Analysts Set Agnico Eagle Mines Limited (AEM) Price Target at $64.00

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) have received an average recommendation of “Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$64.00.

Several brokerages have recently weighed in on AEM. Desjardins restated a “buy” rating and issued a C$60.00 target price on shares of Agnico Eagle Mines in a research note on Monday, December 11th. Canaccord Genuity upped their target price on shares of Agnico Eagle Mines from C$73.00 to C$76.00 in a research note on Friday, September 29th. Royal Bank of Canada restated a “sector perform” rating on shares of Agnico Eagle Mines in a research note on Monday, September 11th. Finally, Eight Capital restated a “neutral” rating on shares of Agnico Eagle Mines in a research note on Thursday, November 16th.

In related news, Director Deborah Mccombe acquired 500 shares of Agnico Eagle Mines stock in a transaction on Tuesday, September 19th. The shares were purchased at an average cost of C$58.24 per share, for a total transaction of C$29,120.00.

Shares of Agnico Eagle Mines (AEM) traded up C$0.71 during mid-day trading on Thursday, hitting C$55.36. 2,040,000 shares of the stock traded hands, compared to its average volume of 680,771. Agnico Eagle Mines has a fifty-two week low of C$46.91 and a fifty-two week high of C$68.76.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.137 per share. This represents a $0.55 dividend on an annualized basis and a yield of 0.99%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, November 30th. Agnico Eagle Mines’s dividend payout ratio is 26.67%.

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Agnico Eagle Mines Company Profile

Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.

Analyst Recommendations for Agnico Eagle Mines (TSE:AEM)

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