Agnico Eagle Stock Forecast - Naive Prediction

AEM
 Stock
  

USD 50.37  1.40  2.70%   

Agnico Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Agnico Eagle historical stock prices and determine the direction of Agnico Eagle Mines's future trends based on various well-known forecasting models. However, solely looking at the historical price movement is usually misleading. Macroaxis recommends to always use this module together with analysis of Agnico Eagle historical fundamentals such as revenue growth or operating cash flow patterns. Although Agnico Eagle naive historical forecasting may sometimes provide an important future outlook for the firm we recommend to always cross-verify it against solid analysis of Agnico Eagle Mines systematic risk associated with finding meaningful patterns of Agnico Eagle fundamentals over time.
Please continue to Historical Fundamental Analysis of Agnico Eagle to cross-verify your projections.
  
The value of Asset Turnover is estimated to pull down to 0.34. Weighted Average Shares is expected to hike to about 249.6 M this year. Weighted Average Shares Diluted is expected to hike to about 257.7 M this year.

Open Interest Agains t 2022-12-16 Agnico Option Contracts

Although open interest is a measure utilized in the options markets, it could be used to forecast Agnico Eagle's spot prices because the number of available contracts in the market changes daily, and new contracts can be created or liquidated at will. Since open interest Agnico Eagle's options reflect these daily shifts, investors could use the patterns of these changes to develop long and short trading strategies Agnico Eagle stock based on available contracts left at the end of a trading day.
Please note, to derive more accurate forecasting about market movement from the current Agnico Eagle's open interest, investors have to compare it to Agnico Eagle's spot prices. As Ford's stock price increases, high open interest indicates that money is entering the market, and the market is strongly bullish. Conversely, if the price of Agnico Eagle is decreasing and there is high open interest, that is a sign that the bearish trend will continue, and investors may react by taking short positions in Agnico. So, decreasing or low open interest during a bull market indicates that investors are becoming uncertain of the depth of the bullish trend, and a reversal in sentiment will likely follow.
Most investors in Agnico Eagle cannot accurately predict what will happen the next trading day because, historically, stock markets tend to be unpredictable and even illogical. Modeling turbulent structures requires applying different statistical methods, techniques, and algorithms to find hidden data structures or patterns within the Agnico Eagle's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Agnico Eagle's price structures and extracts relationships that further increase the generated results' accuracy.
A naive forecasting model for Agnico Eagle is a special case of the moving average forecasting where the number of periods used for smoothing is one. Therefore, the forecast of Agnico Eagle Mines value for a given trading day is simply the observed value for the previous period. Due to the simplistic nature of the naive forecasting model, it can only be used to forecast up to one period.

Agnico Eagle Naive Prediction Price Forecast For the 4th of December

Given 90 days horizon, the Naive Prediction forecasted value of Agnico Eagle Mines on the next trading day is expected to be 50.68 with a mean absolute deviation of 1.19, mean absolute percentage error of 2.37, and the sum of the absolute errors of 73.52.
Please note that although there have been many attempts to predict Agnico Stock prices using its time series forecasting, we generally do not recommend using it to place bets in the real market. The most commonly used models for forecasting predictions are the autoregressive models, which specify that Agnico Eagle's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Agnico Eagle Stock Forecast Pattern

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Agnico Eagle Forecasted Value

In the context of forecasting Agnico Eagle's Stock value on the next trading day, we examine the predictive performance of the model to find good statistically significant boundaries of downside and upside scenarios. Agnico Eagle's downside and upside margins for the forecasting period are 47.51 and 53.84, respectively. We have considered Agnico Eagle's daily market price to evaluate the above model's predictive performance. Remember, however, there is no scientific proof or empirical evidence that traditional linear or nonlinear forecasting models outperform artificial intelligence and frequency domain models to provide accurate forecasts consistently.
Market Value 50.37
50.68
Expected Value
53.84
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Naive Prediction forecasting method's relative quality and the estimations of the prediction error of Agnico Eagle stock data series using in forecasting. Note that when a statistical model is used to represent Agnico Eagle stock, the representation will rarely be exact; so some information will be lost using the model to explain the process. AIC estimates the relative amount of information lost by a given model: the less information a model loses, the higher its quality.
AICAkaike Information Criteria120.8131
BiasArithmetic mean of the errors None
MADMean absolute deviation1.1859
MAPEMean absolute percentage error0.0274
SAESum of the absolute errors73.525
This model is not at all useful as a medium-long range forecasting tool of Agnico Eagle Mines. This model is simplistic and is included partly for completeness and partly because of its simplicity. It is unlikely that you'll want to use this model directly to predict Agnico Eagle. Instead, consider using either the moving average model or the more general weighted moving average model with a higher (i.e., greater than 1) number of periods, and possibly a different set of weights.

