Massachusetts Financial Services has recently announced that it has increased stake in Agnico Eagle Mines Ltd (NYSE:AEM) by 1.12%. After grabbing 13.79 million shares, the institutional investor is now in possession of 0.15 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 2.79% having worth around $740.79 million. Moreover, RBC Global Asset Management, Inc. increased its share by 0.2 million to have a control over 13.49 million shares. And The Vanguard Group, Inc. raised its holdings to 0.16 million shares by acquiring 11.8 million shares or 2.39% of the stake.
Agnico Eagle Mines Ltd (AEM) concluded trading on 01/10/24 at a closing price of $52.06, with 3.03 million shares of worth about $158.0 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -1.18% during that period and on Wednesday the price saw a gain of about 0.95%. Currently the company’s common shares owned by public are about 494.38M shares, out of which, 493.50M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the AEM stock and their offered price forecasts bring an average price target of $89.54. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $97.00 and could fall to a lowest price of $75.62. The stock’s current price level is 21.43% above of average price target set by the analysts, while a rise to estimated low would result in gain of 31.16% for the stock. However, touching the estimated high of $97.00 would mean a gain of 46.33% for the stock.
VanEck Gold Miners ETF, DWS Top Dividende, and American Funds Income Fund of Ame are the top 3 mutual funds which are holding stakes in Agnico Eagle Mines Ltd VanEck Gold Miners ETF is currently holding 18.58 million shares of worth totaling $997.66 million. The company recently came buying 0.0 shares which brought its stake up to 3.76% of the company’s outstanding shares. American Funds Income Fund of Ame, after buying 8.66 million shares, have now control over 1.75% of the stake in the company. It holds 5.09 million shares of worth $464.79 million.
Agnico Eagle Mines Ltd (NYSE: AEM) started trading at $51.63, above $0.06 from concluding price of the previous day. However, the stock later moved at a day high price of 52.08, or with a gain of 0.95%. Stock saw a price change of -0.95% in past 5 days and over the past one month there was a price change of 1.60%. Year-to-date (YTD), AEM shares are showing a performance of -5.09% which decreased to -4.84% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $43.22 but also hit the highest price of $61.15 during that period. The average intraday trading volume for Agnico Eagle Mines Ltd shares is 2.75 million. The stock is currently trading -3.11% below its 20-day simple moving average (SMA20), while that difference is up 1.41% for SMA50 and it goes to 1.91% higher than SMA200.
Massachusetts Financial Services acquired 13.79 million shares of Agnico Eagle Mines Ltd having value of about $740.79 million. Data submitted at the U.S SEC by Massachusetts Financial Services revealed that the firm now holds 0.15 million shares in the company valued at close to $7921761.96, or have control over 1.12% stake in the company. Agnico Eagle Mines Ltd (NYSE: AEM) currently have 494.38M outstanding shares and institutions hold larger chunk of about 67.66% of that. Holding of mutual funds in the company is about 16.45% while other institutional holders and individual stake holders have control over 52.98% and — of the stake respectively.
The stock has a current market capitalization of $25.74B and its 3Y-monthly beta is at 1.05. PE ratio of stock for trailing 12 months is 9.78, while it has posted earnings per share of $5.32 in the same period. It has Quick Ratio of 0.71 while making debt-to-equity ratio of 0.11. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AEM, volatility over the week remained 2.11% while standing at 2.33% over the month.
Analysts are in expectations that Agnico Eagle Mines Ltd (AEM) stock would likely to be making an EPS of $Newmont Corporation in the current quarter, while forecast for next quarter EPS is $37.95 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Archer-Daniels-Midland Company which is $Aemetis, Inc at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Agnico Eagle Mines Limited in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -12.08% while it is estimated to increase by 17.33% in next year. EPS is likely to shrink at an annualized rate of -0.70% for next 5-years, compared to annual growth of 7.93% made by the stock over the past 5-years.
Analysts at 19 brokerage firms have issued recommendations for the Agnico Eagle Mines Ltd (AEM)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.26. Out of those 19 Wall Street analysts, 15 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on April 03, 2023 offering an Outperform rating for the stock and assigned a target price range of between $57 and $60 to it.
