Large Outflow of Money Witnessed in Agnico Eagle Mines Limited

Agnico Eagle Mines Limited (AEM) : Fridays money flow analysis of Agnico Eagle Mines Limited (AEM) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $9.64 million. In comparison, the inflow of money on upticks was a meager $6.93 million. The dollar value of composite uptick trades minus the downtick trades was negative $2.71 million. The uptick to downtick ratio of 0.72 in the money flow shows weakness. The downtick transaction value was high at $1.23 million, which denotes distribution on strength.. Hence, the net money flow in the stock was negative ($1.23 million). Agnico Eagle Mines Limited (AEM) gained $1.04 at $53.13, a change of 2% over the previous days close.


The company Insiders own 0.51% of Agnico Eagle Mines Limited shares according to the proxy statements. Institutional Investors own 64.28% of Agnico Eagle Mines Limited shares.

Agnico Eagle Mines Limited (NYSE:AEM): The stock opened at $53.52 and touched an intraday high of $53.9899 on Friday. During the day, the stock corrected to an intraday low of $52.88, however, the bulls stepped in and pushed the price higher to close in the green at $53.57 with a gain of 2.84% for the day. The total traded volume for the day was 2,328,530. The stock had closed at $52.09 in the previous trading session.

Agnico Eagle Mines Limited (AEM) has been under a strong bear grip, hence the stock is down -7.39% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.68% in the past 1 week. The stock has risen by 2.19% in the past week indicating that the buyers are active at lower levels, but the stock is down -7.51% in the past 4 weeks.

Agnico Eagle Mines Ltd is a Canada-based gold producer. The Company has mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, and exploration activities in Canada, Europe, Latin America and the United States. It operates through three business units: Northern Business, Southern Business and Exploration. Its Northern Business consists of the operations in Canada and Finland, which include the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine and the Meliadine project. Its Southern Business consists of the Companys operations in Mexico. The Companys mining at Pinos Altos is conducted through its subsidiary, Agnico Eagle Mexico S.A. de C.V., which owns the Pinos Altos mine, including the Creston Mascota deposit. Its Exploration group focuses on the identification of new mineral reserves and resources, and new developments in stable and proven gold producing regions.

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