchasing an additional 331,087 shares during the period. Capital World Investors boosted its holdings in shares of Agnico Eagle Mines by 41.9% in the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock valued at $1,091,550,000 after purchasing an additional 4,121,164 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Agnico Eagle Mines by 0.7% during the 4th quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock valued at $932,008,000 after buying an additional 87,410 shares during the period. Finally, Norges Bank purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at $573,446,000. 68.34% of the stock is owned by institutional investors and hedge funds.

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.