Agnico Eagle Mines Ltd (USA) Has More Gas To Decrease After Today’s Bearish Options Activity

 Agnico Eagle Mines Ltd (USA) Has More Gas To Decrease After Today's Bearish Options Activity

In today’s session Agnico Eagle Mines Ltd (USA) (AEM) recorded an unusually high (531) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious AEM decrease. With 531 contracts traded and 11364 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: AEM161021P00055000 closed last at: $8.55 or 9.6% up. About 964,674 shares traded hands. Agnico Eagle Mines Ltd (USA) (NYSE:AEM) has risen 33.03% since March 4, 2016 and is uptrending. It has outperformed by 24.99% the S&P500.

Analysts await Agnico Eagle Mines Ltd (USA) (NYSE:AEM) to report earnings on October, 26. They expect $0.22 earnings per share, up 37.50% or $0.06 from last year’s $0.16 per share. AEM’s profit will be $48.31M for 51.28 P/E if the $0.22 EPS becomes a reality. After $0.13 actual earnings per share reported by Agnico Eagle Mines Ltd (USA) for the previous quarter, Wall Street now forecasts 69.23% EPS growth.

Agnico Eagle Mines Ltd (USA) (NYSE:AEM) Ratings Coverage

Out of 14 analysts covering Agnico-Eagle Mines (NYSE:AEM), 7 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 50% are positive. Agnico-Eagle Mines has been the topic of 26 analyst reports since July 24, 2015 according to StockzIntelligence Inc. On Monday, March 28 the stock rating was downgraded by UBS to “Neutral”. The company was upgraded on Thursday, January 14 by BMO Capital Markets. The stock of Agnico Eagle Mines Ltd (USA) (NYSE:AEM) earned “Sector Outperform” rating by IBC on Friday, July 24. The rating was downgraded by BMO Capital Markets on Thursday, May 12 to “Market Perform”. The stock of Agnico Eagle Mines Ltd (USA) (NYSE:AEM) has “Market Perform” rating given on Monday, March 14 by Raymond James. The rating was upgraded by Bank of America to “Buy” on Wednesday, August 12. Canaccord Genuity maintained the shares of AEM in a report on Monday, August 24 with “Buy” rating. The rating was initiated by Citigroup on Tuesday, August 2 with “Sell”. The rating was maintained by Barclays Capital with “Overweight” on Friday, February 12. Barclays Capital upgraded Agnico Eagle Mines Ltd (USA) (NYSE:AEM) on Thursday, January 14 to “Overweight” rating.

According to Zacks Investment Research, “Agnico-Eagle Mines Limited is a Canadian-based gold producer with operations in Canada, Finland and Mexico, and exploration and development activities in Canada, Finland, Mexico and the U.S. Agnico-Eagle Mines Limited is based in Toronto, Canada.”

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 $9.91 billion. The Firm operates through three business units. It has a 313.27 P/E ratio. The Northern Business consists of its activities in Canada and Finland.

AEM Company Profile

Agnico Eagle Mines Limited (Agnico Eagle), incorporated on June 1, 1972, 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 Firm operates through three business units: Northern Business, Southern Business and Exploration. The Company’s Northern Business consists of the Company’s activities in Canada and Finland. The Company’s Canadian properties include the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine and the Meliadine project, each of which is held directly by the Company, and an interest in the Canadian Malartic Mine, which is held indirectly through a subsidiary of the Company and Canadian Malartic Corporation. The Company’s activities in Finland are conducted through its indirect subsidiary, Agnico Eagle Finland Oy, which owns the Kittila mine. The Company’s Southern Business consists of the Company’s activities in Mexico. The Company’s Pinos Altos mine, including the Creston Mascota deposit, is held through its subsidiary, Agnico Eagle Mexico S.A. de C.V. The La India mine is owned by the Company’s indirect subsidiary, Agnico Sonora, S.A. de C.V.

More notable recent Agnico Eagle Mines Ltd (USA) (NYSE:AEM) news were published by: Fool.ca which released: “Agnico Eagle Mines Ltd. Was Downgraded 3 Times This Summer: Should You Sell?” on September 07, 2016, also Fool.ca with their article: “Agnico Eagle Mines Ltd. Will Grow Gold Production Like a Weed” published on September 19, 2016, Fool.ca published: “Agnico Eagle Mines Ltd.: Should You Buy This Gold Stock?” on December 16, 2015. More interesting news about Agnico Eagle Mines Ltd (USA) (NYSE:AEM) were released by: Fool.ca and their article: “Barrick Gold Corp. vs Agnico Eagle Mines Ltd.: Which Stock Is Set to Soar?” published on January 20, 2016 as well as Fool.ca‘s news article titled: “Should You Buy Shares of Agnico Eagle Mines Ltd. Today?” with publication date: February 13, 2015.

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