Market Analysts see Agnico Eagle Mines Ltd [AEM] gaining to $54. Time to buy?

MAR Stock

Agnico Eagle Mines Ltd [NYSE: AEM] jumped around 1.65 points on Monday, while shares priced at $61.30 at the close of the session, up 2.77%. The company report on March 25, 2024 at 7:30 AM that AGNICO EAGLE PROVIDES NOTICE OF RELEASE OF FIRST QUARTER 2024 RESULTS, CONFERENCE CALL AND ANNUAL MEETING.

Stock Symbol: AEM (NYSE and TSX).

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Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico Eagle” or the “Company”) today announced that it will release its first quarter 2024 results on Thursday, April 25, 2024, after normal trading hours. Additionally, the Company will host its Annual and Special Meeting of Shareholders (the “AGM”) the following day, Friday, April 26, 2024, in a hybrid format (in Toronto and virtually).

Compared to the average trading volume of 3.09M shares, AEM reached a trading volume of 6563677 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 Ltd [AEM]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AEM shares is $68.42 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 1.32. 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.

Jefferies have made an estimate for Agnico Eagle Mines Ltd shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 29, 2024. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price from $57 to $60. The new note on the price target was released on April 03, 2023, representing the official price target for Agnico Eagle Mines Ltd stock.

The Average True Range (ATR) for Agnico Eagle Mines Ltd is set at 1.39, with the Price to Sales ratio for AEM stock in the period of the last 12 months amounting to 4.61. The Price to Book ratio for the last quarter was 1.57, with the Price to Cash per share for the same quarter was set at 0.70. Price to Free Cash Flow for AEM in the course of the last twelve months was 32.89 with Quick ratio for the last quarter at 0.74.

How has AEM stock performed recently?

Agnico Eagle Mines Ltd [AEM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.17. With this latest performance, AEM shares gained by 27.55% in over the last four-week period, additionally plugging by 34.46% over the last 6 months – not to mention a rise of 18.55% 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 77.83, with the RSI for the last a single of trading hit 83.19, and the three-weeks RSI is set at 73.02 for Agnico Eagle Mines Ltd [AEM]. The present Moving Average for the last 50 days of trading for this stock 51.31, while it was recorded at 58.17 for the last single week of trading, and 50.09 for the last 200 days.

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

Agnico Eagle Mines Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.74 and a Current Ratio set at 2.09.

Earnings analysis for Agnico Eagle Mines Ltd [AEM]

With the latest financial reports released by the company, Agnico Eagle Mines Ltd posted 0.57/share EPS, while the average EPS was predicted by analysts to be reported at 0.49/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.30%. 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 Ltd go to -0.70%.

Insider trade positions for Agnico Eagle Mines Ltd [AEM]

The top three institutional holders of AEM stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in AEM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in AEM stock with ownership which is approximately 5.8386%.