During the last session, Agnico Eagle Mines Ltd (NYSE:AEM)’s traded shares were 3.7 million, with the beta value of the company hitting 1.06. At the end of the trading day, the stock’s price was $62.00, reflecting an intraday gain of 2.33% or $1.41. The 52-week high for the AEM share is $61.89, that puts it up 0.18 from that peak though still a striking 30.29% gain since the share price plummeted to a 52-week low of $43.22. The company’s market capitalization is $30.93B, and the average intraday trading volume over the past 10 days was 3.49 million shares, and the average trade volume was 3.22 million shares over the past three months.
Agnico Eagle Mines Ltd (NYSE:AEM) trade information
Agnico Eagle Mines Ltd (AEM) registered a 2.33% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.33% in intraday trading to $62.00, hitting a weekly high. The stock’s 5-day price performance is 3.94%, and it has moved by 15.54% in 30 days. Based on these gigs, the overall price performance for the year is 11.95%. The short interest in Agnico Eagle Mines Ltd (NYSE:AEM) is 7.27 million shares and it means that shorts have 1.91 day(s) to cover.
Agnico Eagle Mines Ltd (AEM) estimates and forecasts
Statistics show that Agnico Eagle Mines Ltd has outperformed its competitors in share price, compared to the industry in which it operates. Agnico Eagle Mines Ltd (AEM) shares have gone up 42.89% during the last six months, with a year-to-date growth rate more than the industry average at 3.14% against 2.90. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -5.30% this quarter and then drop -12.30% in the quarter after that. In the rating firms’ projections, revenue will increase 7.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.69 billion as predicted by 3 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $1.77 billion by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.51 billion and $1.71 billion respectively. In this case, analysts expect current quarter sales to grow by 11.70% and then jump by 3.70% in the coming quarter.
While earnings are projected to return 10.53% in 2024, the next five years will return -0.70% per annum.
AEM Dividends
Agnico Eagle Mines Ltd is due to release its next quarterly earnings on April 25. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Agnico Eagle Mines Ltd is 1.60, with the dividend yield indicating at 2.58 percent, continuing the trend of increasing dividends in recent years.
Agnico Eagle Mines Ltd (NYSE:AEM)’s Major holders
Agnico Eagle Mines Ltd insiders own 0.12% of total outstanding shares while institutional holders control 71.55%, with the float percentage being 71.64%. Van Eck Associates Corporation is the largest shareholder of the company, while 1,041 institutions own stock in it. As of Jun 29, 2023, the company held over 21.46 million shares (or 4.32% of all shares), a total value of $1.07 billion in shares.
The next largest institutional holding, with 18.9 million shares, is of FIL LTD’s that is approximately 3.81% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $944.55 million.
Also, the Mutual Funds coming in first place with the largest holdings of Agnico Eagle Mines Ltd (AEM) shares are VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard International Stock Index-Total Intl Stock Indx. Data provided on Sep 29, 2023 indicates that VanEck ETF Trust-VanEck Gold Miners ETF owns about 17.43 million shares. This amounts to just over 3.51 percent of the company’s overall shares, with a $792.35 million market value. The same data shows that the other fund manager holds slightly less at 6.12 million, or about 1.23% of the stock, which is worth about $320.63 million.
