Agnico Eagle Mines (TSE:AEM) Stock Crosses Above 200-Day Moving Average – What’s Next?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$168.06 and traded as high as C$213.21. Agnico Eagle Mines shares last traded at C$213.01, with a volume of 843,558 shares traded.

Analyst Ratings Changes

A number of brokerages have weighed in on AEM. TD Securities upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Thursday, July 17th. Raymond James Financial upgraded shares of Agnico Eagle Mines to a “moderate buy” rating in a research note on Monday, June 30th. Five investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy” and a consensus target price of C$163.33.

Agnico Eagle Mines Price Performance

The firm’s fifty day simple moving average is C$187.36 and its 200 day simple moving average is C$168.06. 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 cap of C$107.00 billion, a P/E ratio of 36.23, a P/E/G ratio of 22.97 and a beta of 1.02.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 15th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, September 2nd. Agnico Eagle Mines’s dividend payout ratio is currently 27.21%.

Insider Buying and Selling

In other news, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of C$170.54, for a total transaction of C$852,700.00. 0.08% of the stock is owned by corporate insiders.

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.