BMO Capital Markets slashes price target on Agnico Eagle Mines Limited [AEM] – find out why.


Agnico Eagle Mines Limited [NYSE: AEM] surged by $0.85 during the normal trading session on Wednesday and reaching a high of $45.93 during the day while it closed the day at $44.74. The company report on July 5, 2022 that White Gold Corp. Commences Drill Program at the Betty Property, Yukon.

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White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the “Company”) is pleased to announce the commencement of the 2022 drill program at the Betty Ford and Mascot targets on its Betty property. The Betty property is strategically located in the southern part of the Company’s land package, approximately 15 km northeast of Western Copper and Gold Corporation’s (TSX: WRN, NYSE: WRN) Casino porphyry deposit (Measured & Indicated Resources of 14.5 Moz gold & 7.6 Blbs copper and Inferred Resources of 6.6 Moz gold and 3.3 Blb copper(4)) and 40 km east of Newmont Corporation’s (NYSE: NEM, TSX: NGT) Coffee gold deposit (Measured & Indicated Resources of 2.14 Moz gold and Inferred Resources of 0.23 Moz gold(3)). This drill program forms part of the Company’s 2022 fully funded $6 million exploration program on its extensive and underexplored 350,000 hectare land package in the emerging White Gold District, Yukon, supported by strategic partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).

Agnico Eagle Mines Limited stock has also loss -1.08% of its value over the past 7 days. However, AEM stock has declined by -29.90% in the 3 months of the year. Over the past six months meanwhile, it has lost -13.28% and lost -15.81% year-on date.

The market cap for AEM stock reached $20.35 billion, with 455.71 million shares outstanding and 454.14 million shares in the current float. Compared to the average trading volume of 2.65M shares, AEM reached a trading volume of 2881569 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Agnico Eagle Mines Limited [AEM]:

BMO Capital Markets have made an estimate for Agnico Eagle Mines Limited shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 10, 2022. While these analysts kept the previous recommendation, Barclays raised their target price from $67 to $69. The new note on the price target was released on February 03, 2022, representing the official price target for Agnico Eagle Mines Limited stock. On October 06, 2021, analysts decreased their price target for AEM shares from 68 to 63.

The Average True Range (ATR) for Agnico Eagle Mines Limited is set at 2.08, with the Price to Sales ratio for AEM stock in the period of the last 12 months amounting to 4.83. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 2.34. Price to Free Cash Flow for AEM in the course of the last twelve months was 155.22 with Quick ratio for the last quarter at 1.50.

AEM stock trade performance evaluation

Agnico Eagle Mines Limited [AEM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.08. With this latest performance, AEM shares dropped by -17.16% in over the last four-week period, additionally sinking by -13.28% over the last 6 months – not to mention a drop of -27.52% 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 36.36, with the RSI for the last a single of trading hit 35.36, and the three-weeks RSI is set at 37.68 for Agnico Eagle Mines Limited [AEM]. The present Moving Average for the last 50 days of trading for this stock 51.43, while it was recorded at 44.79 for the last single week of trading, and 53.86 for the last 200 days.

Agnico Eagle Mines Limited [AEM]: An insightful look at the core 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 +26.87 and a Gross Margin at +30.60. Agnico Eagle Mines Limited’s Net Margin is presently recorded at +14.20.

Return on Equity for this stock inclined to 9.20, with Return on Assets sitting at 5.42.

Agnico Eagle Mines Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.60.

Earnings per share (EPS) analysis for Agnico Eagle Mines Limited [AEM] stock

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 0.39%.

Agnico Eagle Mines Limited [AEM]: Insider Ownership positions

There are presently around $11,365 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 20,726,131, which is approximately -13.941% of the company’s market cap and around 0.20% of the total institutional ownership; GQG PARTNERS LLC, holding 15,571,763 shares of the stock with an approximate value of $683.45 million in AEM stocks shares; and VANGUARD GROUP INC, currently with $661.3 million in AEM stock with ownership of nearly 4.868% of the company’s market capitalization.

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 306 institutional holders increased their position in Agnico Eagle Mines Limited [NYSE:AEM] by around 42,515,415 shares. Additionally, 257 investors decreased positions by around 40,076,907 shares, while 62 investors held positions by with 176,354,056 shares. The mentioned changes placed institutional holdings at 258,946,378 shares, according to the latest SEC report filing. AEM stock had 94 new institutional investments in for a total of 3,596,749 shares, while 83 institutional investors sold positions of 12,087,581 shares during the same period.