AEM Stock Summary and Trading Ideas (Agnico Eagle Mines | NYSE:AEM)

Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It produced more than 3.4 million gold ounces in 2023 and had about 15 years of gold reserves at end 2023. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.

Agnico Eagle Mines trades on the NYSE stock market under the symbol AEM.

As of April 18, 2024, AEM stock price climbed to $63.47 with 3,318,863 million shares trading.

AEM has a beta of 0.66, meaning it tends to be less sensitive to market movements. AEM has a correlation of 0.06 to the broad based SPY ETF.

AEM has a market cap of $31.63 billion. This is considered a Large Cap stock.

Last quarter Agnico Eagle Mines reported $2 billion in Revenue and $.57 earnings per share. This beat revenue expectation by $112 million and exceeded earnings estimates by $.07.

In the last 3 years, AEM stock traded as high as $74.50 and as low as $36.69.

The top ETF exchange traded funds that AEM belongs to (by Net Assets): GDX, DIVO, DFIV, FTRI, DFIC.

AEM stock has underperformed the market in the last year with a return of +13.2%, while SPY returned +22.3%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in AEM shares. However, AEM has outperformed the market in the last 3 month and 2 week periods, returning +30.4% and +2.8%, while SPY returned +6.1% and -3.8%, respectively. This indicates AEM has been having a stronger performance recently.

AEM support price is $61.15 and resistance is $63.83 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AEM stock will trade within this expected range on the day.