Agnico Eagle Mines (TSE:AEM) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$258.58 and traded as high as C$304.71. Agnico Eagle Mines shares last traded at C$301.17, with a volume of 1,805,927 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AEM. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “sector” rating to an “outperform” rating in a report on Monday, May 4th. Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Stifel Nicolaus decreased their target price on shares of Agnico Eagle Mines from C$350.00 to C$310.00 in a research report on Friday, July 17th. National Bank Financial lowered their target price on shares of Agnico Eagle Mines from C$350.00 to C$275.00 and set an “outperform” rating for the company in a research note on Tuesday, July 14th. Finally, Barclays cut their price target on shares of Agnico Eagle Mines from C$298.00 to C$266.00 in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$295.33.

Agnico Eagle Mines Trading Down 3.6%

The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.89 and a current ratio of 2.86. The company has a 50 day moving average of C$228.76 and a two-hundred day moving average of C$258.81. The stock has a market cap of C$149.66 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 22.97 and a beta of 1.83.

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

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.80 annualized dividend and a dividend yield of 0.6%. Agnico Eagle Mines’s dividend payout ratio is 14.55%.

Insider Activity

In other news, Director John Merfyn Roberts sold 1,000 shares of Agnico Eagle Mines stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of C$244.66, for a total transaction of C$244,660.00. Following the sale, the director owned 17,682 shares of the company’s stock, valued at approximately C$4,326,078.12. The trade was a 5.35% decrease in their position. 0.08% of the stock is owned by corporate insiders.

Agnico Eagle Mines Company Profile

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.