Agnico Eagle Mines (TSE:AEM) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$203.11 and traded as high as C$235.46. Agnico Eagle Mines shares last traded at C$232.49, with a volume of 1,187,461 shares.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AEM. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Stifel Nicolaus lifted their price objective on shares of Agnico Eagle Mines from C$195.00 to C$300.00 in a report on Monday, October 20th. Finally, National Bankshares upped their target price on Agnico Eagle Mines from C$285.00 to C$300.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Five equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$235.00.

Agnico Eagle Mines Stock Performance

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 stock has a market cap of C$117.06 billion, a PE ratio of 33.99, a P/E/G ratio of 22.97 and a beta of 1.28. The business’s 50-day moving average price is C$233.03 and its 200-day moving average price is C$203.11.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its quarterly earnings data on Wednesday, October 29th. The company reported C$2.16 earnings per share (EPS) for the quarter. The firm had revenue of C$4.26 billion for the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. As a group, equities research analysts expect that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. Agnico Eagle Mines’s payout ratio is 23.39%.

Insider Transactions at Agnico Eagle Mines

In related news, insider Jean Robitaille sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of C$235.00, for a total transaction of C$705,000.00. Following the completion of the transaction, the insider owned 1,000 shares of the company’s stock, valued at C$235,000. This trade represents a 75.00% decrease in their ownership of the stock. 0.08% of the stock is owned by company 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.