Agnico Eagle Mines Limited Stock Forecast
Green day on Wednesday for Agnico Eagle Mines Limited
(Updated on Apr 24, 2024)
The Agnico Eagle Mines Limited stock price gained 1.22% on the last trading day (Wednesday, 24th Apr 2024), rising from $62.92 to $63.69. During the last trading day the stock fluctuated 1.96% from a day low at $62.55 to a day high of $63.78. The price has risen in 7 of the last 10 days and is up by 3.97% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 109 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $176.08 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 40.73% during the next 3 months and, with a 90% probability hold a price between $83.80 and $91.12 at the end of this 3-month period.
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AEM Signals & Forecast
The Agnico Eagle Mines Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $62.92 and $58.98. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -0.235%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Agnico Eagle Mines Limited stock
Agnico Eagle Mines Limited finds support from accumulated volume at $61.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.23 between high and low, or 1.96%. For the last week, the stock has had daily average volatility of 1.91%.
Our recommended stop-loss: $61.28 (-3.78%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (AEM) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Agnico Eagle Mines Limited to open at $63.34, and during the day (based on 14 day Average True Range), to move between $62.11 and $65.27, which gives a possible trading interval of +/-$1.58 (+/-2.49%) up or down from last closing price. If Agnico Eagle Mines Limited takes out the full calculated possible swing range there will be an estimated 4.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $63.84 (0.24%) than the support at $61.45 (3.52%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Agnico Eagle Mines Limited will release earnings AMC on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.580. We will update the financials statements for Agnico Eagle Mines Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.80% in the first trading day after earnings release.
Is Agnico Eagle Mines Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Agnico Eagle Mines Limited stock to perform well in the short-term.
Current score: 2.767 Buy Candidate Unchanged
Predicted Opening Price for Agnico Eagle Mines Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $63.34 ( 0.552%) | $63.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AEM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.56 | 1.37 % | |
| R2 | 64.10 | 0.636 % | ||
| R1 | 63.81 | 0.183 % | ||
| Current price: | 63.69 | |||
| Support | S1 | 62.87 | -1.29 % | |
| S2 | 62.58 | -1.74 % | ||
| S3 | 62.11 | -2.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 63.84 | 0.236 % | ||
| Current price | 63.69 | |||
| Support | S1 | 61.45 | -3.52% | |
| S2 | 52.77 | -17.15% | ||
| S3 | 48.62 | -23.66% |
AEM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | May 30, 2024 | $0 | 0% |
| 2 | Feb 29, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.400 | 0.715% |
| 3 | Nov 30, 2023 | Nov 30, 2023 | Nov 30, 2023 | $0.400 | 0.745% |
| 4 | Jul 26, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.400 | 0.81% |
| 5 | Apr 27, 2023 | May 31, 2023 | Jun 15, 2023 | $0.400 | 0.793% |
FAQ
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