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

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$250.15 and traded as high as C$297.88. Agnico Eagle Mines shares last traded at C$284.98, with a volume of 1,022,104 shares trading hands.

Wall Street Analysts Forecast Growth

AEM has been the topic of several research analyst reports. JPMorgan Chase & Co. set a C$337.00 price objective on Agnico Eagle Mines and gave the company a “neutral” rating in a research report on Thursday, January 29th. National Bank Financial lifted their target price on Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. TD Securities raised their target price on shares of Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Erste Group Bank upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. 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. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Buy” and an average price target of C$314.50.

Agnico Eagle Mines Price Performance

The company has a market capitalization of C$142.58 billion, a price-to-earnings ratio of 32.16, a P/E/G ratio of 22.97 and a beta of 1.67. The stock has a fifty day simple moving average of C$291.34 and a 200-day simple moving average of C$250.15. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.02 and a quick ratio of 0.89.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its earnings results on Friday, February 13th. The company reported C$3.71 earnings per share (EPS) for the quarter. The business had revenue of C$4.89 billion for the quarter. Agnico Eagle Mines had a net margin of 37.50% and a return on equity of 19.37%. On average, equities research analysts anticipate that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 16th will be paid a $0.45 dividend. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio is presently 18.06%.

Insider Buying and Selling at Agnico Eagle Mines

In other news, insider Guy Gosselin sold 4,947 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of C$310.00, for a total value of C$1,533,570.00. Following the transaction, the insider directly owned 31,381 shares of the company’s stock, valued at approximately C$9,728,110. This trade represents a 13.62% decrease in their ownership of the stock. Also, insider James Porter sold 3,000 shares of Agnico Eagle Mines stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of C$247.42, for a total value of C$742,260.00. Following the transaction, the insider owned 7,734 shares in the company, valued at approximately C$1,913,546.28. The trade was a 27.95% decrease in their position. 0.08% of the stock is currently owned by corporate insiders.

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.