Agnico Eagle Mines Limited (AEM) has risen sharply, recording gains of 3.27% in the past 4 weeks. However, the stock has corrected -4.17% in the past 1 week, providing a good buying opportunity on dips. Agnico Eagle Mines Limited (AEM) : During the past 4 weeks, traders have been relatively bearish on Agnico Eagle Mines Limited (AEM), hence the stock is down -3.27% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -4.76% relative to the S&P 500.
Agnico Eagle Mines Limited (NYSE:AEM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $52.77 and $52.62 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $53.89. The buying momentum continued till the end and the stock did not give up its gains. It closed at $53.73, notching a gain of 0.94% for the day. The total traded volume was 1,317,033 . The stock had closed at $53.23 on the previous day.
The stock has recorded a 20-day Moving Average of 1.2% and the 50-Day Moving Average is 6.45%. Agnico Eagle Mines Limited is up 30.21% in the last 3-month period. Year-to-Date the stock performance stands at 105.28%.
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.