Agnico Eagle Mines Limited (AEM): Price Target and June Short Interest Disclosure

Agnico Eagle Mines Limited (AEM) has been rated by 12 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $66 and the lowest price target forecast is $33. The average forecast of all the analysts is $46.99 and the expected standard deviation is $9.75.

Agnico Eagle Mines Limited (AEM) reported a rise of 13.6% or 660,237 shares in its short interest. The short figure came in at 2.5% of the total floats. The average daily volume of 2,548,716 shares suggests that the days to cover 5,508,582 short positions, as on June 30,2016, will be 2. On June 15,2016, the short interest was 4,848,345 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, BMO Capital downgrades its view on Agnico Eagle Mines Limited (NYSE:AEM) according to the research report released by the firm to its investors. The shares have now been rated Market Perform by the stock experts at the ratings house. Earlier, the shares had a rating of Outperform. The rating by the firm was issued on May 12, 2016.


Agnico Eagle Mines Limited (NYSE:AEM): On Thursdays trading session , Opening price of the stock was $55.33 with an intraday high of $56.1. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $54.58. However, the stock managed to close at $56.08, a loss of 1.28% for the day. On the previous day, the stock had closed at $56.81. The total traded volume of the day was 2,138,331 shares.

Agnico Eagle Mines Ltd is a Canada-based gold producer. The Company has mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, and exploration activities in Canada, Europe, Latin America and the United States. It operates through three business units: Northern Business, Southern Business and Exploration. Its Northern Business consists of the operations in Canada and Finland, which include the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine and the Meliadine project. Its Southern Business consists of the Companys operations in Mexico. The Companys mining at Pinos Altos is conducted through its subsidiary, Agnico Eagle Mexico S.A. de C.V., which owns the Pinos Altos mine, including the Creston Mascota deposit. Its Exploration group focuses on the identification of new mineral reserves and resources, and new developments in stable and proven gold producing regions.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.