National Bankshares Increases Agnico Eagle Mines (TSE:AEM) Price Target to C$320.00

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price objective hoisted by equities research analysts at National Bankshares from C$300.00 to C$320.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price target would indicate a potential upside of 23.37% from the stock’s previous close.

Several other research firms have also issued reports on AEM. JPMorgan Chase & Co. set a C$337.00 price target on shares of Agnico Eagle Mines and gave the stock a “neutral” rating in a report on Thursday, January 29th. Stifel Nicolaus boosted their target price on Agnico Eagle Mines from C$195.00 to C$300.00 in a research note on Monday, October 20th. Finally, Royal Bank Of Canada lowered Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Five equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$265.50.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at C$259.39 on Wednesday. The company has a market capitalization of C$130.23 billion, a PE ratio of 37.92, a P/E/G ratio of 22.97 and a beta of 1.54. The company has a 50-day simple moving average of C$254.98 and a two-hundred day simple moving average of C$227.29. Agnico Eagle Mines has a one year low of C$132.96 and a one year high of C$305.68. The company has a debt-to-equity ratio of 7.88, a quick ratio of 0.89 and a current ratio of 1.75.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings data on Wednesday, October 29th. The company reported C$3.01 earnings per share (EPS) for the quarter. The firm had revenue of C$4.26 billion for the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. Research analysts expect that Agnico Eagle Mines will post 5.4966052 EPS for the current fiscal year.

Insider Activity

In related news, insider James Porter sold 3,000 shares of Agnico Eagle Mines stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the completion of the sale, the insider owned 7,734 shares of the company’s stock, valued at C$1,913,546.28. The trade was a 27.95% decrease in their ownership of the stock. Also, insider Ammar Al-Joundi sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of C$243.40, for a total value of C$4,868,000.00. Following the completion of the sale, the insider owned 54,917 shares in the company, valued at approximately C$13,366,797.80. This represents a 26.70% decrease in their position. 0.08% of the stock is currently owned by insiders.

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. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.