Agnico Eagle Mines (NYSE:AEM) Hits New 12-Month High – Here’s Why

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $101.80 and last traded at $100.36, with a volume of 415773 shares traded. The stock had previously closed at $97.03.

Analyst Ratings Changes

A number of equities research analysts have commented on AEM shares. StockNews.com lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Scotiabank increased 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. TD Securities decreased their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada increased their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, Raymond James set a $105.00 price objective on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus price target of $95.78.

Agnico Eagle Mines Stock Up 0.5 %

The firm’s 50 day moving average is $92.61 and its two-hundred day moving average is $85.74. The firm has a market cap of $50.81 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing the consensus estimate 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, research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently announced 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 of this dividend is Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.58%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 42.33%.

Institutional Trading of Agnico Eagle Mines

Several hedge funds have recently bought and sold shares of AEM. Versant Capital Management Inc acquired a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC raised its holdings in Agnico Eagle Mines by 859.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after buying an additional 318 shares during the period. Decker Retirement Planning Inc. acquired a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $29,000. Fifth Third Bancorp raised its holdings in Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after buying an additional 260 shares during the period. Finally, Duncker Streett & Co. Inc. raised its holdings in Agnico Eagle Mines by 37.3% during the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after buying an additional 112 shares during the period. 68.34% of the stock is currently 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.