A share of Agnico Eagle Mines Limited (NYSE:AEM) closed at $43.76 per share on Thursday, up from $42.61 day before. While Agnico Eagle Mines Limited has overperformed by 2.70%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AEM fell by -30.89%, with highs and lows ranging from $67.14 to $38.02, whereas the simple moving average fell by -17.39% in the last 200 days.
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On February 10, 2022, BMO Capital Markets started tracking Agnico Eagle Mines Limited (NYSE: AEM) recommending Outperform. A report published by Barclays on February 03, 2022, Upgraded its rating to ‘Overweight’ for AEM. RBC Capital Mkts October 06, 2021d the rating to Outperform on October 06, 2021, and set its price target from $68 to $63. KeyBanc Capital Markets initiated its ‘Sector Weight’ rating for AEM, as published in its report on September 24, 2021. JP Morgan also rated the stock as ‘Neutral’.
Analysis of Agnico Eagle Mines Limited (AEM)
It’s important to note that AEM shareholders are currently getting $1.60 per share in dividends, so investors will receive a return regardless of how the company performs. Further, the quarter-over-quarter increase in sales is 60.60%, showing a positive trend in the upcoming months.
Agnico Eagle Mines Limited’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of 5.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.50, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and AEM is registering an average volume of 3.12M. On a monthly basis, the volatility of the stock is set at 3.85%, whereas on a weekly basis, it is put at 4.14%, with a gain of 4.17% over the past seven days.
How Do You Analyze Agnico Eagle Mines Limited Shares?
A giant in the Gold market, Agnico Eagle Mines Limited (AEM) is based in the Canada. When comparing Agnico Eagle Mines Limited shares with other companies under Basic Materials, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 24.65, there is a growth in quarterly earnings of -24.70%.
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 78.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in AEM shares?
The recent increase in stakes in AEM appears to be a result of several institutional investors and hedge funds increasing their positions. Van Eck Associates Corp.’s position in AEM has decreased by -13.94% in the first quarter. The company now owns 20,726,131 shares of the stock, with a value of $948.43 million, following the sale of -3,357,392 additional shares during the last quarter. GQG Partners LLC made another increased to its shares in AEM during the first quarter, upping its stake by 248.12%. During the last quarter, the company dropped down 11,098,612 additional shares for a total stake of worth $712.56 million, bringing number of shares owned by the company to 15,571,763.
During the first quarter, RBC Global Asset Management, Inc. subtracted a -1,234,701 position in AEM. Fidelity Management & Research Co purchased an additional 4.12 million shares in the last quarter, increasing its holdings by 48.78%, now holding 12.57 million shares worth $575.19 million. At the end of the first quarter, Massachusetts Financial Services increased its AEM holdings by 2.66% and now holds 11.67 million AEM shares valued at $533.91 million with the added 0.3 million shares during the period. AEM shares are owned by institutional investors to the tune of 78.10% at present.