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

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$207.58 and traded as high as C$240.64. Agnico Eagle Mines shares last traded at C$234.67, with a volume of 1,446,993 shares changing hands.

Analyst Upgrades and Downgrades

AEM has been the subject of a number of research reports. Royal Bank Of Canada cut shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Stifel Nicolaus boosted their target price on 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 company an “outperform” rating in a research report on Tuesday, December 9th. Five research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$235.00.

Agnico Eagle Mines Trading Down 5.3%

The business’s 50 day simple moving average is C$233.18 and its 200 day simple moving average is C$207.58. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.75 and a quick ratio of 0.89. The company has a market capitalization of C$118.15 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 22.97 and a beta of 1.28.

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

Agnico Eagle Mines Announces Dividend

The business 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. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, December 1st. Agnico Eagle Mines’s dividend payout ratio (DPR) is 23.39%.

Insider Activity

In other news, insider Ammar Al-Joundi sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of C$243.40, for a total transaction of C$4,868,000.00. Following the completion of the sale, the insider owned 54,917 shares in the company, valued at C$13,366,797.80. This represents a 26.70% decrease in their ownership of the stock. Insiders own 0.08% of the company’s stock.

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.