Agnico Eagle Mines (TSE:AEM) Stock Breaks Above Two Hundred Day Moving Average – Time to Sell?

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$253.45 and traded as high as C$270.62. Agnico Eagle Mines shares last traded at C$264.04, with a volume of 652,568 shares traded.

Analysts Set New Price Targets

A number of brokerages have issued reports on AEM. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Barclays dropped their target price on Agnico Eagle Mines from C$298.00 to C$266.00 in a research report on Thursday, July 16th. Stifel Nicolaus cut their price target on Agnico Eagle Mines from C$350.00 to C$310.00 in a research note on Friday, July 17th. Finally, National Bank Financial reduced their price target on Agnico Eagle Mines from C$350.00 to C$275.00 and set an “outperform” rating on the stock in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus price target of C$295.33.

Agnico Eagle Mines Price Performance

The stock has a market cap of C$134.78 billion, a P/E ratio of 22.79, a P/E/G ratio of 22.97 and a beta of 2.00. The company’s 50 day moving average price is C$272.15 and its 200-day moving average price is C$253.40. The company has a quick ratio of 0.89, a current ratio of 2.86 and a debt-to-equity ratio of 1.12.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$4.33 earnings per share for the quarter. Agnico Eagle Mines had a net margin of 40.45% and a return on equity of 22.69%. The company had revenue of C$5.53 billion for the quarter. As a group, sell-side analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 1st. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 14.55%.

Insider Buying and Selling

In other Agnico Eagle Mines news, Director John Merfyn Roberts sold 1,500 shares of Agnico Eagle Mines stock in a transaction dated 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 transaction, the director directly owned 16,182 shares of the company’s stock, valued at approximately C$4,423,349.70. The trade was a 8.48% decrease in their position. Insiders own 0.08% of the company’s stock.

Agnico Eagle Mines Company Profile

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.