Agnico Eagle Mines Ltd (NYSE:AEM) shares, rose in value, with the stock price down by -1.83% to the previous day’s close as strong demand from buyers drove the stock to $60.59.
Actively observing the price movement in the last trading, the stock closed the session at $61.72. The value of beta (5-year monthly) was 1.03 whereas the PE ratio was 14.76 over 12-month period. Referring to stock’s 52-week performance, its high was $61.89, and the low was $43.22. On the whole, AEM has fluctuated by 14.82% over the past month.
With the market capitalization of Agnico Eagle Mines Ltd currently standing at about $30.23 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 25, 2024. The company’s Forward Dividend Ratio is 1.60, with its dividend yield at 2.64%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.54, which is expected to increase to $0.73 for fiscal year $2.36 and then to about $2.48 by fiscal year 2025. Data indicates that the EPS growth is expected to be 5.80% in 2025, while the next year’s EPS growth is forecast to be 5.10%.
Analysts have estimated the company’s revenue for the quarter at $1.69 billion, with a low estimate of $1.66 billion and a high estimate of $1.72 billion. According to the average forecast, sales growth in current quarter could jump up 11.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $7.09 billion, representing an increase of 7.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that AEM’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of AEM currently trading nearly 7.03% and 16.99% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 69.73, while the 7-day volatility ratio is showing 2.30% which for the 30-day chart, stands at 2.18%. Furthermore, Agnico Eagle Mines Ltd (AEM)’s beta value is 1.07, and its average true range (ATR) is 1.39.
A comparison of Agnico Eagle Mines Ltd (AEM) with its peers suggests the former has fared considerably weaker in the market. AEM showed an intraday change of -1.83% in last session, and over the past year, it grew by 15.34%%.
Data on historical trading for Agnico Eagle Mines Ltd (NYSE:AEM) indicates that the trading volumes over the past 10 days have averaged 3.3 million and over the past 3 months, they’ve averaged 3.20 million. According to company’s latest data on outstanding shares, there are 498.94 million shares outstanding.
Nearly 0.24% of Agnico Eagle Mines Ltd’s shares belong to company insiders and institutional investors own 67.69% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.27 million shares as on Mar 15, 2024, resulting in a short ratio of 1.91. According to the data, the short interest in Agnico Eagle Mines Ltd (AEM) stood at 1.46% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 10.55 million. The stock has risen by 10.46% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AEM stock heading into the next quarter.
