Insider Selling: Agnico Eagle Mines (TSE:AEM) Insider Sells 20,000 Shares of Stock

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) insider Ammar Al-Joundi sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of C$243.40, for a total value of C$4,868,000.00. Following the completion of the sale, the insider owned 54,917 shares in the company, valued at approximately C$13,366,797.80. This represents a 26.70% decrease in their position.

Agnico Eagle Mines Stock Performance

Shares of TSE:AEM traded up C$9.01 during trading on Friday, hitting C$241.50. 3,368,780 shares of the stock traded hands, compared to its average volume of 1,031,193. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 7.88. The company has a fifty day moving average price of C$233.25 and a two-hundred day moving average price of C$203.60. Agnico Eagle Mines Limited has a 52-week low of C$110.89 and a 52-week high of C$263.23. The company has a market cap of C$121.59 billion, a price-to-earnings ratio of 35.31, a P/E/G ratio of 22.97 and a beta of 1.28.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings results on Wednesday, October 29th. The company reported C$2.16 EPS for the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. The company had revenue of C$4.26 billion for the quarter. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Agnico Eagle Mines’s dividend payout ratio is currently 23.39%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. National Bankshares upped their target price on Agnico Eagle Mines from C$285.00 to C$300.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Stifel Nicolaus boosted their price target on shares of Agnico Eagle Mines from C$195.00 to C$300.00 in a report on Monday, October 20th. Finally, Royal Bank Of Canada cut shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Five equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$235.00.

About Agnico Eagle Mines

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.