Agnico Eagle Mines Limited (AEM:CA) is one of the best performing stocks in the materials sector in the S&P/TSX Composite Index at the lunch break on September 22. Shares of AEM:CA have climbed 1.02% about halfway through the session to $74.19 after closing the day prior at $73.44. So far, the stock has traded as high as $74.57 and as low as $73.35 in morning action. Today’s advance has come with about 410,582 shares changing hands, compared to an average 30-day volume of 653,469 for Agnico Eagle Mines Limited. The price is currently below the 30-day volume weighted average price of $73.97 for AEM:CA.
The share appreciation gives the materials company a market capitalization of $16.49 billion based upon 224.55 million shares outstanding. It also means that Agnico Eagle Min has a price-to-book ratio of 2.84:1 and a price-to-earnings ratio of 371.3:1.
In the past 52 weeks, shares of AEM:CA have traded as low as $30.54 and as high as $78.35. Technical traders will take note that at $74.19, shares of AEM:CA are trading above their 200-day MA at $55.89 and above their 50-day MA at $71.59. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is Agnico Eagle Min?
Agnico Eagle Mines Ltd is a gold mining company. It is engaged in production and sale of gold as well as exploration and mine development. Its mining operations are located in Canada, Mexico and Finland. The company’s 5764 employees are led by CEO Sean Boyd from the corporate headquarters at 145 King Street East.
What is the S&P/TSX Composite Index?
Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.
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