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 report issued on Tuesday morning, Zacks.com reports.

AEM has been the subject of several other reports. National Bankshares set a C$104.00 target price on Agnico Eagle Mines and gave the company an outperform rating in a research report on Monday, June 24th. Canaccord Genuity Group lifted their target price on Agnico Eagle Mines from C$105.00 to C$118.00 in a research report on Tuesday, July 23rd. Eight Capital lifted their target price on Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. Finally, Cormark lifted their target price on Agnico Eagle Mines from C$110.00 to C$115.00 in a research report on Monday, June 24th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of Buy and an average target price of C$105.14.

Agnico Eagle Mines Stock Up 1.6 %

TSE AEM opened at C$112.72 on Tuesday. Agnico Eagle Mines has a 52 week low of C$59.36 and a 52 week high of C$114.76. The company has a quick ratio of 0.89, a current ratio of 1.51 and a debt-to-equity ratio of 9.94. The business’s fifty day simple moving average is C$105.86 and its 200-day simple moving average is C$92.58. The firm has a market cap of C$56.48 billion, a PE ratio of 71.34, a P/E/G ratio of 22.97 and a beta of 1.10.

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

Agnico Eagle Mines Increases Dividend

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

Insider Activity

In other news, Senior Officer Dominique Girard sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$113.49, for a total value of C$2,269,800.00. In related news, Senior Officer Dominique Girard sold 20,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of C$113.49, for a total transaction of C$2,269,800.00. Also, Director John Merfyn Roberts sold 1,000 shares of the company’s 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. Over the last 90 days, insiders have sold 101,000 shares of company stock valued at $10,906,117. Company insiders own 0.08% 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.