Agnico Eagle Mines Ltd (AEM) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Agnico Eagle Mines Ltd (TSE:AEM) (NYSE:AEM) have been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is C$65.86.

AEM has been the subject of several research analyst reports. Royal Bank Of Canada boosted their target price on shares of Agnico Eagle Mines to C$70.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 11th. Scotiabank reaffirmed an “outperform” rating and set a C$77.00 price objective on shares of Agnico Eagle Mines in a research report on Friday, April 28th. TD Securities reaffirmed a “hold” rating and set a C$65.00 price objective on shares of Agnico Eagle Mines in a research report on Friday, April 28th. Canaccord Genuity boosted their price objective on shares of Agnico Eagle Mines from C$72.00 to C$73.00 in a research report on Thursday, July 27th. Finally, National Bank Financial raised shares of Agnico Eagle Mines from a “sector perform” rating to an “outperform” rating in a research report on Sunday, July 23rd.

Shares of Agnico Eagle Mines (AEM) opened at 59.02 on Friday. Agnico Eagle Mines has a 52 week low of $46.91 and a 52 week high of $77.32. The stock’s 50 day moving average is $58.05 and its 200 day moving average is $60.69. The firm has a market cap of $13.65 billion and a P/E ratio of 54.25.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Wednesday, August 30th.

In related news, Director John Merfyn Roberts sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of C$58.00, for a total transaction of C$58,000.00. Also, insider David Smith sold 13,750 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of C$66.30, for a total transaction of C$911,625.00. In the last ninety days, insiders have sold 42,250 shares of company stock valued at $2,799,500.

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Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.

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