Deep-pocketed investors have adopted a bearish approach towards Agnico Eagle Mines AEM, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AEM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Agnico Eagle Mines. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 50% bearish. Among these notable options, 3 are puts, totaling $288,590, and 5 are calls, amounting to $296,890.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $95.0 for Agnico Eagle Mines over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Agnico Eagle Mines's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Agnico Eagle Mines's whale activity within a strike price range from $55.0 to $95.0 in the last 30 days.
Agnico Eagle Mines Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AEM | PUT | SWEEP | BEARISH | 11/15/24 | $15.1 | $14.9 | $15.1 | $95.00 | $202.3K | 65 | 135 |
| AEM | CALL | SWEEP | BULLISH | 01/17/25 | $10.8 | $10.6 | $10.8 | $75.00 | $91.8K | 7.1K | 69 |
| AEM | CALL | SWEEP | BEARISH | 11/15/24 | $4.1 | $3.5 | $3.5 | $85.00 | $87.5K | 1.9K | 0 |
| AEM | PUT | SWEEP | BEARISH | 09/20/24 | $2.4 | $2.25 | $2.35 | $80.00 | $58.7K | 777 | 203 |
| AEM | CALL | SWEEP | BULLISH | 01/17/25 | $10.8 | $10.7 | $10.8 | $75.00 | $57.2K | 7.1K | 69 |
About Agnico Eagle Mines
Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It produced more than 3.4 million gold ounces in 2023 and had about 15 years of gold reserves at end 2023. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.
Following our analysis of the options activities associated with Agnico Eagle Mines, we pivot to a closer look at the company's own performance.
Agnico Eagle Mines's Current Market Status
- Trading volume stands at 810,514, with AEM's price down by -1.41%, positioned at $81.53.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 62 days.
What The Experts Say On Agnico Eagle Mines
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $94.0.
- An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Agnico Eagle Mines, which currently sits at a price target of $94.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Agnico Eagle Mines with Benzinga Pro for real-time alerts.
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