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

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AEM shares. Royal Bank Of Canada cut shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Stifel Nicolaus boosted their price target on shares of Agnico Eagle Mines from C$195.00 to C$300.00 in a research report on Monday, October 20th. Finally, National Bankshares upped their price objective 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 investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$235.00.

Agnico Eagle Mines Stock Performance

The firm’s 50-day moving average price is C$233.25 and its two-hundred day moving average price is C$203.60. 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 stock has a market cap of C$121.59 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 22.97 and a beta of 1.28.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released 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 during the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. On average, analysts expect that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

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

Insiders Place Their Bets

In other Agnico Eagle Mines news, insider Jean Robitaille sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of C$235.00, for a total transaction of C$705,000.00. Following the completion of the sale, 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. 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.