Agnico Eagle Mines Ltd (NYSE:AEM) price on current trading day, rose 2.00% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $83.49.
A look at the stock’s price movement, the level at last check in today’s session was $81.86, moving within a range at $82.8101 and $83.95. The beta value (5-Year monthly) was 1.1 while the PE ratio in trailing twelve months stood at 67.96. Turning to its 52-week performance, $83.50 and $43.22 were the 52-week high and 52-week low respectively. Overall, AEM moved 7.54% over the past month.
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Agnico Eagle Mines Ltd’s market cap currently stands at around $41.60 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Jul-31. The company has a Forward Dividend ratio of 1.60, with its dividend yield at 1.92%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 2.09B for the company’s revenue for the quarter, with a low and high estimate of 1.97B and 2.17B respectively. The average forecast suggests up to a 26.10% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 8.08B, representing a 21.90% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that AEM is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 8 recommend AEM as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
AEM’s current price about 3.86% and 8.89% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 64.75, while 7-day volatility ratio is 2.36% and 2.01% in the 30-day chart. Further, Agnico Eagle Mines Ltd (AEM) has a beta value of 1.10, and an average true range (ATR) of 2.02. Analysts have given the company’s stock an average 52-week price target of $78.5, forecast between a low of $66 and high of $83.55349065. Looking at the price targets, the low is 20.95% off recent price level in today’s trading while to achieve the yearly target high, it has to move -0.08%. Nonetheless, investors will most likely welcome a 5.98% jump to $78.5 which is the analysts’ median price.
If we refocus on Agnico Eagle Mines Ltd (NYSE:AEM), historical trading data shows that trading volumes averaged 2.01 over the past 10 days and 2.07 million over the past 3 months. The company’s latest data on shares outstanding shows there are 498.19 million shares.
The 0.18% of Agnico Eagle Mines Ltd’s shares are in the hands of company insiders while institutional holders own 73.67% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 10.73 million on 2024-08-30, giving us a short ratio of 4.58. The data shows that as of 2024-08-30 short interest in Agnico Eagle Mines Ltd (AEM) stood at 223.0 of shares outstanding, with shares short rising to 7.69 million registered in 2024-07-31. Current price change has pushed the stock 52.22% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the AEM stock continues to rise going into the next quarter.
