Agnico Eagle Mines Limited (AEM) has risen sharply, recording gains of 3.72% in the past 4 weeks. However, the stock has corrected -0.38% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.21% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Agnico Eagle Mines Limited (NYSE:AEM): The stock opened at $58.22 on Friday but the bulls could not build on the opening and the stock topped out at $58.55 for the day. The stock traded down to $57.61 during the day, due to lack of any buying support eventually closed down at $57.92 with a loss of -3.10% for the day. The stock had closed at $59.77 on the previous day. The total traded volume was 2,212,451 shares.
The stock has recorded a 20-day Moving Average of 3.77% and the 50-Day Moving Average is 10.2%. Agnico Eagle Mines Limited is up 26.03% in the last 3-month period. Year-to-Date the stock performance stands at 121.28%.
Agnico Eagle Mines Limited (AEM) stock is expected to deviate a maximum of $10.87 from the average target price of $53.57 for the short term period. 10 Street Experts have initiated coverage on the stock with the most promising target being $68 and the most muted being $37.
Agnico Eagle Mines Ltd is a Canada-based gold producer. The Company has mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, and exploration activities in Canada, Europe, Latin America and the United States. It operates through three business units: Northern Business, Southern Business and Exploration. Its Northern Business consists of the operations in Canada and Finland, which include the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine and the Meliadine project. Its Southern Business consists of the Companys operations in Mexico. The Companys mining at Pinos Altos is conducted through its subsidiary, Agnico Eagle Mexico S.A. de C.V., which owns the Pinos Altos mine, including the Creston Mascota deposit. Its Exploration group focuses on the identification of new mineral reserves and resources, and new developments in stable and proven gold producing regions.