On May 18, 2023 at 11:16:48 ET an unusually large $906.00K block of Call contracts in Agnico Eagle Mines (AEM) was sold, with a strike price of $40.00 / share, expiring in 246 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 1.81 sigmas above the mean, placing it in the 99.92th percentile of all recent large trades made in AEM options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 864 funds or institutions reporting positions in Agnico Eagle Mines. This is an increase of 25 owner(s) or 2.98% in the last quarter. Average portfolio weight of all funds dedicated to AEM is 0.63%, an increase of 13.19%. Total shares owned by institutions increased in the last three months by 1.36% to 341,530K shares. The put/call ratio of AEM is 0.39, indicating a bullish outlook.

Analyst Price Forecast Suggests 6.25% Downside

As of May 11, 2023, the average one-year price target for Agnico Eagle Mines is 51.67. The forecasts range from a low of 41.48 to a high of $68.99. The average price target represents a decrease of 6.25% from its latest reported closing price of 55.11.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Agnico Eagle Mines is 5,994MM, an increase of 1.16%. The projected annual non-GAAP EPS is 2.04.

What are Other Shareholders Doing?

Van Eck Associates holds 20,305K shares representing 4.11% ownership of the company. In it’s prior filing, the firm reported owning 22,058K shares, representing a decrease of 8.63%. The firm decreased its portfolio allocation in AEM by 20.47% over the last quarter.

FIL holds 18,681K shares representing 3.78% ownership of the company. In it’s prior filing, the firm reported owning 20,988K shares, representing a decrease of 12.35%. The firm decreased its portfolio allocation in AEM by 52.66% over the last quarter.

GDX – VanEck Vectors Gold Miners ETF holds 18,296K shares representing 3.71% ownership of the company. In it’s prior filing, the firm reported owning 16,498K shares, representing an increase of 9.83%. The firm increased its portfolio allocation in AEM by 7.00% over the last quarter.

Royal Bank Of Canada holds 14,405K shares representing 2.92% ownership of the company. In it’s prior filing, the firm reported owning 14,923K shares, representing a decrease of 3.60%. The firm decreased its portfolio allocation in AEM by 89.84% over the last quarter.

Deutsche Bank Ag\ holds 13,685K shares representing 2.77% ownership of the company. In it’s prior filing, the firm reported owning 12,626K shares, representing an increase of 7.74%. The firm decreased its portfolio allocation in AEM by 87.45% over the last quarter.

Agnico Eagle Mines Background Information
(This description is provided by the company.)

Agnico Eagle is a senior Canadian gold mining company that has produced precious metals since 1957. Its operating mines are located in Canada, Finland and Mexico, with exploration and development activities in each of these countries as well as in the United States, Sweden and Colombia. Agnico Eagle and its shareholders have full exposure to gold prices due to its long-standing policy of no forward gold sales. Agnico Eagle has declared a cash dividend every year since 1983.

This article originally appeared on Fintel

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