Agnico Eagle Mines Ltd (NYSE: AEM)’s stock price has gone rise by 2.98 in comparison to its previous close of 48.59, however, the company has experienced a 3.74% increase in its stock price over the last five trading days. Seeking Alpha reported 2023-11-07 that Agnico Eagle owns tier-one assets in tier-one jurisdictions. 86.9% of the company’s revenue derives from Canada and Australia, and the remaining is from Mexico and Finland. The last quarter’s results are solid. The average realized price was $1918/oz, compared to 2Q23 of $1726/oz. Agnico generated $1.62 billion in 3Q23, or 13.3% growth compared to 2Q22. Agnico’s financials are strong, with improved balance sheets, profitability, and prudent capital allocation. The company pays dividends with a 3.23% yield.
Is It Worth Investing in Agnico Eagle Mines Ltd (NYSE: AEM) Right Now?
Agnico Eagle Mines Ltd (NYSE: AEM) has a price-to-earnings ratio that is above its average at 9.40x. and a 36-month beta value of 0.86.
The public float for AEM is 493.47M, and at present, short sellers hold a 1.51% of that float. On November 21, 2023, the average trading volume of AEM was 2.46M shares.
AEM’s Market Performance
AEM’s stock has seen a 3.74% increase for the week, with a 1.31% rise in the past month and a 4.46% gain in the past quarter. The volatility ratio for the week is 2.18%, and the volatility levels for the past 30 days are at 2.68% for Agnico Eagle Mines Ltd The simple moving average for the past 20 days is 4.24% for AEM’s stock, with a -0.54% simple moving average for the past 200 days.
Analysts’ Opinion of AEM
Many brokerage firms have already submitted their reports for AEM stocks, with BMO Capital Markets repeating the rating for AEM by listing it as a “Outperform.” The predicted price for AEM in the upcoming period, according to BMO Capital Markets is $60 based on the research report published on April 03, 2023 of the current year 2023.
AEM Trading at 4.93% from the 50-Day Moving Average
After a stumble in the market that brought AEM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -18.18% of loss for the given period.
Volatility was left at 2.68%, however, over the last 30 days, the volatility rate increased by 2.18%, as shares surge +0.77% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.94% upper at present.
During the last 5 trading sessions, AEM rose by +3.30%, which changed the moving average for the period of 200-days by -5.00% in comparison to the 20-day moving average, which settled at $48.02. In addition, Agnico Eagle Mines Ltd saw -3.76% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for AEM
Equity return is now at value 14.02, with 9.63 for asset returns.
To sum up, Agnico Eagle Mines Ltd (AEM) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.