Agnico Eagle Mines Limited (AEM) looking to reclaim success with recent performance

Agnico Eagle Mines Limited (NYSE: AEM) stock jumped 1.58% on Thursday to $48.09 against a previous-day closing price of $47.34. With 1.77 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.03 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $48.45 whereas the lowest price it dropped to was $47.31. The 52-week range on AEM shows that it touched its highest point at $61.15 and its lowest point at $36.69 during that stretch. It currently has a 1-year price target of $66.22. With its current market cap of 23.69 billion, AEM has annualized dividend of $1.60 while the current yield stands at 3.33%. Beta for the stock currently stands at 0.84.

Top 5 EV Tech Stocks to Buy for 2023

The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".

Click Here to Download the FREE Report.


Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AEM was up-trending over the past week, with a rise of 1.99%, but this was up by 2.58% over a month. Three-month performance dropped to -4.09% while six-month performance fell -0.17%. The stock gained 12.33% in the past year, while it has lost -7.50% so far this year. A look at the trailing 12-month EPS for AEM yields 5.15 with Next year EPS estimates of 2.15. For the next quarter, that number is 0.51. This implies an EPS growth rate of -33.40% for this year and -1.78% for next year. EPS is expected to decline by -0.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 8.10%.

Float and Shares Shorts:

At present, 494.14 million AEM shares are outstanding with a float of 494.06 million shares on hand for trading. On Aug 30, 2023, short shares totaled 13.59 million, which was 2.75% higher than short shares on Jul 30, 2023. In addition to Mr. Sean Boyd C.A., CPA, F.C.A., FCPA as the firm’s Exec. Chairman, Mr. Ammar Al-Joundi M.B.A. serves as its CEO, Pres & Director.

Institutional Ownership:

Through their ownership of 67.28% of AEM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.06% of AEM, in contrast to 16.12% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in AEM with 4.34% of the stake, Van Eck Associates Corp. holds 21,462,392 shares worth 21,462,392. A second-largest stockholder of AEM, Fidelity Investments Canada ULC, holds 16,029,750 shares, controlling over 3.24% of the firm’s shares. Massachusetts Financial Services is the third largest shareholder in AEM, holding 13,642,802 shares or 2.76% stake. With a 3.66% stake in AEM, the VanEck Gold Miners ETF is the largest stakeholder. A total of 18,075,996 shares are owned by the mutual fund manager. The DWS Top Dividende, which owns about 1.82% of AEM stock, is the second-largest Mutual Fund holder. It holds 9,008,743 shares valued at 472.15 million. Vanguard Total International Stoc holds 1.24% of the stake in AEM, owning 6,117,739 shares worth 320.63 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, AEM reported revenue of $1.58B and operating income of $503.49M. The EBITDA in the recently reported quarter was $790.87M and diluted EPS was $0.63.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AEM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AEM analysts setting a high price target of $73.69 and a low target of $55.00, the average target price over the next 12 months is $66.67. Based on these targets, AEM could surge 53.23% to reach the target high and rise by 14.37% to reach the target low. Reaching the average price target will result in a growth of 38.64% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Leave a Comment

Your email address will not be published. Required fields are marked *