Agnico Eagle Mines (TSE:AEM) Shares Pass Above 200 Day Moving Average – What’s Next?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$126.72 and traded as high as C$151.00. Agnico Eagle Mines shares last traded at C$149.29, with a volume of 1,681,437 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AEM shares. UBS Group cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 31st. Royal Bank of Canada lifted their price target on Agnico Eagle Mines to C$105.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. National Bankshares increased their price target on Agnico Eagle Mines from C$160.00 to C$190.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. Finally, National Bank Financial raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Buy” and an average target price of C$128.71.

Agnico Eagle Mines Stock Performance

The company has a market cap of C$52.79 billion, a PE ratio of 52.45, a P/E/G 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 firm’s 50-day simple moving average is C$144.28 and its two-hundred day simple moving average is C$126.72.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.07%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 76.24%.

Insider Buying and Selling

In other news, Senior Officer Ammar Al-Joundi sold 20,000 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of C$118.94, for a total transaction of C$2,378,852.00. Also, Director John Merfyn Roberts sold 2,000 shares of the stock in a transaction that occurred 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. Insiders sold a total of 48,625 shares of company stock valued at $6,574,617 over the last 90 days. 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.