Could Agnico Eagle Mines Limited (NYSE:AEM) See a Reversal After More Sellers Came In?

September 14, 2018 - By Palma Niemeyer

Agnico Eagle Mines Limited (NYSE:AEM) Logo

The stock of Agnico Eagle Mines Limited (NYSE:AEM) registered an increase of 42.21% in short interest. AEM’s total short interest was 5.18 million shares in September as published by FINRA. Its up 42.21% from 3.64M shares, reported previously. With 1.59M shares average volume, it will take short sellers 3 days to cover their AEM’s short positions.

The stock decreased 1.31% or $0.44 during the last trading session, reaching $33.09. About 141,050 shares traded. Agnico Eagle Mines Limited (NYSE:AEM) has declined 31.26% since September 14, 2017 and is downtrending. It has underperformed by 46.88% the S&P500.

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Finland, and Mexico. The company has market cap of $7.66 billion. It operates through three divisions: Northern Business, Southern Business, and Exploration. It has a 47.96 P/E ratio. The firm primarily produces and sells gold, as well as explores for silver, zinc, and copper.

Agnico Eagle Mines Limited (NYSE:AEM) Ratings Coverage

Among 3 analysts covering Agnico Eagle (NYSE:AEM), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Agnico Eagle has $4900 highest and $38 lowest target. $43.50’s average target is 31.46% above currents $33.09 stock price. Agnico Eagle had 4 analyst reports since April 3, 2018 according to SRatingsIntel. As per Wednesday, August 29, the company rating was maintained by Citigroup. The firm earned “Hold” rating on Tuesday, April 3 by RBC Capital Markets. The company was upgraded on Tuesday, May 29 by BMO Capital Markets. RBC Capital Markets upgraded Agnico Eagle Mines Limited (NYSE:AEM) on Monday, July 30 to “Outperform” rating.

Agnico Eagle Mines Limited (NYSE:AEM) Ratings Chart

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