Agnico Eagle Mines (TSE:AEM) Shares Pass Above 200 Day Moving Average – Time to Sell?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$144.79 and traded as high as C$168.07. Agnico Eagle Mines shares last traded at C$167.90, with a volume of 2,454,087 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 31st. Stifel Nicolaus upped their target price on shares of Agnico Eagle Mines from C$185.00 to C$195.00 in a research report on Monday, April 28th. Royal Bank Of Canada raised their target price on shares of Agnico Eagle Mines to C$105.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. BMO Capital Markets upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Tuesday, April 15th. Finally, National Bankshares increased their price objective on shares of Agnico Eagle Mines from C$160.00 to C$190.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. One analyst has rated the stock with a hold rating, two have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$144.60.

Agnico Eagle Mines Trading Up 2.2%

The company’s 50 day simple moving average is C$162.07 and its two-hundred day simple moving average is C$144.79. 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 market capitalization of C$59.37 billion, a price-to-earnings ratio of 58.99, a P/E/G ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 16th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 76.24%.

Insiders Place Their Bets

In other Agnico Eagle Mines news, Director Sean Boyd sold 5,200 shares of Agnico Eagle Mines stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of C$161.51, for a total transaction of C$839,852.00. Also, Senior Officer Ammar Al-Joundi sold 20,000 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of C$169.00, for a total value of C$3,379,960.00. Over the last 90 days, insiders sold 45,632 shares of company stock valued at $7,657,810. 0.08% of the stock is currently owned by corporate insiders.

Agnico Eagle Mines Company Profile

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.