The stock of Agnico Eagle Mines Limited (NYSE:AEM) registered a decrease of 24.45% in short interest. AEM’s total short interest was 4.00M shares in September as published by FINRA. Its down 24.45% from 5.29M shares, reported previously. With 1.74 million shares average volume, it will take short sellers 2 days to cover their AEM’s short positions. The short interest to Agnico Eagle Mines Limited’s float is 1.79%. About 1.45 million shares traded hands. Agnico Eagle Mines Ltd (USA) (NYSE:AEM) has risen 55.53% since February 8, 2016 and is uptrending. It has outperformed by 39.04% the S&P500.
Agnico Eagle Mines Limited is a gold producer with mining activities in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The company has a market cap of $11.86 billion. The Firm operates through three business units. It has a 354.09 P/E ratio. The Northern Business consists of its activities in Canada and Finland.
Out of 11 analysts covering Agnico Eagle Mines (NYSE:AEM), 4 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 36% are positive. $44 is the highest target while $32 is the lowest. The $37.57 average target is -26.35% below today’s ($51.01) stock price. Agnico Eagle Mines has been the topic of 17 analyst reports since October 5, 2015 according to StockzIntelligence Inc. Citigroup initiated the stock on August 2 with “Sell” rating. Barclays Capital maintained it with “Overweight” rating and $38 target price in a February 12 report. BMO Capital Markets downgraded the shares of AEM in a report on May 12 to “Market Perform” rating. BMO Capital Markets upgraded the firm’s rating on January 14. BMO Capital Markets has “Outperform” rating and $36 price target. Lastly, UBS downgraded the stock to “Neutral” rating in a March 28 report.
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