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Agnico Eagle Mines Ltd. Securities Litigation Website
http://www.agnicoeagleclassaction.com/#spnl
NOTICE OF CERTIFICATION (AUTHORIZATION) AND LEAVE TO
PROCEED WITH STATUTORY MISREPRESENTATION CLAIMS
Read this notice carefully as it may affect your legal rights
This notice is directed to all persons, wherever they may reside or
be domiciled, who acquired securities of
Agnico Eagle Mines Limited (“Agnico”) either:
over the TSX, Chi-X, Alpha, Omega, TriAct, TMX Select, Pure
Trading, Liquidnet and Instinet Canada trading platforms between,
and including, March 26, 2010 and October 18, 2011 (the “Class
Period”); OR
in exchange for securities of Comaplex Minerals Corp. by way of a
plan of arrangement pursuant to the Alberta Business Corporations
Act completed on or around July 6, 2010,
and continued to hold some or all of those securities on one or
both of July 28, 2011 and October 19, 2011 (the “Class Members”),
except for certain persons associated with the Defendants, as
described below.
http://www.agnicoeagleclassaction.com/#spnl
The world's most valuable gold miner, Vancouver-based
Goldcorp (TSE:G) and fellow Canadian counters
Iamgold (TSE:IMG),
Yamana Gold (TSX:YRI) and
Agnico Eagle Mines (TSX:AEM)
all received upgrades from HSBC.
Iamgold jumped nearly 4% in value on the Toronto big board,
bringing its gains since Thursday's broad gold stock rally to 11%.
Yamana (up 2.8%),
Agnico Eagle (1.4%) and
Goldcorp (2.4%) all reacted positively.
South African miner Gold Fields (NYSE:GFI) stood out as the sole
downgrade, but HSBC citing the world's fourth largest gold
producer's contrarian purchase of high-cost mines and an SEC
investigation into a 2010 deal under the South African
government's so-called Black Empowerment Policy.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=92996221
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=93116657
God Bless
up $4.85 shorts covering
Agnico Eagle Mines (TSX:AEM) received upgrades from HSBC -
More good news for Barrick Gold shareholders
Frik Els | October 21, 2013
http://www.mining.com/more-good-news-for-barrick-gold-shareholders-21455/
HSBC Global Research upgraded a number of gold stocks on Monday after seeing "value opened up again," providing fresh impetus for a rerating of the sector following last week's bump.
The investment bank upgraded world number one gold producer Barrick Gold Corp (TSE:ABX) to overweight from neutral forecasting "actually reasonably strong operating results" amid a weaker gold prices.
HSBC cited the positive impact of the sale of the Yilgarn South assets in Australia to South Africa's Gold Fields, a slower ramp-up at Pueblo Viejo and good news from the $8 billion Pascua Lama project on the border between Chile and Argentina.
Barrick's permit for the massive project which is years behind schedule and way over budget, has been upheld by Chile's Supreme Court although a local Antofagasta Court of Appeals last week agreed to hear a new appeal by environmental groups lobbying against the proposed mine high in the Andes.
HSBC predicts the Toronto-based miner will produce 1.82 million ounces at a cash cost of $577 an ounce in its third quarter, in line with the company's own guidance of 7,000 to 7,400 ounces of output for the year and at the lower end of Barrick's own cash cost predictions.
In late afternoon trade on Monday Barrick Gold added 1.8% giving up some of its gains enjoyed earlier in the day.
Barrick is now worth $19.4 billion on the TSX, still down 44% so far this year amid an aggressive divestment and cost-cutting drive.
The world's most valuable gold miner, Vancouver-based
Goldcorp (TSE:G) and fellow Canadian counters
Iamgold (TSE:IMG),
Yamana Gold (TSX:YRI) and Agnico Eagle Mines (TSX:AEM)
all received upgrades from HSBC.
Iamgold jumped nearly 4% in value on the Toronto big board, bringing its gains since Thursday's broad gold stock rally to 11%. Yamana (up 2.8%),
Agnico Eagle (1.4%) and
Goldcorp (2.4%) all reacted positively.
