Agnico Eagle Mines (TSE:AEM) Sets New 52-Week High – Time to Buy?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) hit a new 52-week high on Monday . The company traded as high as C$124.20 and last traded at C$124.04, with a volume of 43448 shares trading hands. The stock had previously closed at C$123.09.

Analysts Set New Price Targets

A number of brokerages have issued reports on AEM. Stifel Nicolaus upped their target price on Agnico Eagle Mines from C$114.00 to C$140.00 in a research report on Monday, October 21st. National Bankshares upped their target price on Agnico Eagle Mines from C$143.00 to C$144.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Buy” and an average target price of C$116.00.

Agnico Eagle Mines Price Performance

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 company’s 50 day moving average price is C$116.87 and its 200-day moving average price is C$110.72. The company has a market cap of C$63.68 billion, a price-to-earnings ratio of 79.44, a PEG ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported C$1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.35 by C$0.21. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%. The company had revenue of C$2.94 billion for the quarter, compared to analysts’ expectations of C$2.50 billion. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, November 29th. Agnico Eagle Mines’s dividend payout ratio is 135.63%.

Insider Buying and Selling

In other news, Senior Officer Christopher Charles Norman Vollmershausen sold 15,072 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of C$110.27, for a total value of C$1,661,989.44. Also, Director Sean Boyd sold 10,000 shares of Agnico Eagle Mines stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of C$116.15, for a total value of C$1,161,500.00. In the last quarter, insiders have sold 124,616 shares of company stock valued at $14,417,931. 0.08% of the stock is owned by corporate insiders.

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.