Agnico Eagle Mines (TSE:AEM) Reaches New 52-Week High on Analyst Upgrade

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM's stock price hit a new 52-week high during trading on Tuesday after Stifel Nicolaus raised their price target on the stock from C$114.00 to C$140.00. The stock traded as high as C$121.82 and last traded at C$121.35, with a volume of 314682 shares traded. The stock had previously closed at C$119.88.

Other equities research analysts also recently issued research reports about the company. Eight Capital upped their target price on Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. Cormark increased their price objective on shares of Agnico Eagle Mines from C$110.00 to C$115.00 in a research report on Monday, June 24th. National Bankshares set a C$104.00 target price on shares of Agnico Eagle Mines and gave the stock an "outperform" rating in a research report on Monday, June 24th. Canaccord Genuity Group raised their price target on shares of Agnico Eagle Mines from C$105.00 to C$118.00 in a report on Tuesday, July 23rd. Finally, UBS Group upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Tuesday, September 17th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of "Buy" and a consensus target price of C$110.29.

Insider Activity

In other Agnico Eagle Mines news, Director John Merfyn Roberts sold 2,000 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of C$111.84, for a total transaction of C$223,680.00. In related news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of C$101.85, for a total transaction of C$2,546,250.00. Also, Director John Merfyn Roberts sold 2,000 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of C$111.84, for a total value of C$223,680.00. Over the last 90 days, insiders have sold 115,000 shares of company stock valued at $12,518,150. Insiders own 0.08% of the company's stock.

Agnico Eagle Mines Stock Up 1.5 %

The stock has a market capitalization of C$60.94 billion, a P/E ratio of 76.01, a PEG ratio of 22.97 and a beta of 1.10. The stock's fifty day moving average is C$108.99 and its two-hundred day moving average is C$97.72. The company has a debt-to-equity ratio of 9.94, a current ratio of 1.51 and a quick ratio of 0.89.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last announced its earnings results on Wednesday, July 31st. The company reported C$1.46 EPS for the quarter, beating the consensus estimate of C$1.27 by C$0.19. The business had revenue of C$2.84 billion during the quarter, compared to the consensus estimate of C$2.36 billion. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%. As a group, research analysts predict that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.547 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.19 dividend on an annualized basis and a dividend yield of 1.80%. This is a positive change from Agnico Eagle Mines's previous quarterly dividend of $0.40. Agnico Eagle Mines's dividend payout ratio is presently 135.63%.

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.