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

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$250.15 and traded as high as C$297.88. Agnico Eagle Mines shares last traded at C$284.98, with a volume of 1,022,104 shares trading hands.

Analyst Ratings Changes

Several brokerages recently weighed in on AEM. JPMorgan Chase & Co. set a C$337.00 price target on Agnico Eagle Mines and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Erste Group Bank raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. TD Securities boosted their target price on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. National Bank Financial upped their target price on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Finally, Stifel Nicolaus increased their price target on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$314.50.

Agnico Eagle Mines Price Performance

The company has a current ratio of 2.02, a quick ratio of 0.89 and a debt-to-equity ratio of 1.68. The company has a market cap of C$142.58 billion, a PE ratio of 32.16, a P/E/G ratio of 22.97 and a beta of 1.67. The firm has a 50 day moving average of C$291.34 and a two-hundred day moving average of C$250.55.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings data on Friday, February 13th. The company reported C$3.71 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a return on equity of 19.37% and a net margin of 37.50%.The business had revenue of C$4.89 billion during the quarter. Research analysts predict that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 16th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.80 annualized dividend and a dividend yield of 0.6%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is presently 18.06%.

Insider Transactions at Agnico Eagle Mines

In related news, insider Guy Gosselin sold 4,947 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of C$310.00, for a total transaction of C$1,533,570.00. Following the sale, the insider directly owned 31,381 shares of the company’s stock, valued at approximately C$9,728,110. This represents a 13.62% decrease in their position. Also, insider James Porter sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the sale, the insider owned 7,734 shares of the company’s stock, valued at approximately C$1,913,546.28. This represents a 27.95% decrease in their ownership of the stock. Insiders own 0.08% of the company’s stock.

Agnico Eagle Mines Company Profile

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.