Smart Money Is Betting Big In AEM Options

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 11 options trades for Agnico Eagle Mines.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $36,900, and 10, calls, for a total amount of $1,164,713.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $55.0 for Agnico Eagle Mines during the past quarter.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Agnico Eagle Mines options trades today is 4564.67 with a total volume of 10,009.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Agnico Eagle Mines's big money trades within a strike price range of $35.0 to $55.0 over the last 30 days.

Agnico Eagle Mines Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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

Where Is Agnico Eagle Mines Standing Right Now?

• With a trading volume of 2,766,840, the price of AEM is up by 0.81%, reaching $48.45.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 55 days from now.

What Analysts Are Saying About Agnico Eagle Mines

In the last month, 1 experts released ratings on this stock with an average target price of $54.0.

• An analyst from Jefferies downgraded its action to Hold with a price target of $54.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Agnico Eagle Mines, Benzinga Pro gives you real-time options trades alerts.