Agnico Eagle Mines Ltd (AEM) Shares Down Despite Recent Market Volatility

Agnico Eagle Mines Ltd (NYSE: AEM)’s stock price has plunge by -4.43relation to previous closing price of 68.63. Nevertheless, the company has seen a -4.85% plunge in its stock price over the last five trading sessions. zacks.com reported 2024-05-31 that The price of gold has outperformed stocks this year and since 2022. The mining stocks Barrick Gold, Agnico Eagle Mines and Harmony Gold are huge beneficiaries of this rally.

Is It Worth Investing in Agnico Eagle Mines Ltd (NYSE: AEM) Right Now?

The price-to-earnings ratio for Agnico Eagle Mines Ltd (NYSE: AEM) is above average at 69.41x, Company’s 36-month beta value is 1.06.Analysts have differing opinions on the stock, with 8 analysts rating it as a “buy,” 2 as “overweight,” 5 as “hold,” and 1 as “sell.”

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The public float for AEM is 497.95M, and currently, short sellers hold a 1.61% ratio of that floaft. The average trading volume of AEM on June 04, 2024 was 3.15M shares.

AEM’s Market Performance

AEM stock saw an increase of -4.85% in the past week, with a monthly gain of 0.84% and a quarterly increase of 24.29%. The volatility ratio for the week is 2.21%, and the volatility levels for the last 30 days are 1.92% for Agnico Eagle Mines Ltd (AEM). The simple moving average for the past 20 days is -3.89% for AEM’s stock, with a 22.72% simple moving average for the past 200 days.

Analysts’ Opinion of AEM

Many brokerage firms have already submitted their reports for AEM stocks, with Jefferies repeating the rating for AEM by listing it as a “Hold.” The predicted price for AEM in the upcoming period, according to Jefferies is $54 based on the research report published on February 29, 2024 of the current year 2024.

BMO Capital Markets, on the other hand, stated in their research note that they expect to see AEM reach a price target of $60, previously predicting the price at $57. The rating they have provided for AEM stocks is “Outperform” according to the report published on April 03rd, 2023.

AEM Trading at 1.84% 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 -8.27% of loss for the given period.

Volatility was left at 1.92%, however, over the last 30 days, the volatility rate increased by 2.21%, as shares sank -0.97% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +17.70% upper at present.

During the last 5 trading sessions, AEM fell by -4.99%, which changed the moving average for the period of 200-days by +40.93% in comparison to the 20-day moving average, which settled at $68.21. In addition, Agnico Eagle Mines Ltd saw 19.58% in overturn over a single year, with a tendency to cut further gains.

Stock Fundamentals for AEM

Current profitability levels for the company are sitting at:

  • 0.27 for the present operating margin
  • 0.32 for the gross margin

The net margin for Agnico Eagle Mines Ltd stands at 0.07. The total capital return value is set at 0.07. Equity return is now at value 2.39, with 1.61 for asset returns.

Based on Agnico Eagle Mines Ltd (AEM), the company’s capital structure generated 0.09 points at debt to capital in total, while cash flow to debt ratio is standing at 1.46. The debt to equity ratio resting at 0.1. The interest coverage ratio of the stock is 13.06.

Currently, EBITDA for the company is 3.28 billion with net debt to EBITDA at 0.43. When we switch over and look at the enterprise to sales, we see a ratio of 4.9. The receivables turnover for the company is 41.14for trailing twelve months and the total asset turnover is 0.24. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.21.

Conclusion

In a nutshell, Agnico Eagle Mines Ltd (AEM) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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