Agnico Eagle Mines (TSE:AEM) Insider Sells C$4,868,000.00 in Stock

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) insider Ammar Al-Joundi sold 20,000 shares of the 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 value of C$4,868,000.00. Following the completion of the transaction, the insider directly owned 54,917 shares in the company, valued at approximately C$13,366,797.80. This trade represents a 26.70% decrease in their position.

Agnico Eagle Mines Stock Up 3.9%

Shares of Agnico Eagle Mines stock traded up C$9.01 during trading on Friday, hitting C$241.50. 3,368,780 shares of the stock traded hands, compared to its average volume of 1,031,193. 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’s fifty day simple moving average is C$233.25 and its 200 day simple moving average is C$203.60. The firm has a market cap of C$121.59 billion, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 22.97 and a beta of 1.28. Agnico Eagle Mines Limited has a 52-week low of C$110.89 and a 52-week high of C$263.23.

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

Agnico Eagle Mines Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on AEM. Royal Bank Of Canada downgraded Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 10th. Stifel Nicolaus lifted their target price on shares of Agnico Eagle Mines from C$195.00 to C$300.00 in a research note on Monday, October 20th. Finally, National Bankshares upped their price target on shares of Agnico Eagle Mines from C$285.00 to C$300.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Five research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$235.00.

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.