Agnico Eagle Mines Ltd (AEM)

[Sam Dan]

Latest recommendation of AEM

"Jay Taylor, in the Jan. 13, 2015, edition of Gold, Energy & Tech Stocks, says buy Agnico Eagle Mines Ltd., recently $35.55. Mr. Taylor said buy five times from April 16, 2005, to Dec. 18, 2013, at prices ranging from $13.32 to $44.28. Along the way, he twice said take some profits -- perhaps sell half -- on Oct. 16, 2007, at $53.50 and July 17, 2009, at $61.96. Assuming a $1,000 investment for each buy, the two half sales yielded profits of $1,601 and $1,458, respectively. The remaining $3,000 position is now worth $3,732. Agnico has long been a favourite of Mr. Taylor's, thanks to its determination to maintain profit margins rather than expand through expensive acquisitions. As a result, it has the highest-grade reserves in North America, at an average of 2.36 grams per tonne. (South Africa's Randgold has a higher average reserve grade, at 3.64 g/t, but among North Americans, Agnico is at the top. The next-best grade goes to Eldorado Gold at 1.17 g/t.) Agnico is producing in Finland, Quebec, Nunavut and Mexico, all relatively safe areas, with plenty of opportunities to increase production. If gold prices are on their way up, as Mr. Taylor believes, then Agnico "should be among the best performing major gold producers."