Agnico Eagle Mines (TSE:AEM) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Agnico Eagle Mines shares rose above their 200-day moving average, reaching C$264.68 before closing at C$261.04, compared with the 200-day average of C$254.22.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of C$295.33, despite several brokerages recently lowering their targets.
• The company reported C$4.33 in quarterly EPS on C$5.53 billion in revenue and pays a quarterly dividend of C$0.45, equal to an annualized yield of approximately 0.7%.

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$254.22 and traded as high as C$264.68. Agnico Eagle Mines shares last traded at C$261.04, with a volume of 1,382,173 shares traded.

Analyst Ratings Changes

A number of brokerages recently weighed in on AEM. Jefferies Financial Group raised shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. Barclays cut their price objective on Agnico Eagle Mines from C$298.00 to C$266.00 in a research note on Thursday, July 16th. Stifel Nicolaus reduced their target price on Agnico Eagle Mines from C$350.00 to C$310.00 in a report on Friday, July 17th. Finally, National Bank Financial decreased their target price on Agnico Eagle Mines from C$350.00 to C$275.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of "Moderate Buy" and a consensus price target of C$295.33.

Agnico Eagle Mines Price Performance

The stock's fifty day moving average price is C$259.07 and its 200-day moving average price is C$254.22. The firm has a market cap of C$130.78 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 22.97 and a beta of 2.02. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.86 and a quick ratio of 0.89.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$4.33 earnings per share for the quarter. The firm had revenue of C$5.53 billion for the quarter. Agnico Eagle Mines had a net margin of 40.45% and a return on equity of 22.69%. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 1st. Agnico Eagle Mines's dividend payout ratio (DPR) is 14.55%.

Insiders Place Their Bets

In other news, Director John Merfyn Roberts sold 1,500 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of C$273.35, for a total value of C$410,025.00. Following the completion of the sale, the director directly owned 16,182 shares in the company, valued at C$4,423,349.70. This represents a 8.48% decrease in their ownership of the stock. 0.08% of the stock is owned by company insiders.

About Agnico Eagle Mines

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

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