Agnico Eagle Mines Limited [AEM] is -14.15% lower this YTD. Is it still time to buy?

Agnico Eagle Mines Limited [NYSE: AEM] stock went on an upward path that rose over 5.90% on Tuesday, amounting to a one-week price decrease of less than -0.31%. The company report on November 8, 2022 that PAN AMERICAN AND AGNICO EAGLE CONFIRM TERMINATION OF THE GOLD FIELDS TRANSACTION AND ANNOUNCE ACTIVATION OF THE ARRANGEMENT AGREEMENT WITH YAMANA.


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Pan American Silver Corp. (TSX: PAAS) (NASDAQ: PAAS) (“Pan American”) and Agnico Eagle Mines Limited (TSX: AEM) (NYSE: AEM)  (“Agnico Eagle”) are pleased to announce that the arrangement agreement with Yamana Gold Inc. (“Yamana”) which Yamana entered into earlier today (the “Pan American-Agnico Arrangement Agreement”) has become effective upon the termination today by Gold Fields Limited (“Gold Fields”) of the arrangement agreement between Yamana and Gold Fields entered into on May 31, 2022 (the “Gold Fields Arrangement Agreement”). The Pan American-Agnico Arrangement Agreement remains the same as previously announced by Pan American and Agnico Eagle earlier today, November 8, 2022. A copy of the press release issued earlier today is available under the SEDAR profiles (www.sedar.com) of Pan American and Agnico Eagle.

The previously scheduled special meeting of Yamana shareholders for Monday November 21, 2022 under the Gold Fields Arrangement Agreement will be cancelled, and Yamana will pay a termination fee of US$300 million to Gold Fields in accordance with the terms of the Gold Fields Arrangement Agreement. Pursuant to the terms of the Pan American-Agnico Arrangement Agreement, Pan American shall fund US$150 million in cash to Yamana to pay a portion of such termination fee.

Over the last 12 months, AEM stock dropped by -14.89%. The average equity rating for AEM stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $20.02 billion, with 456.27 million shares outstanding and 455.17 million shares in the current float. Compared to the average trading volume of 2.88M shares, AEM stock reached a trading volume of 6547814 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Agnico Eagle Mines Limited [AEM]:

Citigroup have made an estimate for Agnico Eagle Mines Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 30, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on September 12, 2022, representing the official price target for Agnico Eagle Mines Limited stock. On February 03, 2022, analysts increased their price target for AEM shares from 67 to 69.

The Average True Range (ATR) for Agnico Eagle Mines Limited is set at 2.03, with the Price to Sales ratio for AEM stock in the period of the last 12 months amounting to 3.77. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 1.89. Price to Free Cash Flow for AEM in the course of the last twelve months was 496.70 with Quick ratio for the last quarter at 1.00.

AEM Stock Performance Analysis:

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 -0.31. With this latest performance, AEM shares gained by 8.39% in over the last four-week period, additionally sinking by -14.68% over the last 6 months – not to mention a drop of -14.89% 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 57.58, with the RSI for the last a single of trading hit 60.09, and the three-weeks RSI is set at 55.69 for Agnico Eagle Mines Limited [AEM]. The present Moving Average for the last 50 days of trading for this stock 42.31, while it was recorded at 43.10 for the last single week of trading, and 49.68 for the last 200 days.

Insight into Agnico Eagle Mines Limited Fundamentals:

Agnico Eagle Mines Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 2.20.

AEM Stock EPS

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 -8.74%.

Agnico Eagle Mines Limited [AEM] Insider Position Details

There are presently around $12,216 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 20,328,727, which is approximately 1.144% 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 $796.83 million in AEM stocks shares; and VANGUARD GROUP INC, currently with $706.68 million in AEM stock with ownership of nearly 2.81% of the company’s market capitalization.

266 institutional holders increased their position in Agnico Eagle Mines Limited [NYSE:AEM] by around 27,844,881 shares. Additionally, 247 investors decreased positions by around 18,877,282 shares, while 73 investors held positions by with 221,046,867 shares. The mentioned changes placed institutional holdings at 267,769,030 shares, according to the latest SEC report filing. AEM stock had 65 new institutional investments in for a total of 2,591,607 shares, while 77 institutional investors sold positions of 1,999,495 shares during the same period.

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