Agnico Eagle Mines Limited (AEM) : Traders are bullish on Agnico Eagle Mines Limited (AEM) as it has outperformed the S&P 500 by a wide margin of 1.17% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.28%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.21% in the last 1 week, and is up 4.57% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 6.01% and the 50-Day Moving Average is 13.61%. Agnico Eagle Mines Limited is up 23.38% in the last 3-month period. Year-to-Date the stock performance stands at 122.13%.
Agnico Eagle Mines Limited (NYSE:AEM): stock turned positive on Friday. Though the stock opened at $57.63, the bulls momentum made the stock top out at $58.53 level for the day. The stock recorded a low of $56.92 and closed the trading day at $58.14, in the green by 2.83%. The total traded volume for the day was 2,153,484. The stock had closed at $56.54 in the previous days trading.
Also, Brokerage firm Desjardins upgrades its rating on Agnico Eagle Mines Limited (NYSE:AEM). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on July 13, 2016.
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.