Agnico Eagle Mines (TSE:AEM) Shares Break Above 200 Day Moving Average - Here's Why

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$262.32 and traded as high as C$266.99. Agnico Eagle Mines shares last traded at C$264.85, with a volume of 1,492,770 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently commented on AEM. Freedom Broker raised Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research note on Monday. TD cut their price target on shares of Agnico Eagle Mines from C$244.00 to C$242.00 and set a "buy" rating on the stock in a report on Tuesday, October 20th. Barclays reduced their price objective on shares of Agnico Eagle Mines from C$298.00 to C$266.00 in a research report on Thursday, July 16th. National Bank Financial decreased their price objective on shares of Agnico Eagle Mines from C$310.00 to C$305.00 and set an "outperform" rating for the company in a report on Friday, October 30th. Finally, Stifel Nicolaus decreased their price objective on shares of Agnico Eagle Mines from C$350.00 to C$310.00 in a report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines presently has an average rating of "Buy" and an average target price of C$292.00.

Agnico Eagle Mines Stock Performance

The company has a market capitalization of C$133.89 billion, a PE ratio of 21.59, a PEG ratio of 22.97 and a beta of 2.11. The business's 50-day moving average is C$266.02 and its 200-day moving average is C$262.32. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.89 and a current ratio of 2.75.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last posted its quarterly earnings data on Wednesday, October 28th. The company reported C$3.72 EPS for the quarter. The business had revenue of C$5.10 billion for the quarter. Agnico Eagle Mines had a net margin of 41.00% and a return on equity of 22.64%. On average, research analysts anticipate that Agnico Eagle Mines Limited will post 5.50 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were paid a $0.45 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $1.80 dividend on an annualized basis and a yield of 0.7%. Agnico Eagle Mines's payout ratio is presently 14.26%.

Insider Transactions at Agnico Eagle Mines

In other Agnico Eagle Mines news, Director John Merfyn Roberts sold 1,500 shares of Agnico Eagle Mines stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of C$273.35, for a total value of C$410,025.00. Following the completion of the sale, the director owned 16,182 shares of the company's stock, valued at approximately C$4,423,349.70. This trade represents 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.

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