Agnico Eagle Mines (TSE:AEM) Stock Breaks Above 200-Day Moving Average – Should You Sell?

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) passed 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.

Analysts Set New Price Targets

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

Agnico Eagle Mines Price Performance

The firm has a 50 day moving average price of C$266.02 and a 200 day moving average price of C$262.32. The stock has a market capitalization of C$133.89 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 22.97 and a beta of 2.11. The company has a current ratio of 2.75, a quick ratio of 0.89 and a debt-to-equity ratio of 1.11.

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

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 1st. Agnico Eagle Mines’s payout ratio is presently 14.26%.

Insider Buying and Selling at Agnico Eagle Mines

In related news, Director John Merfyn Roberts sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of C$273.35, for a total transaction of C$410,025.00. Following the completion of the transaction, the director directly owned 16,182 shares in the company, valued at approximately C$4,423,349.70. The trade was a 8.48% decrease in their position. 0.08% of the stock is currently owned by insiders.

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.