Agnico Eagle Mines Options Trading: A Deep Dive into Market Sentiment
Investors with a lot of money to spend have taken a bearish stance on Agnico Eagle Mines AEM.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don’t know. But when something this big happens with AEM, it often means somebody knows something is about to happen.
Today, Benzinga’s options scanner spotted 8 options trades for Agnico Eagle Mines.
This isn’t normal.
The overall sentiment of these big-money traders is split between 37% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $43,400, and 7, calls, for a total amount of $661,568.
What’s The Price Target?
After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $70.0 and $90.0 for Agnico Eagle Mines, spanning the last three months.
Volume & Open Interest Development
In today’s trading context, the average open interest for options of Agnico Eagle Mines stands at 2639.8, with a total volume reaching 3,583.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Agnico Eagle Mines, situated within the strike price corridor from $70.0 to $90.0, throughout the last 30 days.
Agnico Eagle Mines Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AEM | CALL | TRADE | BEARISH | 01/17/25 | $4.6 | $4.5 | $4.5 | $90.00 | $405.0K | 8.6K | 1.6K |
| AEM | CALL | SWEEP | BULLISH | 10/17/25 | $13.2 | $13.0 | $13.2 | $85.00 | $69.9K | 100 | 55 |
| AEM | CALL | TRADE | BEARISH | 11/15/24 | $2.35 | $2.25 | $2.28 | $90.00 | $45.5K | 3.9K | 225 |
| AEM | CALL | TRADE | NEUTRAL | 01/17/25 | $4.6 | $4.4 | $4.5 | $90.00 | $45.0K | 8.6K | 610 |
| AEM | PUT | SWEEP | BULLISH | 12/20/24 | $3.7 | $3.5 | $3.5 | $85.00 | $43.4K | 422 | 34 |
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.
Having examined the options trading patterns of Agnico Eagle Mines, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Agnico Eagle Mines
- Currently trading with a volume of 2,327,317, the AEM’s price is down by -1.23%, now at $86.85.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 5 days.
Expert Opinions on Agnico Eagle Mines
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $85.0.
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* An analyst from Jefferies has decided to maintain their Hold rating on Agnico Eagle Mines, which currently sits at a price target of $85.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Agnico Eagle Mines options trades with real-time alerts from Benzinga Pro.
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