South African miner Gold Fields (NYSE:GFI) stood out as the sole downgrade, but HSBC citing the world's fourth largest gold producer's contrarian purchase of high-cost mines and an SEC investigation into a 2010 deal under the South African government's so-called Black Empowerment Policy.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=92996221
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=93116657
God Bless
Intensive Insider Buying In Agnico-Eagle Mines
http://seekingalpha.com/article/1752122-intensive-insider-buying-in-agnico-eagle-mines?source=google_news
Agnico Eagle Mines L (AEM) khazarian fed gypsy fiat$24.97 ? -0.55 (-2.16%)
Volume: 1,861,734 @ 4:11:34 PM ET
Bid Ask Day's Range
- - 24.8 - 25.68
AEM Detailed Quote Wiki
Gold going to $7,000 in currency reset says author Jim Rickards -
http://www.arabianmoney.net/gold-silver/2013/07/25/gold-going-to-7000-in-currency-reset-says-author-jim-rickards/
http://www.earningsimpact.com/Transcript/82316/NEM/Q2-2013-Earnings-Call
http://www.biblebelievers.org.au/monie.htm
God Bless
Agnico Eagle Mines L (AEM) khazarian fed gypsy fiat$24.97 ? -0.55 (-2.16%)
Volume: 1,861,734 @ 4:11:34 PM ET
Bid Ask Day's Range
- - 24.8 - 25.68
AEM Detailed Quote Wiki
Gold going to $7,000 in currency reset says author Jim Rickards -
http://www.arabianmoney.net/gold-silver/2013/07/25/gold-going-to-7000-in-currency-reset-says-author-jim-rickards/
http://www.earningsimpact.com/Transcript/82316/NEM/Q2-2013-Earnings-Call
http://www.biblebelievers.org.au/monie.htm
God Bless
Agnico Eagle Mines L (AEM) khazarian fed gypsy fiat$27.31 ? 0.99 (3.76%)
Volume: 833,240 @ 12:32:14 PM ET
Bid Ask Day's Range
- - 26.46 - 27.45
AEM Detailed Quote Wiki
Gold going to $7,000 in currency reset says author Jim Rickards -
http://www.arabianmoney.net/gold-silver/2013/07/25/gold-going-to-7000-in-currency-reset-says-author-jim-rickards/
http://www.earningsimpact.com/Transcript/82316/NEM/Q2-2013-Earnings-Call
http://www.biblebelievers.org.au/monie.htm
God Bless
The recent spike in prices of gold has done wonders for the outlook. Now gold is up 18% and the stocks are up more than 40-50% above the lows made in June. Agnico has been an under-performer, as it has appreciated by around 28% from the lows. Many of the lower cost producers have gained more, though there are some larger, higher cost companies which have done better. The momentum in gold may take it a few percentages higher, but it is important to remember that a correction is due. The stocks may also correct on profit booking, but the important levels are expected to hold. A minor correction is required so that the rally becomes more sensible and believable. In any case, the rise has changed the outlook, and the utter gloom has dissipated. There has been a marked improvement from the sentiments prevalent in June. Not to say that nothing can go wrong, but one has to keep the faith. Those who bought around the June lows have been rewarded with good gains. Investment in mining companies may increase if gold survives a correction with a strong rebound. Pershing Gold (PGLC), a development stage company, recently obtained more than $20 million in equity funding. These are small signs that people have faith in the future of gold. For Agnico, there is scope for reduction in cost of production, and it is important for the leverage to remain under control. The company expects a significant reduction in capital expenditure in 2013 and 2014, which may help in reducing the all-in costs. The costs are already lower than the industry average. Even at current levels, the dividend yield is very good. So if there are visible improvements on these metrics over the next few quarters, then Agnico may become a more preferred bet of some long term investors.
Agnico Eagle Mines LTD (AEM) gypsyfiat$30.12 UP 0.24 +0.80%
Volume: 731,116 @ 11:59:24 AM ET
Bid Ask Day's Range
- - 29.4 - 30.22
AEM Detailed Quote Wiki
Gold going to $7,000 in currency reset says author Jim Rickards -
http://www.arabianmoney.net/gold-silver/2013/07/25/gold-going-to-7000-in-currency-reset-says-author-jim-rickards/
http://www.earningsimpact.com/Transcript/82316/NEM/Q2-2013-Earnings-Call
http://www.biblebelievers.org.au/monie.htm
God Bless
The earnings were on expected lines as no one anticipated anything exceptional. The rise in production costs was a bit of a concern, but the guidance for the full year was maintained. Production guidance for 2013 is at 970,000 to 1,010,000 ounces of gold, and costs may be around $1100 per ounce. That will be an important metric to watch in the coming quarters. If gold rebounds, the low cost producers will be preferred at the time of stock picking. The costs for Agnico remain below the industry average. A seekingalpha article had mentioned that the average cost of production for gold is around $1211 per ounce, with some companies like Pershing Gold (PGLC), a development stage company, expected to have costs at much lower levels ($800-900). So Agnico has to keep the costs under control. The recent movement in gold has indicated that there is a some resilience, and the downward momentum is not that strong. There is still a lot of nervousness, and the probability of a bad scenario cannot be ruled out. However, if one considers that gold has already crashed significantly over the past many months, the probability of a sustained rebound looks higher. Further, the price is very close to the production costs, and hence going below that level will need something remarkably negative. Agnico has bounced by more than 10% from the recent lows. Gold has also bounced by 3%. If gold can rise about 4% from current levels, that may lead to stocks like Agnico crossing recent highs. That will make the outlook much better. Cost control and balanced leverage will be the main factors, and Agnico is not too bad on both fronts. The valuations may be relatively higher compared to peers, and that is another area of concern. Next week will be important.
Gold going to $7,000 in currency reset says author Jim Rickards -
Posted on 25 July 2013
Gold prices will surpass $7,000 an ounce in an inevitable global
currency reset forecast author of the new book Currency Wars:
The Making of the Next Global Crisis and MD of Tangent Capital,
said Jim Richards speaking at the Agora Financial Investment
Symposium in Vancouver yesterday.
