Agnico Eagle Mines (TSE:AEM) Hits New 52-Week High - Still a Buy?

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM's stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$122.65 and last traded at C$122.59, with a volume of 332902 shares changing hands. The stock had previously closed at C$120.52.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AEM shares. UBS Group upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Tuesday, September 17th. Stifel Nicolaus boosted their price target on Agnico Eagle Mines from C$114.00 to C$140.00 in a research note on Monday, October 21st. Canaccord Genuity Group upped their price target on Agnico Eagle Mines from C$105.00 to C$118.00 in a report on Tuesday, July 23rd. Finally, Eight Capital lifted their price objective on Agnico Eagle Mines from C$105.00 to C$115.00 in a report on Thursday, July 11th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of "Buy" and an average price target of C$110.29.

Agnico Eagle Mines Trading Up 2.7 %

The company has a 50-day simple moving average of C$110.94 and a 200-day simple moving average of C$99.19. The company has a debt-to-equity ratio of 9.94, a quick ratio of 0.89 and a current ratio of 1.51. The stock has a market cap of C$62.00 billion, a P/E ratio of 77.34, a P/E/G ratio of 22.97 and a beta of 1.10.

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

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.547 per share. This is a boost from Agnico Eagle Mines's previous quarterly dividend of $0.40. This represents a $2.19 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Friday, August 30th. Agnico Eagle Mines's dividend payout ratio is 135.63%.

Insider Buying and Selling

In related news, Senior Officer Dominique Girard sold 11,000 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$104.33, for a total value of C$1,147,630.00. In other news, Director John Merfyn Roberts sold 2,000 shares of the firm's stock in a transaction 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. Also, Senior Officer Dominique Girard sold 11,000 shares of the company's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$104.33, for a total value of C$1,147,630.00. Insiders sold 115,000 shares of company stock worth $12,518,150 in the last quarter. 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.