Agnico Eagle Mines (NYSE:AEM) Hits New 1-Year High on Analyst Upgrade

Shares of Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM reached a new 52-week high on Tuesday after Royal Bank of Canada raised their price target on the stock from $96.00 to $105.00. Royal Bank of Canada currently has an outperform rating on the stock. Agnico Eagle Mines traded as high as $101.45 and last traded at $100.46, with a volume of 2388226 shares. The stock had previously closed at $98.35.

Several other equities research analysts also recently weighed in on the stock. Scotiabank upped their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a "sector outperform" rating in a report on Tuesday, January 21st. Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a "hold" rating in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $92.75.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently bought and sold shares of AEM. Norges Bank acquired a new stake in Agnico Eagle Mines in the 4th quarter valued at about $573,446,000. FMR LLC raised its holdings in Agnico Eagle Mines by 43.5% during the 3rd quarter. FMR LLC now owns 15,061,244 shares of the mining company's stock worth $1,213,311,000 after buying an additional 4,562,005 shares during the period. Capital World Investors raised its holdings in Agnico Eagle Mines by 41.9% during the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after buying an additional 4,121,164 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Agnico Eagle Mines by 81.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock worth $551,339,000 after buying an additional 3,155,927 shares during the period. Finally, AGF Management Ltd. raised its holdings in Agnico Eagle Mines by 184.6% during the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company's stock worth $109,205,000 after buying an additional 905,328 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 5.0 %

The company has a fifty day simple moving average of $86.51 and a 200-day simple moving average of $83.16. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The stock has a market cap of $48.15 billion, a price-to-earnings ratio of 47.87, a P/E/G ratio of 0.66 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 8.88% and a net margin of 12.86%. On average, research analysts forecast that Agnico Eagle Mines Limited will post 4.14 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.67%. Agnico Eagle Mines's payout ratio is presently 42.33%.

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.