Can Agnico Eagle Mines Limited (NYSE:AEM)’s Tomorrow be Different? The Stock Had Increase in Shorts

September 14, 2018 - By Robert Sims

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. The firm has “Hold” rating by RBC Capital Markets given on Tuesday, April 3. The firm has “Outperform” rating given on Tuesday, May 29 by BMO Capital Markets. RBC Capital Markets upgraded the shares of AEM in report on Monday, July 30 to “Outperform” rating. The firm earned “Neutral” rating on Wednesday, August 29 by Citigroup.

Agnico Eagle Mines Limited (NYSE:AEM) Ratings Chart

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