Predictive Modules for Agnico Eagle

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Agnico Eagle Mines. Regardless of method or technology, however, to accurately forecast the stock or bond market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.
Sophisticated investors, who have witnessed many market ups and downs, frequently view the market will even out over time. This tendency of Agnico Eagle's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy. Please use the tools below to analyze the current value of Agnico Eagle in the context of predictive analytics.
Hype
Prediction
LowEstimated ValueHigh
46.9950.1553.31
Details
Intrinsic
Valuation
LowReal ValueHigh
45.3357.1460.30
Details
9 Analysts
Consensus
LowTarget PriceHigh
63.0075.00110.00
Details
Earnings
Estimates (7)
LowProjected EPSHigh
2.472.592.84
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Agnico Eagle. Your research has to be compared to or analyzed against Agnico Eagle's peers to derive any actionable benefits. When done correctly, Agnico Eagle's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy towards taking a position in Agnico Eagle Mines.

Other Forecasting Options for Agnico Eagle

For every potential investor in Agnico, whether a beginner or expert, Agnico Eagle's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Agnico Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Agnico. Basic forecasting techniques help filter out the noise by identifying Agnico Eagle's price trends.

Agnico Eagle Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Agnico Eagle stock to make a market-neutral strategy. Peer analysis of Agnico Eagle could also be used in its relative valuation, which is a method of valuing Agnico Eagle by comparing valuation metrics with similar companies.
Agnico Eagle MinesAdvanSixBraskem SA ClassB2Gold CorpCelaneseAMN Healthcare ServicesTwist Bioscience CorpFreedom Holding CorpGlobal X NASDAQFRANKLIN MUTUAL EUROPEANBHP Group LimitedNatural Health TrendIShares MSCI USABetaPro Canadian GoldAramark Holdings
 Risk & Return  Correlation

Agnico Eagle Mines Technical and Predictive Analytics

The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Agnico Eagle's price movements, , a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of Agnico Eagle's current price.

Agnico Eagle Risk Indicators

The analysis of Agnico Eagle's basic risk indicators is one of the essential steps in helping accuretelly forecast its future price. The process involves identifying the amount of risk involved in Agnico Eagle's investment and either accepting that risk or mitigating it. Along with some funamental techniques of forecasting Agnico Eagle stock price, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential stock investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Agnico Eagle without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Analyst Recommendations

Analyst recommendations and target price estimates broken down by several categories
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Pair Trading with Agnico Eagle

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Agnico Eagle position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Agnico Eagle will appreciate offsetting losses from the drop in the long position's value.

Moving together with Agnico Eagle

+0.93EGOEldorado Gold Corp Aggressive PushPairCorr
+0.86VALEVale SA ADR Potential GrowthPairCorr
+0.81JPMJPMorgan Chase Fiscal Year End 13th of January 2023 PairCorr
The ability to find closely correlated positions to Agnico Eagle could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Agnico Eagle when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Agnico Eagle - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Agnico Eagle Mines to buy it.
The correlation of Agnico Eagle is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Agnico Eagle moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Agnico Eagle Mines moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Agnico Eagle can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
Please continue to Historical Fundamental Analysis of Agnico Eagle to cross-verify your projections. Note that the Agnico Eagle Mines information on this page should be used as a complementary analysis to other Agnico Eagle's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.

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When running Agnico Eagle Mines price analysis, check to measure Agnico Eagle's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Agnico Eagle is operating at the current time. Most of Agnico Eagle's value examination focuses on studying past and present price action to predict the probability of Agnico Eagle's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Agnico Eagle's price. Additionally, you may evaluate how the addition of Agnico Eagle to your portfolios can decrease your overall portfolio volatility.
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Is Agnico Eagle's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Agnico Eagle. If investors know Agnico will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Agnico Eagle listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
(0.64) 
Market Capitalization
23.9 B
Quarterly Revenue Growth YOY
0.47
Return On Assets
0.0515
Return On Equity
0.0497
The market value of Agnico Eagle Mines is measured differently than its book value, which is the value of Agnico that is recorded on the company's balance sheet. Investors also form their own opinion of Agnico Eagle's value that differs from its market value or its book value, called intrinsic value, which is Agnico Eagle's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Agnico Eagle's market value can be influenced by many factors that don't directly affect Agnico Eagle's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Agnico Eagle's value and its price as these two are different measures arrived at by different means. Investors typically determine Agnico Eagle value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Agnico Eagle's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.