Agnico Eagle Mines (TSE:AEM) Stock Price Passes Above 200 Day Moving Average - Should You 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's stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Analysts Set New Price Targets

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

Agnico Eagle Mines Trading Down 1.1%

The company has a market capitalization of C$105.27 billion, a P/E ratio of 35.64, a P/E/G ratio of 22.97 and a beta of 1.02. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 7.88. The firm's 50-day moving average price is C$185.33 and its 200 day moving average price is C$167.25.

Agnico Eagle Mines Dividend Announcement

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

Insider Buying and Selling at Agnico Eagle Mines

In related news, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of Agnico Eagle Mines stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of C$170.54, for a total transaction of C$852,700.00. 0.08% of the stock is 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.