Agnico Eagle Mines (TSE:AEM) Cut to Hold at Erste Group Bank

Erste Group Bank downgraded shares of Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports. Erste Group Bank also issued estimates for Agnico Eagle Mines’ FY2027 earnings at $19.46 EPS.

A number of other equities research analysts also recently issued reports on AEM. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 10th. TD Securities raised their price objective on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. National Bank Financial lifted their price objective on Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Stifel Nicolaus boosted their target price on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, JPMorgan Chase & Co. set a C$337.00 target price on Agnico Eagle Mines and gave the company a “neutral” rating in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of C$314.50.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at C$260.02 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 2.02 and a debt-to-equity ratio of 1.68. Agnico Eagle Mines has a 52-week low of C$135.40 and a 52-week high of C$348.94. The company has a 50-day simple moving average of C$291.53 and a 200-day simple moving average of C$254.16. The company has a market capitalization of C$130.27 billion, a PE ratio of 29.35, a P/E/G ratio of 22.97 and a beta of 1.67.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings data on Friday, February 13th. The company reported C$3.71 EPS for the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. The firm had revenue of C$4.89 billion for the quarter. Equities research analysts predict that Agnico Eagle Mines will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 16th were given a $0.45 dividend. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 18.06%.

Insider Buying and Selling at Agnico Eagle Mines

In other news, insider Guy Gosselin sold 4,947 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of C$310.00, for a total transaction of C$1,533,570.00. Following the completion of the transaction, the insider directly owned 31,381 shares of the company’s stock, valued at C$9,728,110. This trade represents a 13.62% decrease in their position. 0.08% of the stock is currently owned by company 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.