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

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM's stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$106.67 and traded as high as C$113.44. Agnico Eagle Mines shares last traded at C$113.33, with a volume of 434,414 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group raised Agnico Eagle Mines to a "strong-buy" rating in a report on Tuesday, September 17th. Stifel Nicolaus raised their target price on shares of Agnico Eagle Mines from C$114.00 to C$140.00 in a research note on Monday, October 21st. Finally, National Bankshares lifted their target price on shares of Agnico Eagle Mines from C$143.00 to C$144.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of C$116.00.

Agnico Eagle Mines Stock Performance

The company has a current ratio of 1.51, a quick ratio of 0.89 and a debt-to-equity ratio of 9.94. The company has a market cap of C$56.62 billion, a P/E ratio of 70.63, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10. The company's fifty day moving average is C$116.71 and its 200 day moving average is C$106.85.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last released its quarterly earnings data on Wednesday, October 30th. The company reported C$1.56 EPS for the quarter, topping the consensus estimate of C$1.35 by C$0.21. The firm had revenue of C$2.94 billion for the quarter, compared to the consensus estimate of C$2.50 billion. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 1.42%. Agnico Eagle Mines's payout ratio is currently 135.63%.

Insiders Place Their Bets

In other Agnico Eagle Mines news, Senior Officer Ammar Al-Joundi sold 19,900 shares of the company's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$109.25, for a total value of C$2,174,075.00. Also, Senior Officer Jean Robitaille sold 10,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of C$122.00, for a total transaction of C$1,220,000.00. Insiders have sold a total of 59,972 shares of company stock valued at $6,808,814 in the last quarter. Insiders own 0.08% of the company's stock.

Agnico Eagle Mines Company Profile

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.