Could Agnico Eagle Mines Limited (NYSE:AEM) Skyrocket? The Stock Has Too Many Sellers

June 20, 2017 - By Clifton Ray

 Could Agnico Eagle Mines Limited (NYSE:AEM) Skyrocket? The Stock Has Too Many Sellers

The stock of Agnico Eagle Mines Limited (NYSE:AEM) registered an increase of 8.46% in short interest. AEM’s total short interest was 3.24M shares in June as published by FINRA. Its up 8.46% from 2.98M shares, reported previously. With 1.55 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 1.44%.

About 128,662 shares traded. Agnico Eagle Mines Ltd (USA) (NYSE:AEM) has risen 7.82% since June 20, 2016 and is uptrending. It has underperformed by 8.88% 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 market cap of $10.50 billion. The Firm operates through three business units. It has a 50.67 P/E ratio. The Northern Business consists of its activities in Canada and Finland.

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

Among 14 analysts covering Agnico-Eagle Mines (NYSE:AEM), 8 have Buy rating, 1 Sell and 5 Hold. Therefore 57% are positive. Agnico-Eagle Mines had 31 analyst reports since July 24, 2015 according to SRatingsIntel. IBC initiated the shares of AEM in report on Friday, July 24 with “Sector Outperform” rating. The stock has “Hold” rating by HSBC on Monday, October 26. The company was downgraded on Friday, October 16 by Raymond James. The firm has “Outperform” rating by Macquarie Research given on Monday, November 2. The firm earned “Outperform” rating on Thursday, January 14 by BMO Capital Markets. The company was maintained on Tuesday, August 11 by RBC Capital Markets. The rating was upgraded by Raymond James to “Outperform” on Tuesday, October 25. TD Securities downgraded the stock to “Hold” rating in Wednesday, January 13 report. The rating was maintained by RBC Capital Markets with “Sector Perform” on Thursday, March 16. The rating was upgraded by Desjardins Securities to “Buy” on Wednesday, July 13.

More notable recent Agnico Eagle Mines Ltd (USA) (NYSE:AEM) news were published by: Seekingalpha.com which released: “Agnico Eagle Mines Earnings: Good But Not For Long-Term” on March 10, 2016, also Fool.ca with their article: “Gold Stocks Rally as Agnico Eagle Mines Ltd. Reports Better Than Expected Results” published on May 02, 2017, Fool.ca published: “Agnico Eagle Mines Ltd. Will Grow Gold Production Like a Weed” on September 19, 2016. More interesting news about Agnico Eagle Mines Ltd (USA) (NYSE:AEM) were released by: Fool.ca and their article: “Agnico Eagle Mines Ltd. Was Downgraded 3 Times This Summer: Should You Sell?” published on September 07, 2016 as well as Fool.ca‘s news article titled: “Agnico Eagle Mines Ltd. Benefits From Rising Gold Prices” with publication date: February 03, 2017.

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