Agnico Eagle Mines L

AEM
Real-time BATS EXCHANGE - 12/06 03:48:40 pm
60.305USD
-1.73%

Agnico Eagle Mines Limited : Buying pressure

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David Meurisse
Contributor / Partner

Strategy published on : 12/03/2019 | 09:47

long trade
Live

Entry price : 61.2$
Target : 69.7$
Stop-loss : 57.7$
Potential : 13.89%

Agnico Eagle Mines Limited shares have been in strong demand lately. The technical chart pattern looks positive which may give rise to new gains.
Investors have an opportunity to buy the stock and target the $ 69.7.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

● The company has solid fundamentals for a short-term investment strategy.


Strengths

● Growth progress expectations are rather promising. Indeed, sales are expected to rise sharply in the coming years.

● Over the last 4 months, analysts have significantly revised upwards the company's estimated sales.

● Over the past year, analysts have regularly revised upwards their sales forecast for the company.

● For the last 4 months, the company has been enjoying highly positive EPS revisions, which were frequently and significantly raised.

● For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner.

● Analysts have a positive opinion on this stock. Average consensus recommends overweighting or purchasing the stock.

● Within the weekly time frame the stock shows a bullish technical configuration above the support level at 49.23 USD


Weaknesses

● The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.

● Technically, the stock approaches a strong medium-term resistance at USD 64.15.

● Prospects from analysts covering the stock are not consistent. Such dispersed sales estimates confirm the poor visibility into the group's activity.

● The company's "enterprise value to sales" ratio is among the highest in the world.

● The company's valuation in terms of earnings multiples is rather high. Indeed, the firm is getting paid 64.88 times its estimated earnings per share for the ongoing year.

● The firm pays small or no dividend to shareholders. For that reason, it is not a yield company.

Zonebourse.com 2019
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