Agnico Eagle Mines (NYSE:AEM) Reaches New 12-Month High – Time to Buy?

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) hit a new 52-week high on Monday . The company traded as high as $105.16 and last traded at $104.74, with a volume of 263668 shares changing hands. The stock had previously closed at $103.60.

Wall Street Analyst Weigh In

AEM has been the subject of several analyst reports. TD Securities decreased their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Jefferies Financial Group raised their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. Scotiabank lifted their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, StockNews.com lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and an average price target of $95.78.

Agnico Eagle Mines Stock Performance

The stock has a market capitalization of $52.44 billion, a PE ratio of 27.63, a PEG 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. The firm’s 50-day simple moving average is $93.47 and its two-hundred day simple moving average is $86.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results 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%. On average, equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is presently 42.33%.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of hedge funds have recently added to or reduced their stakes in AEM. Charles Schwab Investment Management Inc. grew its position in shares of Agnico Eagle Mines by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after buying an additional 32,991 shares during the period. Bridgewater Associates LP lifted its stake in shares of Agnico Eagle Mines by 123.2% in the 3rd quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock valued at $16,448,000 after purchasing an additional 112,712 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Agnico Eagle Mines by 78.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company’s stock worth $255,000 after purchasing an additional 1,431 shares during the period. Caldwell Investment Management Ltd. increased its holdings in Agnico Eagle Mines by 12.0% in the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock valued at $6,812,000 after purchasing an additional 9,400 shares during the last quarter. Finally, Forsta AP Fonden boosted its holdings in Agnico Eagle Mines by 8.9% during the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock worth $15,256,000 after buying an additional 16,000 shares during the last quarter. Institutional investors own 68.34% 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.