Canaccord Genuity Group Boosts Agnico Eagle Mines (TSE:AEM) Price Target to C$118.00

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price objective raised by Canaccord Genuity Group from C$105.00 to C$118.00 in a research report released on Tuesday, BayStreet.CA reports.

Several other analysts also recently weighed in on AEM. National Bank Financial restated an outperform overweight rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Eight Capital increased their target price on Agnico Eagle Mines from C$105.00 to C$115.00 in a research note on Thursday, July 11th. National Bankshares set a C$104.00 target price on Agnico Eagle Mines and gave the company an outperform rating in a research note on Monday, June 24th. Stifel Nicolaus increased their target price on Agnico Eagle Mines from C$94.00 to C$104.00 and gave the company a buy rating in a research note on Friday, April 19th. Finally, Cormark raised their price objective on Agnico Eagle Mines from C$110.00 to C$115.00 in a research report on Monday, June 24th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of C$105.14.

Agnico Eagle Mines Price Performance

Shares of TSE:AEM opened at C$101.01 on Tuesday. The business has a 50 day moving average price of C$94.14 and a 200 day moving average price of C$82.18. Agnico Eagle Mines has a twelve month low of C$59.36 and a twelve month high of C$105.99. The company has a market cap of C$50.32 billion, a price-to-earnings ratio of 93.53, a PEG ratio of 22.97 and a beta of 1.04. The company has a quick ratio of 0.89, a current ratio of 2.21 and a debt-to-equity ratio of 10.14.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its earnings results on Thursday, April 25th. The company reported C$1.02 earnings per share for the quarter, beating the consensus estimate of C$0.82 by C$0.20. Agnico Eagle Mines had a return on equity of 2.39% and a net margin of 6.79%. The firm had revenue of C$2.47 billion during the quarter, compared to the consensus estimate of C$2.20 billion. Research analysts predict that Agnico Eagle Mines will post 4.3937412 earnings per share for the current year.

Agnico Eagle Mines Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, June 14th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.58%. Agnico Eagle Mines’s dividend payout ratio is currently 199.07%.

Insider Transactions at Agnico Eagle Mines

In related news, Director John Merfyn Roberts sold 1,000 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of C$89.27, for a total transaction of C$89,267.00. In other news, Director John Merfyn Roberts sold 1,000 shares of Agnico Eagle Mines stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of C$89.27, for a total value of C$89,267.00. Also, Director Sean Boyd sold 120,000 shares of Agnico Eagle Mines stock in a transaction on Monday, May 6th. The shares were sold at an average price of C$90.08, for a total value of C$10,809,600.00. In the last ninety days, insiders sold 163,279 shares of company stock valued at $14,798,903. Corporate insiders own 0.09% of the company’s stock.

Agnico Eagle Mines Company Profile

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.