Agnico Eagle Mines (TSE:AEM) Stock Crosses Above 200 Day Moving Average – What’s Next?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s share price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$254.22 and traded as high as C$264.68. Agnico Eagle Mines shares last traded at C$261.04, with a volume of 1,382,173 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stifel Nicolaus decreased their price target on Agnico Eagle Mines from C$350.00 to C$310.00 in a research note on Friday, July 17th. Barclays cut their price objective on Agnico Eagle Mines from C$298.00 to C$266.00 in a research note on Thursday, July 16th. National Bank Financial reduced their target price on Agnico Eagle Mines from C$350.00 to C$275.00 and set an “outperform” rating on the stock in a report on Tuesday, July 14th. Finally, Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$295.33.

Agnico Eagle Mines Stock Performance

The stock’s 50-day moving average price is C$260.35 and its 200-day moving average price is C$253.95. The company has a current ratio of 2.86, a quick ratio of 0.89 and a debt-to-equity ratio of 1.12. The company has a market capitalization of C$131.13 billion, a P/E ratio of 22.41, a P/E/G ratio of 22.97 and a beta of 2.02.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$4.33 earnings per share for the quarter. Agnico Eagle Mines had a net margin of 40.45% and a return on equity of 22.69%. The firm had revenue of C$5.53 billion for the quarter. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 1st. Agnico Eagle Mines’s dividend payout ratio is presently 14.55%.

Insider Activity

In related news, Director John Merfyn Roberts sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of C$273.35, for a total transaction of C$410,025.00. Following the completion of the transaction, the director owned 16,182 shares in the company, valued at C$4,423,349.70. The trade was a 8.48% decrease in their position. Company insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

Canadian-based and led, Agnico Eagle is Canada’s largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.