Agnico Eagle Mines (TSE:AEM) Cut to “Hold” at UBS Group

UBS Group downgraded shares of Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. National Bank Financial raised Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Royal Bank of Canada raised their price objective on Agnico Eagle Mines to C$105.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, National Bankshares boosted their price objective on Agnico Eagle Mines from C$160.00 to C$190.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$128.71.

Agnico Eagle Mines Stock Performance

AEM stock opened at C$153.99 on Monday. The stock’s 50 day simple moving average is C$142.20 and its 200 day simple moving average is C$124.88. The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88. Agnico Eagle Mines has a 12-month low of C$81.75 and a 12-month high of C$158.10. The stock has a market capitalization of C$54.45 billion, a PE ratio of 54.10, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.04%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 76.24%.

Insiders Place Their Bets

In related news, Director John Merfyn Roberts sold 2,000 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of C$118.43, for a total value of C$236,860.00. Also, Senior Officer Christopher Charles Norman Vollmershausen sold 6,000 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of C$155.55, for a total transaction of C$933,300.00. In the last quarter, insiders have sold 71,125 shares of company stock valued at $9,315,117. Insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.