Agnico Eagle Mines Stock Market Value
| AEM Stock | USD 63.69 0.77 1.22% |
| Symbol | Agnico |
Agnico Eagle Mines Price To Book Ratio
Is Agnico Eagle's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Agnico Eagle. If investors know Agnico will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Agnico Eagle listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 1.431 | Dividend Share 1.6 | Earnings Share 3.95 | Revenue Per Share 13.56 | Quarterly Revenue Growth 0.269 |
The market value of Agnico Eagle Mines is measured differently than its book value, which is the value of Agnico that is recorded on the company's balance sheet. Investors also form their own opinion of Agnico Eagle's value that differs from its market value or its book value, called intrinsic value, which is Agnico Eagle's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Agnico Eagle's market value can be influenced by many factors that don't directly affect Agnico Eagle's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Agnico Eagle's value and its price as these two are different measures arrived at by different means. Investors typically determine if Agnico Eagle is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Agnico Eagle's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Agnico Eagle 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Agnico Eagle's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Agnico Eagle.
| 10/27/2023 |
| 04/24/2024 |
If you would invest 0.00 in Agnico Eagle on October 27, 2023 and sell it all today you would earn a total of 0.00 from holding Agnico Eagle Mines or generate 0.0% return on investment in Agnico Eagle over 180 days. Agnico Eagle is related to or competes with Royal Gold, and SSR Mining. Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexi... More
Agnico Eagle Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Agnico Eagle's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Agnico Eagle Mines upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.77 | |||
| Information Ratio | 0.1661 | |||
| Maximum Drawdown | 7.19 | |||
| Value At Risk | (2.47) | |||
| Potential Upside | 3.11 |
Agnico Eagle Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Agnico Eagle's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Agnico Eagle's standard deviation. In reality, there are many statistical measures that can use Agnico Eagle historical prices to predict the future Agnico Eagle's volatility.| Risk Adjusted Performance | 0.1428 | |||
| Jensen Alpha | 0.2859 | |||
| Total Risk Alpha | 0.1387 | |||
| Sortino Ratio | 0.1707 | |||
| Treynor Ratio | 0.3241 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Agnico Eagle's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Agnico Eagle Mines Backtested Returns
Agnico Eagle appears to be very steady, given 3 months investment horizon. Agnico Eagle Mines secures Sharpe Ratio (or Efficiency) of 0.22, which signifies that the company had a 0.22% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Agnico Eagle Mines, which you can use to evaluate the volatility of the firm. Please makes use of Agnico Eagle's Risk Adjusted Performance of 0.1428, downside deviation of 1.77, and Mean Deviation of 1.47 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Agnico Eagle holds a performance score of 17. The firm shows a Beta (market volatility) of 1.2, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Agnico Eagle will likely underperform. Please check Agnico Eagle's total risk alpha, expected short fall, market facilitation index, as well as the relationship between the value at risk and daily balance of power , to make a quick decision on whether Agnico Eagle's price patterns will revert.
Auto-correlation | 0.41 |
Average predictability
Agnico Eagle Mines has average predictability. Overlapping area represents the amount of predictability between Agnico Eagle time series from 27th of October 2023 to 25th of January 2024 and 25th of January 2024 to 24th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Agnico Eagle Mines price movement. The serial correlation of 0.41 indicates that just about 41.0% of current Agnico Eagle price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.41 | |
| Spearman Rank Test | 0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 34.82 |
Agnico Eagle Mines lagged returns against current returns
Autocorrelation, which is Agnico Eagle stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Agnico Eagle's stock expected returns. We can calculate the autocorrelation of Agnico Eagle returns to help us make a trade decision. For example, suppose you find that Agnico Eagle has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Agnico Eagle regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Agnico Eagle stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Agnico Eagle stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Agnico Eagle stock over time.
Current vs Lagged Prices |
| Timeline |
Agnico Eagle Lagged Returns
When evaluating Agnico Eagle's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Agnico Eagle stock have on its future price. Agnico Eagle autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Agnico Eagle autocorrelation shows the relationship between Agnico Eagle stock current value and its past values and can show if there is a momentum factor associated with investing in Agnico Eagle Mines.
Regressed Prices |
| Timeline |
Agnico Eagle Investors Sentiment
The influence of Agnico Eagle's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Agnico. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Agnico Eagle's public news can be used to forecast risks associated with an investment in Agnico. The trend in average sentiment can be used to explain how an investor holding Agnico can time the market purely based on public headlines and social activities around Agnico Eagle Mines. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Agnico Eagle's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Agnico Eagle's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Agnico Eagle's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Agnico Eagle.
Agnico Eagle Implied Volatility | 38.45 |
Agnico Eagle's implied volatility exposes the market's sentiment of Agnico Eagle Mines stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Agnico Eagle's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Agnico Eagle stock will not fluctuate a lot when Agnico Eagle's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Agnico Eagle in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Agnico Eagle's short interest history, or implied volatility extrapolated from Agnico Eagle options trading.
Pair Trading with Agnico Eagle
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Agnico Eagle position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Agnico Eagle will appreciate offsetting losses from the drop in the long position's value.Moving together with Agnico Stock
| 0.93 | AA | Alcoa Corp Financial Report 17th of July 2024 | PairCorr |
| 0.91 | AG | First Majestic Silver Financial Report 2nd of May 2024 | PairCorr |
| 0.94 | AU | AngloGold Ashanti plc Financial Report 28th of June 2024 | PairCorr |
Moving against Agnico Stock
| 0.88 | NC | NACCO Industries | PairCorr |
| 0.78 | X | United States Steel Earnings Call Tomorrow | PairCorr |
| 0.77 | VALE | Vale SA ADR Earnings Call Today | PairCorr |
The ability to find closely correlated positions to Agnico Eagle could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Agnico Eagle when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Agnico Eagle - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Agnico Eagle Mines to buy it.
The correlation of Agnico Eagle is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Agnico Eagle moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Agnico Eagle Mines moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Agnico Eagle can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Agnico Eagle Correlation, Agnico Eagle Volatility and Agnico Eagle Alpha and Beta module to complement your research on Agnico Eagle. Note that the Agnico Eagle Mines information on this page should be used as a complementary analysis to other Agnico Eagle's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Complementary Tools for Agnico Stock analysis
When running Agnico Eagle's price analysis, check to measure Agnico Eagle's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Agnico Eagle is operating at the current time. Most of Agnico Eagle's value examination focuses on studying past and present price action to predict the probability of Agnico Eagle's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Agnico Eagle's price. Additionally, you may evaluate how the addition of Agnico Eagle to your portfolios can decrease your overall portfolio volatility.
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Agnico Eagle technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.