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Agnico Eagle Mines (NYSE:AEM) Sees Strong Trading Volume

Financial News Live · Sep 28, 2022 12:14

Agnico Eagle Mines Limited (NYSE:AEM – Get Rating) (TSE:AEM) saw strong trading volume on Wednesday . 119,350 shares were traded during mid-day trading, a decline of 96% from the previous session's volume of 2,704,129 shares.The stock last traded at $39.78 and had previously closed at $37.65.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group started coverage on Agnico Eagle Mines in a research note on Monday, September 12th. They issued a "buy" rating and a $55.00 price objective for the company. Canaccord Genuity Group upped their price target on Agnico Eagle Mines from C$89.00 to C$91.00 and gave the stock a "buy" rating in a research note on Tuesday, September 20th. Barclays cut their price target on Agnico Eagle Mines from $70.00 to $62.00 and set an "overweight" rating for the company in a research note on Tuesday, July 19th. TheStreet cut Agnico Eagle Mines from a "b-" rating to a "c" rating in a research note on Tuesday, July 12th. Finally, Stifel Nicolaus cut their price target on Agnico Eagle Mines from C$100.00 to C$89.00 in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

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Agnico Eagle Mines Price Performance

The company has a 50-day simple moving average of $42.55 and a 200-day simple moving average of $50.65. The stock has a market cap of $18.14 billion, a PE ratio of 21.39, a PEG ratio of 16.66 and a beta of 0.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.58 and a quick ratio of 1.48.

Agnico Eagle Mines (NYSE:AEM – Get Rating) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 27th. The mining company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.18. The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.57 billion. Agnico Eagle Mines had a return on equity of 7.56% and a net margin of 12.45%. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 2.25 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend was Wednesday, August 31st. Agnico Eagle Mines's dividend payout ratio (DPR) is 90.91%.

Institutional Trading of Agnico Eagle Mines

Several large investors have recently bought and sold shares of AEM. Capital Wealth Alliance LLC acquired a new stake in shares of Agnico Eagle Mines during the second quarter valued at $230,000. Federated Hermes Inc. boosted its stake in shares of Agnico Eagle Mines by 10.1% during the second quarter. Federated Hermes Inc. now owns 1,694,400 shares of the mining company's stock valued at $77,536,000 after acquiring an additional 155,400 shares during the last quarter. Hussman Strategic Advisors Inc. boosted its stake in shares of Agnico Eagle Mines by 140.1% during the second quarter. Hussman Strategic Advisors Inc. now owns 182,500 shares of the mining company's stock valued at $8,351,000 after acquiring an additional 106,500 shares during the last quarter. Amundi boosted its stake in shares of Agnico Eagle Mines by 17.6% during the second quarter. Amundi now owns 4,639,835 shares of the mining company's stock valued at $208,399,000 after acquiring an additional 693,761 shares during the last quarter. Finally, M&G Investment Management Ltd. boosted its stake in shares of Agnico Eagle Mines by 0.9% during the second quarter. M&G Investment Management Ltd. now owns 218,113 shares of the mining company's stock valued at $9,997,000 after acquiring an additional 1,899 shares during the last quarter. Institutional investors and hedge funds own 57.62% of the company's stock.

About Agnico Eagle Mines

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Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits.