Agnico Eagle Mines Limited (AEM) plunged -2.38% with the finishing price of $44.39 in Friday Trading Session. With Latest down move, stock price showed -14.40% negative in value from one year high price and revealed 18.85% rise in value from its one year low price.
Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) (“Agnico Eagle” or the “Company”) announced that it has disposed of 44,551,000 common shares of Belo Sun Mining Corp. (“Belo Sun”) in a pre-arranged trade executed through the facilities of the Toronto Stock Exchange (the “TSX”). The sale price was C$0.335 per common share (the 30-day volume weighted average price of the common shares of Belo Sun on the TSX at the time of the trade), for aggregate proceeds of C$14,924,585.
The Company reviews its portfolio of equity investments in junior mining companies on an ongoing basis. The Company completed the disposition in order to monetize a non-core asset held in its portfolio.
Immediately prior to the disposition, Agnico Eagle owned 89,102,760 common shares of Belo Sun, representing approximately 19.14% of the issued and outstanding common shares of Belo Sun on a non-diluted basis. Following the disposition, Agnico Eagle owns 44,551,760 common shares of Belo Sun, representing approximately 9.57% of the issued and outstanding common shares of Belo Sun on a non-diluted basis.
In connection with the disposition, Agnico Eagle granted to the purchaser an option (the “Option”) to acquire, through the facilities of the TSX, the remaining 44,551,760 common shares of Belo Sun currently owned by Agnico Eagle. The Option is exercisable for 60 days from the date hereof at the then-applicable price of the common shares of Belo Sun on the TSX. If the Option is not exercised prior to its expiry, Agnico Eagle intends to dispose of the remaining common shares of Belo Sun in an orderly fashion as market conditions permit. If Agnico Eagle is unable to sell the common shares at prices and on terms acceptable to it, it may continue to hold the common shares until such time as it is able to do so.
In the recent week Agnico Eagle Mines Limited stock price volatility was noted 2.11% while for the last month volatility was seen at 2.07%. Its Average True Range (ATR) shows a number of 0.93. Return on assets (ROA) results to 3.20%. While Return on investment (ROI) reached to 4.90%.
The 3.72% positive picture painted by the trends generated around 20 SMAs. The established market sentiment toward the stock has created a trading environment which can suitably be described as optimistic.
There has been positive move seen around 50 SMAs. The stock price is showing 6.75% distance above 50 SMA. On the surface, it seems as the higher the 50-day moving average goes, the more bullish the market is (and the lower it goes, the more bearish). In practice, however, the reverse is true. The 50-day moving average is perceived to be the dividing line between a stock that is technically healthy and one that is not. Furthermore, the percentage of stocks above their 50-day moving average helps determine the overall health of the market. Many market traders also use moving averages to determine profitable entry and exit points into specific securities.
Agnico Eagle Mines Limited (AEM) has demonstrated negative trend based on recent movement of 200 SMA with -1.00% during the course of recent market activity. This trend reveals recent direction. The current direction of 200 SMA is downward. When the price over the last 200 days is moving with increasing trend, look for buy opportunities and when it shows decreasing trend the price is below the last 200 days, look for sell opportunities.
The current value of the RSI is 60.04. The relative strength index (RSI) readings highlights overbought above 70 and oversold below 30. The stock also has a beta of -0.37. When beta is less/more than 1, it can be interpreted that the stock is theoretically less/more volatile than the market – something traders will surely be keeping an eye on.
In terms of profitability, The Company has a profit margin of 10.90%, gross margin of 52.80% and an operating of 18.30%. The stock price changed 2.02% in the past week. Shares of the company have performed -4.95% over the last three months and moved -2.18% over the last 12- months.
Analysts contributed mean rating at 2.4. This recommendation scale based between 1 and 5. Analysts offer the company with a rating of 3 would be a sign of a Hold rating. Analysts pass on shares a rating of 1 or 2 would be signifying a Buy. A rating of 4 or 5 would tip to a Sell suggestion.