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

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM's share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$135.63 and traded as high as C$148.87. Agnico Eagle Mines shares last traded at C$148.81, with a volume of 973,625 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. National Bank Financial upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, March 21st. Stifel Canada upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. Royal Bank of Canada raised their price objective on Agnico Eagle Mines to C$105.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. National Bankshares raised their price objective on Agnico Eagle Mines from C$160.00 to C$190.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 19th. Finally, UBS Group cut Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 31st. One analyst has rated the stock with a hold rating, three have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of "Buy" and an average target price of C$139.67.

Agnico Eagle Mines Price Performance

The company has a 50 day moving average of C$156.36 and a two-hundred day moving average of C$136.78. The firm has a market cap of C$57.10 billion, a P/E ratio of 56.73, a PEG ratio of 22.97 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 7.88.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 16th will be given a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.99%. Agnico Eagle Mines's dividend payout ratio (DPR) is 76.24%.

Insider Activity at Agnico Eagle Mines

In other Agnico Eagle Mines news, Senior Officer Dominique Girard sold 10,000 shares of Agnico Eagle Mines stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of C$148.32, for a total value of C$1,483,200.00. Also, Senior Officer Guy Gosselin sold 3,527 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of C$157.50, for a total value of C$555,502.50. Insiders sold 29,728 shares of company stock worth $4,566,968 in the last quarter. 0.08% of the stock is 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.