Agnico Other Current Assets vs Cash Analysis
AEM Stock | CAD 119.54 0.31 0.26% |
Agnico Eagle financial indicator trend analysis is way more than just evaluating Agnico Eagle Mines prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Agnico Eagle Mines is a good investment. Please check the relationship between Agnico Eagle Other Current Assets and its Cash accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Agnico Eagle Mines. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Other Current Assets vs Cash
Other Current Assets vs Cash Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Agnico Eagle Mines Other Current Assets account and Cash. At this time, the significance of the direction appears to have almost no relationship.
The correlation between Agnico Eagle's Other Current Assets and Cash is 0.16. Overlapping area represents the amount of variation of Other Current Assets that can explain the historical movement of Cash in the same time period over historical financial statements of Agnico Eagle Mines, assuming nothing else is changed. The correlation between historical values of Agnico Eagle's Other Current Assets and Cash is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Other Current Assets of Agnico Eagle Mines are associated (or correlated) with its Cash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Cash has no effect on the direction of Other Current Assets i.e., Agnico Eagle's Other Current Assets and Cash go up and down completely randomly.
Correlation Coefficient | 0.16 |
Relationship Direction | Positive |
Relationship Strength | Insignificant |
Other Current Assets
Assets expected to be converted into cash, sold, or consumed either in one year or in the operating cycle, which are not included under standard current asset categories.Cash
Cash refers to the most liquid asset of Agnico Eagle Mines, which is listed under current asset account on Agnico Eagle Mines balance sheet and usually includes currency, coins, checking accounts, and not deposited checks received from Agnico Eagle customers. The amounts must be unrestricted with restricted cash listed in a different Agnico Eagle account. The total amount of money in the form of currency that a company has in its possession. This includes all bills, coins, and funds in bank accounts.Most indicators from Agnico Eagle's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Agnico Eagle Mines current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Agnico Eagle Mines. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. At this time, Agnico Eagle's Selling General Administrative is very stable compared to the past year. As of the 11th of December 2024, Sales General And Administrative To Revenue is likely to grow to 0.05, while Tax Provision is likely to drop about 254.1 M.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 1.3B | 2.0B | 2.2B | 2.3B | Total Revenue | 3.8B | 5.7B | 6.6B | 7.0B |
Agnico Eagle fundamental ratios Correlations
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Agnico Eagle Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Agnico Eagle fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Common Stock Shares Outstanding | 233.3M | 238.2M | 243.1M | 244.7M | 489.9M | 514.4M | |
Total Assets | 8.8B | 9.6B | 10.2B | 23.5B | 28.7B | 30.1B | |
Other Current Liab | 216.5M | 225.0M | 267.5M | 546.8M | 502.5M | 527.6M | |
Total Current Liabilities | 775.6M | 515.7M | 761.8M | 946.4M | 1.0B | 1.1B | |
Total Stockholder Equity | 5.1B | 5.7B | 6.0B | 16.2B | 19.4B | 20.4B | |
Property Plant And Equipment Net | 7.0B | 7.3B | 7.6B | 18.5B | 21.2B | 22.3B | |
Net Debt | 1.5B | 1.3B | 1.5B | 834.8M | 1.7B | 1.7B | |
Retained Earnings | (647.3M) | (366.4M) | (165.3M) | (201.6M) | 963.2M | 1.0B | |
Accounts Payable | 158.3M | 167.1M | 189.1M | 259.0M | 317.9M | 333.8M | |
Cash | 321.9M | 402.5M | 185.8M | 658.6M | 338.6M | 220.6M | |
Non Current Assets Total | 7.6B | 8.4B | 8.9B | 21.3B | 26.5B | 27.8B | |
Non Currrent Assets Other | 184.9M | 259.3M | 353.2M | 466.9M | 779.6M | 818.6M | |
Other Assets | 184.9M | 259.3M | 561.4M | 450.5M | 518.1M | 544.0M | |
Cash And Short Term Investments | 414.2M | 406.5M | 191.1M | 658.6M | 348.8M | 268.0M | |
Short Term Investments | 92.3M | 3.9M | 5.3M | 9.9M | 10.2M | 9.7M | |
Liabilities And Stockholders Equity | 8.8B | 9.6B | 10.2B | 23.5B | 28.7B | 30.1B | |
Non Current Liabilities Total | 2.9B | 3.4B | 3.4B | 6.3B | 8.2B | 8.6B | |
Other Current Assets | 95.8M | 109.8M | 129.7M | 158.6M | 238.5M | 250.4M | |
Other Stockholder Equity | 217.4M | 212.9M | 228.4M | 220.7M | 223.8M | 212.6M | |
Total Liab | 3.7B | 3.9B | 4.2B | 7.3B | 9.3B | 9.7B | |
Property Plant And Equipment Gross | 7.0B | 7.3B | 14.1B | 26.1B | 32.5B | 34.1B | |
Total Current Assets | 1.2B | 1.2B | 1.3B | 2.2B | 2.2B | 2.3B | |
Accumulated Other Comprehensive Income | (47.9M) | 85.3M | 54.3M | (29.0M) | (99.0M) | (94.0M) | |
Short Term Debt | 374.7M | 20.9M | 258.0M | 136.5M | 146.4M | 153.7M | |
Short Long Term Debt Total | 1.8B | 1.7B | 1.7B | 1.5B | 2.0B | 2.1B | |
Inventory | 580.1M | 630.5M | 878.9M | 1.2B | 1.4B | 1.5B | |
Common Stock Total Equity | 5.3B | 5.4B | 5.6B | 5.8B | 6.6B | 3.3B | |
Common Stock | 5.6B | 5.8B | 5.9B | 16.3B | 18.3B | 19.3B | |
Net Receivables | 10.6M | 15.5M | 21.2M | 43.6M | 184.9M | 194.1M | |
Other Liab | 1.4B | 1.8B | 2.0B | 5.0B | 5.7B | 6.0B | |
Net Tangible Assets | 4.1B | 4.7B | 5.3B | 5.6B | 6.4B | 4.6B | |
Long Term Debt | 1.4B | 1.6B | 1.3B | 1.2B | 1.7B | 1.5B | |
Property Plant Equipment | 7.0B | 7.3B | 7.6B | 18.5B | 21.2B | 22.3B | |
Long Term Debt Total | 1.5B | 1.7B | 1.4B | 1.4B | 1.6B | 1.5B | |
Capital Lease Obligations | 116.8M | 120.3M | 131.4M | 151.3M | 161.5M | 96.3M |
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 Stock
Moving against Agnico Stock
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 instruments. 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.Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Agnico Eagle Mines. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.