Agnico Eagle Mines (AEM) stock plummeted 5.04% during the intraday session on Thursday. The sharp decline was part of a broader sell-off in the gold mining sector.

The movement was driven by weaker gold prices following unexpectedly strong U.S. jobs data for January. The robust labor market figures reduced expectations for near-term interest rate cuts by the Federal Reserve, which in turn pressured the price of gold. Gold miners, whose performance is closely tied to the underlying commodity, traded lower as a result.