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

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$199.80 and traded as high as C$234.23. Agnico Eagle Mines shares last traded at C$228.33, with a volume of 1,163,066 shares trading hands.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus increased their price objective on Agnico Eagle Mines from C$195.00 to C$300.00 in a research note on Monday, October 20th. Five investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and a consensus target price of C$198.33.

Agnico Eagle Mines Trading Down 2.2%

The firm has a market capitalization of C$114.63 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 22.97 and a beta of 1.28. The company has a fifty day moving average price of C$233.60 and a 200-day moving average price of C$199.80. The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88.

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

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 15th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, December 1st. Agnico Eagle Mines’s payout ratio is presently 23.39%.

Insider Transactions at Agnico Eagle Mines

In other Agnico Eagle Mines news, insider Jean Robitaille sold 3,000 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of C$235.00, for a total transaction of C$705,000.00. Following the transaction, the insider directly owned 1,000 shares of the company’s stock, valued at C$235,000. This represents a 75.00% decrease in their ownership of the stock. Corporate insiders own 0.08% of the company’s stock.

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.