Agnico Eagle Mines (NYSE:AEM) Hits New 1-Year High – Should You Buy?

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

Wall Street Analysts Forecast Growth

AEM has been the subject of several research analyst reports. StockNews.com cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Jefferies Financial Group upped their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. Royal Bank of Canada lifted their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. TD Securities reduced their price objective 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. Finally, Scotiabank increased their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.78.

Agnico Eagle Mines Trading Up 0.7 %

The business’s 50-day moving average price is $93.47 and its 200 day moving average price is $86.06. The company has a market cap of $52.44 billion, a P/E ratio of 27.63, a P/E/G ratio of 0.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

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

Hedge Funds Weigh In On Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc bought a new stake in Agnico Eagle Mines during the 4th quarter valued at $26,000. Smartleaf Asset Management LLC grew its position in shares of Agnico Eagle Mines by 859.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after acquiring an additional 318 shares during the period. Decker Retirement Planning Inc. purchased a new stake in Agnico Eagle Mines in the 4th quarter worth about $29,000. Fifth Third Bancorp boosted its holdings in shares of Agnico Eagle Mines by 176.9% in the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after acquiring an additional 260 shares during the period. Finally, Duncker Streett & Co. Inc. boosted its position in shares of Agnico Eagle Mines by 37.3% in the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after acquiring an additional 112 shares during the period. 68.34% of the stock is 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.