Agnico Eagle Mines (TSE:AEM) Shares Cross Above 200 Day Moving Average – Should You Sell?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$105.88 and traded as high as C$120.52. Agnico Eagle Mines shares last traded at C$119.22, with a volume of 911,657 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Tuesday, September 17th. Stifel Nicolaus increased their target price on Agnico Eagle Mines from C$114.00 to C$140.00 in a report on Monday, October 21st. Finally, National Bankshares boosted their price target on Agnico Eagle Mines from C$143.00 to C$144.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$116.00.

Agnico Eagle Mines Price Performance

The company has a debt-to-equity ratio of 9.94, a current ratio of 1.51 and a quick ratio of 0.89. The company has a fifty day moving average price of C$115.92 and a 200 day moving average price of C$105.88. The company has a market capitalization of C$59.73 billion, a P/E ratio of 74.51, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported C$1.56 EPS for the quarter, topping analysts’ consensus estimates of C$1.35 by C$0.21. The firm had revenue of C$2.94 billion during the quarter, compared to the consensus estimate of C$2.50 billion. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current fiscal year.

Agnico Eagle Mines Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. Agnico Eagle Mines’s dividend payout ratio is presently 135.63%.

Insider Buying and Selling

In related news, Director John Merfyn Roberts sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of C$112.32, for a total value of C$224,640.00. Also, Senior Officer Jean Robitaille sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of C$122.00, for a total transaction of C$1,220,000.00. Insiders sold 76,972 shares of company stock valued at $8,734,754 in the last three months. 0.08% of the stock is currently owned by corporate 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.