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 share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$106.67 and traded as high as C$113.44. Agnico Eagle Mines shares last traded at C$113.33, with a volume of 434,414 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on AEM. National Bankshares boosted their price objective on shares of Agnico Eagle Mines from C$143.00 to C$144.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Stifel Nicolaus boosted their price target on shares of Agnico Eagle Mines from C$114.00 to C$140.00 in a research report on Monday, October 21st. Finally, UBS Group raised Agnico Eagle Mines to a “strong-buy” rating in a report on Tuesday, September 17th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$116.00.

Agnico Eagle Mines Price Performance

The company has a debt-to-equity ratio of 9.94, a quick ratio of 0.89 and a current ratio of 1.51. The company has a market capitalization of C$56.78 billion, a PE ratio of 70.83, a P/E/G ratio of 22.97 and a beta of 1.10. The company’s 50-day simple moving average is C$116.64 and its 200-day simple moving average is C$106.72.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported C$1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.35 by C$0.21. Agnico Eagle Mines had a net margin of 8.49% and a return on equity of 3.10%. The company had revenue of C$2.94 billion for the quarter, compared to analysts’ expectations of C$2.50 billion. As a group, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 5.4966052 earnings per share for the current year.

Agnico Eagle Mines Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 1.41%. Agnico Eagle Mines’s payout ratio is currently 135.63%.

Insider Transactions at Agnico Eagle Mines

In other Agnico Eagle Mines news, Senior Officer Ammar Al-Joundi sold 19,900 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$109.25, for a total transaction of C$2,174,075.00. Also, Senior Officer Jean Robitaille sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of C$122.00, for a total value of C$1,220,000.00. Insiders have sold a total of 59,972 shares of company stock valued at $6,808,814 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.