Agnico Eagle Mines (TSE:AEM) Stock Price Crosses Above 200 Day Moving Average Following Insider Selling

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s share price passed above its 200-day moving average during trading on Wednesday after an insider bought additional shares in the company. The stock has a 200-day moving average of C$133.84 and traded as high as C$162.95. Agnico Eagle Mines shares last traded at C$162.35, with a volume of 937,602 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. BMO Capital Markets upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Tuesday, April 15th. UBS Group downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 31st. National Bankshares increased their target price on Agnico Eagle Mines from C$160.00 to C$190.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. Royal Bank of Canada upped their price target on shares of Agnico Eagle Mines to C$105.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. One analyst has rated the stock with a hold rating, three have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$139.67.

Agnico Eagle Mines Trading Down 1.7 %

The company has a market cap of C$56.43 billion, a P/E ratio of 56.07, a PEG ratio of 22.97 and a beta of 1.10. The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88. The business has a 50 day moving average price of C$154.39 and a 200-day moving average price of C$134.02.

Agnico Eagle Mines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 16th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 1.00%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 76.24%.

Agnico Eagle Mines Company Profile

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.