JP Morgan slashes price target on Agnico Eagle Mines Limited [AEM] – find out why.

Agnico Eagle Mines Limited [NYSE: AEM] jumped around 3.05 points on Thursday, while shares priced at $64.77 at the close of the session, up 4.94%. The company report on July 29, 2021 that White Gold Corp. Closes C$4.1 Million Private Placement.

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company” or “White Gold”) is pleased to announce it has closed its previously announced brokered private placement consisting of the sale of units (the “Units”), premium flow-through units (the “FT Units”) and common shares issued as “flow-through shares” (the “FT Shares”, and together with the Units and FT Units, the “Offered Securities”), for aggregate gross proceeds of approximately $4.18 million (the “Offering”).

“We are very grateful for the continued support of our major shareholders and the other participants in this financing. Our 2021 field season is now well underway, focused on highly anticipated new targets, recent discoveries, and our existing mineral resources as we seek to further demonstrate the expansiveness of gold mineralization in the White Gold District, and the effectiveness of our exploration methodologies. Further details to be provided in due course,” stated David D’Onofrio, Chief Executive Officer.

Agnico Eagle Mines Limited stock is now -8.14% down from its year-to-date (YTD) trading value. AEM Stock saw the intraday high of $65.86 and lowest of $63.245 per share. The company’s 52-week high price is 89.23, which means current price is +18.50% above from all time high which was touched on 01/07/21.

Compared to the average trading volume of 1.28M shares, AEM reached a trading volume of 2389677 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Agnico Eagle Mines Limited [AEM]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AEM shares is $82.18 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AEM stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Agnico Eagle Mines Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 10, 2021. The new note on the price target was released on October 19, 2020, representing the official price target for Agnico Eagle Mines Limited stock.

The Average True Range (ATR) for Agnico Eagle Mines Limited is set at 1.65, with the Price to Sales ratio for AEM stock in the period of the last 12 months amounting to 4.66. The Price to Book ratio for the last quarter was 2.77, with the Price to Cash per share for the same quarter was set at 0.54. Price to Free Cash Flow for AEM in the course of the last twelve months was 40.98 with Quick ratio for the last quarter at 0.80.

How has AEM stock performed recently?

Agnico Eagle Mines Limited [AEM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.27. With this latest performance, AEM shares gained by 6.74% in over the last four-week period, additionally sinking by -6.68% over the last 6 months – not to mention a drop of -11.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AEM stock in for the last two-week period is set at 60.19, with the RSI for the last a single of trading hit 70.14, and the three-weeks RSI is set at 54.73 for Agnico Eagle Mines Limited [AEM]. The present Moving Average for the last 50 days of trading for this stock 65.58, while it was recorded at 61.74 for the last single week of trading, and 67.56 for the last 200 days.

Agnico Eagle Mines Limited [AEM]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Agnico Eagle Mines Limited [AEM] shares currently have an operating margin of +26.20 and a Gross Margin at +30.78. Agnico Eagle Mines Limited’s Net Margin is presently recorded at +16.30.

Return on Total Capital for AEM is now 11.48, given the latest momentum, and Return on Invested Capital for the company is 7.35. Return on Equity for this stock inclined to 9.48, with Return on Assets sitting at 5.56. When it comes to the capital structure of this company, Agnico Eagle Mines Limited [AEM] has a Total Debt to Total Equity ratio set at 29.66. Additionally, AEM Total Debt to Total Capital is recorded at 22.87, with Total Debt to Total Assets ending up at 17.53. Long-Term Debt to Equity for the company is recorded at 29.29, with the Long-Term Debt to Total Capital now at 22.59.

Reflecting on the efficiency of the workforce at the company, Agnico Eagle Mines Limited [AEM] managed to generate an average of $44,795 per employee. Receivables Turnover for the company is 36.36 with a Total Asset Turnover recorded at a value of 0.34.Agnico Eagle Mines Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 2.30.

Earnings analysis for Agnico Eagle Mines Limited [AEM]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AEM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Agnico Eagle Mines Limited go to 38.68%.

Insider trade positions for Agnico Eagle Mines Limited [AEM]

There are presently around $9,373 million, or 78.10% of AEM stock, in the hands of institutional investors. The top three institutional holders of AEM stocks are: VAN ECK ASSOCIATES CORP with ownership of 12,601,010, which is approximately -7.079% of the company’s market cap and around 0.20% of the total institutional ownership; MASSACHUSETTS FINANCIAL SERVICES CO /MA/, holding 11,789,784 shares of the stock with an approximate value of $763.62 million in AEM stocks shares; and ROYAL BANK OF CANADA, currently with $491.86 million in AEM stock with ownership of nearly -5.855% of the company’s market capitalization.

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Positions in Agnico Eagle Mines Limited stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 191 institutional holders increased their position in Agnico Eagle Mines Limited [NYSE:AEM] by around 8,705,249 shares. Additionally, 180 investors decreased positions by around 13,741,386 shares, while 60 investors held positions by with 122,258,538 shares. The mentioned changes placed institutional holdings at 144,705,173 shares, according to the latest SEC report filing. AEM stock had 46 new institutional investments in for a total of 1,255,625 shares, while 58 institutional investors sold positions of 2,298,067 shares during the same period.

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