Agnico Eagle Mines (TSE:AEM) Shares Pass Above 200 Day Moving Average of $92.00

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$92.00 and traded as high as C$111.52. Agnico Eagle Mines shares last traded at C$111.24, with a volume of 1,522,727 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AEM. Eight Capital increased their target price on shares of Agnico Eagle Mines from C$105.00 to C$115.00 in a research note on Thursday, July 11th. National Bankshares set a C$104.00 target price on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Monday, June 24th. Cormark increased their target price on shares of Agnico Eagle Mines from C$110.00 to C$115.00 in a research note on Monday, June 24th. Finally, Canaccord Genuity Group increased their target price on shares of Agnico Eagle Mines from C$105.00 to C$118.00 in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$105.14.

Agnico Eagle Mines Price Performance

The stock has a market capitalization of C$55.73 billion, a P/E ratio of 71.31, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10. The business’s 50 day simple moving average is C$104.86 and its two-hundred day simple moving average is C$92.00. The company has a quick ratio of 0.89, a current ratio of 1.51 and a debt-to-equity ratio of 9.94.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$1.46 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.27 by C$0.19. Agnico Eagle Mines had a net margin of 8.49% and a return on equity of 3.10%. The firm had revenue of C$2.84 billion for the quarter, compared to analyst estimates of C$2.36 billion. As a group, sell-side analysts forecast that Agnico Eagle Mines Limited will post 5.3998976 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.547 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 1.97%. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, August 30th. Agnico Eagle Mines’s dividend payout ratio (DPR) is 139.10%.

Insider Buying and Selling at Agnico Eagle Mines

In related news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of C$101.85, for a total transaction of C$2,546,250.00. In related news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of C$101.85, for a total transaction of C$2,546,250.00. Also, Senior Officer Dominique Girard sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$104.33, for a total transaction of C$1,147,630.00. Over the last three months, insiders have sold 79,000 shares of company stock valued at $8,411,677. Corporate insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.