Agnico Eagle Mines (TSE:AEM) Cut to “Hold” at Royal Bank Of Canada

Royal Bank Of Canada lowered shares of Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) from a moderate buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on AEM. National Bankshares boosted their price objective on shares of Agnico Eagle Mines from C$285.00 to C$300.00 and gave the company an “outperform” rating in a research report on Tuesday. Stifel Nicolaus boosted their target price on Agnico Eagle Mines from C$195.00 to C$300.00 in a research report on Monday, October 20th. Five investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$235.00.

Agnico Eagle Mines Stock Performance

AEM stock opened at C$231.62 on Wednesday. The stock’s 50 day simple moving average is C$233.21 and its 200 day simple moving average is C$201.19. The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88. Agnico Eagle Mines has a 12-month low of C$110.70 and a 12-month high of C$263.23. The stock has a market capitalization of C$116.28 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 22.97 and a beta of 1.28.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its quarterly earnings results on Wednesday, October 29th. The company reported C$2.16 earnings per share for the quarter. The firm had revenue of C$4.26 billion during the quarter. Agnico Eagle Mines had a return on equity of 5.05% and a net margin of 12.86%. As a group, research analysts forecast that Agnico Eagle Mines will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, December 1st. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 23.39%.

Insider Activity at Agnico Eagle Mines

In other Agnico Eagle Mines news, insider Jean Robitaille sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of C$235.00, for a total transaction of C$705,000.00. Following the completion of the sale, the insider owned 1,000 shares in the company, valued at C$235,000. This trade represents a 75.00% decrease in their position. Company insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020.