Insider Selling: Agnico Eagle Mines (TSE:AEM) Insider Sells C$742,260.00 in Stock

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) insider James Porter sold 3,000 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the sale, the insider owned 7,734 shares in the company, valued at approximately C$1,913,546.28. This trade represents a 27.95% decrease in their position.

Agnico Eagle Mines Stock Up 0.6%

AEM opened at C$295.52 on Tuesday. The stock has a market cap of C$148.36 billion, a PE ratio of 43.20, a P/E/G ratio of 22.97 and a beta of 1.42. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 7.88. Agnico Eagle Mines Limited has a 52 week low of C$125.87 and a 52 week high of C$305.68. The business’s fifty day simple moving average is C$248.18 and its 200 day simple moving average is C$221.82.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings results on Wednesday, October 29th. The company reported C$3.01 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a return on equity of 5.05% and a net margin of 12.86%.The firm had revenue of C$4.26 billion during the quarter. As a group, research analysts expect that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.60 annualized dividend and a yield of 0.5%. Agnico Eagle Mines’s dividend payout ratio is currently 23.39%.

Wall Street Analyst Weigh In

AEM has been the topic of several research reports. Stifel Nicolaus lifted their price target on shares of Agnico Eagle Mines from C$195.00 to C$300.00 in a research note on Monday, October 20th. National Bankshares lifted their target price on shares of 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. Finally, Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Five investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$235.00.

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. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.