Agnico Eagle Mines (TSE:AEM) Lifted to Strong-Buy at UBS Group

UBS Group upgraded shares of Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) to a strong-buy rating in a research note issued to investors on Tuesday, Zacks.com reports.

A number of other equities analysts also recently commented on AEM. National Bankshares set a C$104.00 price objective on Agnico Eagle Mines and gave the stock an outperform rating in a report on Monday, June 24th. Cormark increased their target price on Agnico Eagle Mines from C$110.00 to C$115.00 in a research note on Monday, June 24th. 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. Finally, Canaccord Genuity Group increased their target price on Agnico Eagle Mines from C$105.00 to C$118.00 in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines has a consensus rating of Buy and a consensus price target of C$105.14.

Agnico Eagle Mines Stock Performance

TSE AEM opened at C$112.72 on Tuesday. The business’s 50-day moving average price is C$105.86 and its 200 day moving average price is C$92.58. Agnico Eagle Mines has a twelve month low of C$59.36 and a twelve month high of C$114.76. The company has a market capitalization of C$56.48 billion, a PE ratio of 71.34, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10. The company has a current ratio of 1.51, a quick ratio of 0.89 and a debt-to-equity ratio of 9.94.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$1.46 EPS for the quarter, topping analysts’ consensus estimates of C$1.27 by C$0.19. The company had revenue of C$2.84 billion for 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%. On average, research analysts predict that Agnico Eagle Mines will post 5.5012201 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.547 per share. This represents a $2.19 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Friday, August 30th. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is 137.34%.

Insider Buying and Selling at Agnico Eagle Mines

In other Agnico Eagle Mines news, Director John Merfyn Roberts sold 1,000 shares of the firm’s stock in a transaction that occurred 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 Agnico Eagle Mines news, Director John Merfyn Roberts sold 1,000 shares of the firm’s stock in a transaction that occurred 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. Also, Senior Officer Dominique Girard sold 11,000 shares of the firm’s stock in a transaction that occurred on 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 a total of 101,000 shares of company stock worth $10,906,117 in the last 90 days. 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.