Agnico Eagle Mines (TSE:AEM) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Agnico Eagle Mines shares recently crossed above their 200-day moving average, trading at C$211.94, indicating a potential bullish trend.
• A number of firms have upgraded Agnico Eagle Mines stock ratings to "strong-buy" or "moderate buy," contributing to a consensus average rating of "Strong Buy."
• The company declared a quarterly dividend of $0.40, with a payout ratio of 27.21%, reflecting ongoing returns to shareholders despite market conditions.

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$165.05 and traded as high as C$216.00. Agnico Eagle Mines shares last traded at C$211.94, with a volume of 1,048,045 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AEM. TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating in a research report on Monday, June 30th. Five investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Agnico Eagle Mines currently has an average rating of "Strong Buy" and an average price target of C$163.33.

Agnico Eagle Mines Trading Up 0.1%

The firm has a market capitalization of C$106.47 billion, a price-to-earnings ratio of 36.04, a P/E/G ratio of 22.97 and a beta of 1.02. The company has a debt-to-equity ratio of 7.88, a current ratio of 1.75 and a quick ratio of 0.89. The firm's 50-day simple moving average is C$181.45 and its 200 day simple moving average is C$165.05.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 15th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. Agnico Eagle Mines's payout ratio is currently 27.21%.

Insider Buying and Selling at Agnico Eagle Mines

In other Agnico Eagle Mines news, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of C$170.54, for a total transaction of C$852,700.00. 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.

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