In Wednesday’s session, Agnico Eagle Mines Limited (NYSE:AEM) marked $41.11 per share, down from $41.13 in the previous session. While Agnico Eagle Mines Limited has underperformed by -0.05%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AEM fell by -22.26%, with highs and lows ranging from $67.14 to $38.02, whereas the simple moving average fell by -19.67% in the last 200 days.
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On September 12, 2022, Goldman started tracking Agnico Eagle Mines Limited (NYSE: AEM) recommending Buy. Barclays also Upgraded AEM shares as ‘Overweight’, setting a target price of $69 on the company’s shares in a report dated February 03, 2022. RBC Capital Mkts October 06, 2021d its ‘Sector Perform’ rating to ‘Outperform’ for AEM, as published in its report on October 06, 2021. National Bank Financial also rated the stock as ‘Sector Perform’.
Analysis of Agnico Eagle Mines Limited (AEM)
With AEM’s current dividend of $1.60 per share, investors can expect to earn a return regardless of performance. 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 determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. 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.
The average volume for any stock is also a very valuable indicator of volatility, and AEM has an average volume of 3.07M. On a monthly basis, the volatility of the stock is set at 3.45%, whereas on a weekly basis, it is put at 4.25%, with a loss of -4.40% over the past seven days.
How Do You Analyze Agnico Eagle Mines Limited Shares?
Gold giant Agnico Eagle Mines Limited (AEM) is based in the Canada and is one of the largest companies in the market. 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 23.16, there is a growth in quarterly earnings of -24.70%.
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. 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 -3.03% in the first quarter. The company now owns 20,098,838 shares of the stock, with a value of $828.27 million, following the sale of -627,293 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 12.17%. During the last quarter, the company dropped down 1,894,887 additional shares for a total stake of worth $719.8 million, bringing number of shares owned by the company to 17,466,650.
During the first quarter, RBC Global Asset Management, Inc. subtracted a -410,514 position in AEM. Massachusetts Financial Services purchased an additional 0.94 million shares in the last quarter, increasing its holdings by 8.02%, now holding 12.6 million shares worth $519.37 million. At the end of the first quarter, Fidelity Investments Canada ULC increased its AEM holdings by 23.84% and now holds 12.09 million AEM shares valued at $498.32 million with the added 2.33 million shares during the period. AEM shares are owned by institutional investors to the tune of 78.10% at present.