Spotlight on Agnico Eagle Mines: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bullish stance on Agnico Eagle Mines AEM.

And retail traders should know.

We noticed this today when the trades 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.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Agnico Eagle Mines.

This isn't normal.

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

Out of all of the special options we uncovered, 2 are puts, for a total amount of $117,787, and 9 are calls, for a total amount of $703,430.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $85.0 for Agnico Eagle Mines over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $60.0 to $85.0 in the last 30 days.

Agnico Eagle Mines Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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

• With a volume of 2,190,439, the price of AEM is up 4.16% at $73.12.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 21 days.

What The Experts Say On Agnico Eagle Mines

In the last month, 1 experts released ratings on this stock with an average target price of $77.0.

• An analyst from BMO Capital persists with their Outperform rating on Agnico Eagle Mines, maintaining a target price of $77.

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.