Agnico Eagle Mines Limited [AEM] is -24.37% lower this YTD. Is it still time to buy?

Agnico Eagle Mines Limited [NYSE: AEM] loss -2.48% or -1.02 points to close at $40.19 with a heavy trading volume of 3450277 shares. The company report on August 12, 2022 that AGNICO EAGLE PROVIDES AN UPDATE ON YEAR-TO-DATE EXPLORATION RESULTS: DETOUR LAKE RETURNING HIGH GRADE INTERCEPTS UP TO 2 KM AWAY FROM CURRENT OPEN PIT; EAST GOULDIE DELIVERING SOLID INFILL CONVERSION RESULTS AND STEP-OUT DRILLING TO THE EAST AND WEST; HOPE BAY RETURNING WIDE HIGH GRADE INTERSECTIONS BELOW THE DORIS DEPOSIT; EXPLORATION OF AMALGAMATED KIRKLAND DEPOSIT IN KIRKLAND LAKE ADVANCING FROM SURFACE AND UNDERGROUND.


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(All amounts expressed in U.S. dollars unless otherwise noted).

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico Eagle” or the “Company”) is pleased to provide an update on exploration activities at several projects and select mine sites. The Company’s exploration focus remains on pipeline projects, near-mine opportunities and mineral reserve and mineral resource replacement and growth. Exploration highlights during the first half of 2022 include:.

It opened the trading session at $40.41, the shares rose to $40.93 and dropped to $40.02, the range by which the price of stock traded the whole day. The daily chart for AEM points out that the company has recorded -23.87% loss over the past six months. However, it is still -5.71% lower than its most recent low trading price.

If we look at the average trading volume of 3.04M shares, AEM reached to a volume of 3450277 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 1.53, with the Price to Sales ratio for AEM stock in the period of the last 12 months amounting to 3.97. The Price to Book ratio for the last quarter was 1.12, with the Price to Cash per share for the same quarter was set at 2.13. Price to Free Cash Flow for AEM in the course of the last twelve months was 401.48 with Quick ratio for the last quarter at 1.50.

Trading performance analysis for AEM stock

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 -11.79. With this latest performance, AEM shares dropped by -5.68% in over the last four-week period, additionally sinking by -23.87% over the last 6 months – not to mention a drop of -29.50% 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 34.06, with the RSI for the last a single of trading hit 26.86, and the three-weeks RSI is set at 37.48 for Agnico Eagle Mines Limited [AEM]. The present Moving Average for the last 50 days of trading for this stock 44.08, while it was recorded at 42.17 for the last single week of trading, and 51.78 for the last 200 days.

Agnico Eagle Mines Limited [AEM]: A deeper dive into fundamental analysis

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.

Agnico Eagle Mines Limited [AEM]: An earnings per share (EPS) analysis

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 0.51%.

An analysis of insider ownership at Agnico Eagle Mines Limited [AEM]

There are presently around $10,764 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 20,098,838, which is approximately -3.027% of the company’s market cap and around 0.20% of the total institutional ownership; GQG PARTNERS LLC, holding 17,466,650 shares of the stock with an approximate value of $701.99 million in AEM stocks shares; and VANGUARD GROUP INC, currently with $622.57 million in AEM stock with ownership of nearly 2.81% 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 257 institutional holders increased their position in Agnico Eagle Mines Limited [NYSE:AEM] by around 28,247,600 shares. Additionally, 277 investors decreased positions by around 19,507,054 shares, while 79 investors held positions by with 220,066,329 shares. The mentioned changes placed institutional holdings at 267,820,983 shares, according to the latest SEC report filing. AEM stock had 62 new institutional investments in for a total of 2,202,415 shares, while 96 institutional investors sold positions of 1,902,519 shares during the same period.

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