Agnico Eagle Mines (TSE:AEM) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Agnico Eagle Mines' stock (TSE:AEM) recently traded above its 200-day moving average, reaching highs of C$187.56, signaling potential bullish momentum in the market.
• Multiple analysts have upgraded the stock to a "strong buy" rating, with Stifel Nicolaus increasing its price target from C$185.00 to C$195.00.
• The company announced a quarterly dividend of $0.40, reflecting an annualized yield of 0.9% and a payout ratio of 76.24%.

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$156.59 and traded as high as C$187.56. Agnico Eagle Mines shares last traded at C$186.80, with a volume of 590,285 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AEM shares. Stifel Nicolaus raised their price objective on shares of Agnico Eagle Mines from C$185.00 to C$195.00 in a research note on Monday, April 28th. Cfra Research raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating in a report on Monday, June 30th. Finally, BMO Capital Markets upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Strong Buy" and an average target price of C$163.33.

Agnico Eagle Mines Stock Performance

The stock has a market cap of C$66.05 billion, a P/E ratio of 65.63, a PEG ratio of 22.97 and a beta of 1.10. The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88. The company's 50-day simple moving average is C$168.29 and its 200 day simple moving average is C$156.59.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 76.24%.

Insider Activity

In related news, Senior Officer Ammar Al-Joundi sold 20,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of C$169.00, for a total transaction of C$3,379,960.00. Also, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of C$170.54, for a total transaction of C$852,700.00. Insiders sold a total of 36,904 shares of company stock valued at $6,262,292 in the last ninety days. 0.08% of the stock is currently owned by 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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