Agnico Eagle Mines (TSE:AEM) Share Price Crosses Above 200-Day Moving Average After Insider Selling

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) crossed above its 200-day moving average during trading on Wednesday following insider buying activity. 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 trading hands.

Analysts Set New Price Targets

AEM has been the subject of a number of research reports. UBS Group lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 31st. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Royal Bank of Canada raised their target price on shares of Agnico Eagle Mines to C$105.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Cfra Research upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Stifel Nicolaus lifted their price target on Agnico Eagle Mines from C$185.00 to C$195.00 in a research note on Monday, April 28th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$139.67.

Agnico Eagle Mines Stock Performance

The company has a market cap of C$57.40 billion, a P/E ratio of 57.04, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10. The company’s fifty day moving average is C$153.98 and its 200 day moving average is C$133.84. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 16th will be issued a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.99%. Agnico Eagle Mines’s dividend payout ratio is currently 76.24%.

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.