Agnico Eagle Mines (TSE:AEM) Stock Price Passes Above 200 Day Moving Average of $61.51

Agnico Eagle Mines Limited (TSE:AEM – Get Rating) (NYSE:AEM) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$61.51 and traded as high as C$75.32. Agnico Eagle Mines shares last traded at C$75.25, with a volume of 1,054,511 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEM. Cormark raised their price objective on shares of Agnico Eagle Mines from C$73.00 to C$77.00 in a research note on Friday, October 28th. Eight Capital decreased their price target on Agnico Eagle Mines from C$86.00 to C$85.00 in a research note on Wednesday, October 26th. National Bankshares raised their price objective on Agnico Eagle Mines from C$75.00 to C$89.00 and gave the company an “outperform” rating in a research note on Friday, January 13th. Citigroup reaffirmed an “outperform” rating and set a C$50.00 price objective on shares of Agnico Eagle Mines in a report on Friday, September 30th. Finally, Canaccord Genuity Group lowered their target price on Agnico Eagle Mines from C$91.00 to C$84.00 in a report on Thursday, October 20th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$77.11.

Agnico Eagle Mines Price Performance

The company has a 50-day moving average of C$70.10 and a 200-day moving average of C$61.51. The stock has a market capitalization of C$34.31 billion and a price-to-earnings ratio of 39.81. The company has a debt-to-equity ratio of 9.12, a quick ratio of 0.89 and a current ratio of 2.17.

Agnico Eagle Mines (TSE:AEM – Get Rating) (NYSE:AEM) last announced its earnings results on Wednesday, October 26th. The company reported C$0.68 earnings per share for the quarter, beating the consensus estimate of C$0.59 by C$0.09. The firm had revenue of C$1.89 billion during the quarter. As a group, equities research analysts expect that Agnico Eagle Mines Limited will post 2.6900001 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 15th were given a dividend of $0.553 per share. The ex-dividend date was Wednesday, November 30th. This represents a $2.21 dividend on an annualized basis and a yield of 2.94%. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is 82.01%.

Insiders Place Their Bets

In related news, Senior Officer David Smith sold 10,000 shares of the company’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of C$74.50, for a total value of C$745,000.00. Following the completion of the transaction, the insider now directly owns 61,501 shares in the company, valued at C$4,581,824.50. In other news, Senior Officer David Smith sold 10,000 shares of the stock in a transaction dated Friday, January 13th. The shares were sold at an average price of C$74.50, for a total transaction of C$745,000.00. Following the transaction, the insider now directly owns 61,501 shares in the company, valued at approximately C$4,581,824.50. Also, Senior Officer Jean Robitaille sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of C$70.25, for a total transaction of C$562,000.00. Following the completion of the sale, the insider now owns 111,986 shares of the company’s stock, valued at C$7,867,016.50. In the last three months, insiders sold 44,580 shares of company stock valued at $3,190,815.

About Agnico Eagle Mines

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Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits.