Agnico Eagle Mines Limited (NYSE:AEM) has tumbled 0.73% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 8.75% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.46% and the outperformance has advanced to 7.76% for the last 4 weeks period.
Agnico Eagle Mines Limited (NYSE:AEM): The stock opened at $51.17 on Friday but the bulls could not build on the opening and the stock topped out at $51.49 for the day. The stock traded down to $49.21 during the day, due to lack of any buying support eventually closed down at $50.22 with a loss of -0.57% for the day. The stock had closed at $50.51 on the previous day. The total traded volume was 3,011,721 shares.
The company shares have rallied 66.24% from its 1 Year high price. On Jun 16, 2016, the shares registered one year high at $52.79 and the one year low was seen on Aug 6, 2015. The 50-Day Moving Average price is $47.16 and the 200 Day Moving Average price is recorded at $36.55.
Many analysts have stated their opinion on the company shares. BMO Capital downgrades their rating on the shares of Agnico Eagle Mines Limited (NYSE:AEM). The current rating of the shares is Market Perform. Earlier, the shares were rated a Outperform by the brokerage firm. The rating by the firm was issued on May 12, 2016. Currently the company Insiders own 0.51% of Agnico Eagle Mines Limited shares according to the proxy statements. Institutional Investors own 62.72% of Agnico Eagle Mines Limited shares.
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.