Agnico Eagle Mines (TSE:AEM) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$203.11 and traded as high as C$235.46. Agnico Eagle Mines shares last traded at C$232.49, with a volume of 1,187,461 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AEM shares. National Bankshares upped their price objective on Agnico Eagle Mines from C$285.00 to C$300.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Royal Bank Of Canada cut shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Stifel Nicolaus increased their price target on shares of Agnico Eagle Mines from C$195.00 to C$300.00 in a report on Monday, October 20th. Five investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$235.00.

Agnico Eagle Mines Trading Up 0.7%

The company has a debt-to-equity ratio of 7.88, a quick ratio of 0.89 and a current ratio of 1.75. The firm has a market capitalization of C$117.06 billion, a price-to-earnings ratio of 33.99, a P/E/G ratio of 22.97 and a beta of 1.28. The company has a 50 day moving average price of C$233.03 and a two-hundred day moving average price of C$203.11.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings results on Wednesday, October 29th. The company reported C$2.16 earnings per share (EPS) for the quarter. The firm had revenue of C$4.26 billion for the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. On average, research analysts forecast that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. Agnico Eagle Mines’s payout ratio is currently 23.39%.

Insiders Place Their Bets

In related news, insider Jean Robitaille sold 3,000 shares of Agnico Eagle Mines stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of C$235.00, for a total value of C$705,000.00. Following the sale, the insider directly owned 1,000 shares in the company, valued at approximately C$235,000. The trade was a 75.00% decrease in their position. Corporate insiders own 0.08% of the company’s stock.

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.