Mr. Rickards recalled how the global currency system has been
reset three times in the past century: 1914, 1939 and 1971.
He noted that the dollar standard reigned from 1982 under
Paul Volcker's Fed to 2010.
Dollar in crisis
Now we are all at sea.
Nobody knows which currency to follow, he said.
Some economists argue that we should have multiple reserve
currencies but that is just too unstable.
His forecast is that the IMF will issue a new reserve currency
know as a Special Depository Receipt which it has actually
previously done in crisis situations in 1972, 1983 and 2009.
The US dollar could collapse much faster than you might think.
A complete collapse of confidence in the dollar is much closer
than ever.
But nobody knows exactly what the crucial threshold will be.
In order to reset the monetary system this time Mr. Rickards
argues that the gold reserves of the global central banks will
be absolutely essential with 20-40 per cent gold backing
sufficient.
That will mean a revaluing of bullion to around $7,000 an ounce
or otherwise there will not be enough of it to do the job.
Central banks will be in a position where they have to do this
rather than constantly suppress the gold price to create an
illusion of low inflation, he contends.
Timeline?
Where Mr. Rickards and the growing number of savants who argue in
favor of a reset are frustrating is that they can provide no
timeline.
Does this happen this autumn? Or in five years?
At what point do the remaining holders of US treasuries decide
that they want out?
That the point when $70 trillion in derivatives will crush the
banking system and the whole financial system will have to be
reset.
http://www.arabianmoney.net/gold-silver/2013/07/25/gold-going-to-7000-in-currency-reset-says-author-jim-rickards/
http://www.earningsimpact.com/Transcript/82316/NEM/Q2-2013-Earnings-Call
When Will The Economy Collapse?
http://www.youtube.com/watch?v=0tsUZinrCo8
I'm just waitin it out, expecting a run sooner or later...
Most gold stocks have fallen by more than 50% from the recent highs. Agnico is also down by 52% from the 52 week high made in November 2012. The recent bounce has taken it 10% higher with good volumes. The price action over the next few days will determine whether this is a technical bounce or the rebound will last longer. Stability in gold prices is the key to a sustained uptrend in the gold stocks. $1200 has provided support, but needs to be tested a couple of times before one can be confident. The recent leg of fall has been damaging as most stocks have corrected by 20-25%. The valuations are better, but Agnico is still trading at ~17.5 times forward earnings. The price to book is 1.26, which is higher than most stocks at this time. Still it is not too high. Several precious metal stocks are trading below book value now, and the development stage companies like Pershing Gold Corporation (PGLC) are trading at a discount to potential. Some notable investors are getting less negative on the sector. Jim Rogers had recently stated that he would start buying when gold touches $1300 and buy more if it touches $1200. Others are also expecting a rebound in gold due to expected devaluation of the currencies. Marc Faber had stated that a rebound in gold prices would lead to a much stronger price movement in the mining stock prices. Considering this, it is possible that the bottom may be around. Several analysts are negative, but the astute investors are getting more positive. Next few weeks will provide an indication of the near future. If the recent lows hold, then a new range may be established. That appears to be a good enough outcome if one takes into account the prevailing sentiments. Range bound movement will help in adding stability to the rocking boat.
Agnico Eagle Mines L (AEM)
31.63 ? 0.08 (0.25%)
Volume: 737,497 @ 11:46:29 AM ET
Embry on transfer of monetary metals and manufacturing to Asia
Submitted by cpowell on Wed, 2013-05-29 17:35. Section:
Daily Dispatches
10:30a PT Wednesday, May 29, 2013
Dear Friend of GATA and Gold:
Interviewed today by King World News, Sprott Asset Management's
John Embry discusses the transfer of gold and silver from West to East,
the misleading spin of economic data, and the movement of
manufacturing out of the United States and now even China.
An excerpt from the interview is posted at the King World
News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/5/29_Embry_-_Physical_Gold_%26_Silver_Now_In_Shocking_Short_Supply.html
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88436546
Your secretary/treasurer was interviewed Sunday about gold market
manipulation and GATA's work by Canadian journalist Bridgette Anderson
at Cambridge House's World Resource Investment Conference in Vancouver.
The interview is 10 minutes long and is posted at YouTube here:
Ouch... This is starting to hurt.
WOW check this story out http://wwww.thegreateststorynevertold.com/
Agnico-Eagle Provides Notice of Release for Fourth Quarter 2012 Results and Conference Call
Date : 01/15/2013 @ 5:57PM
Source : PR Newswire (Canada)
Stock : Agnico-Eagle Mines Limited (AEM)
Quote : 50.53 -0.04 (-0.08%) @ 3:08PM
Agnico-Eagle Provides Notice of Release for Fourth Quarter 2012 Results and Conference Call
Print
Alert
Agnico Eagle Mines (NYSE:AEM)
Historical Stock Chart
1 Month : From Dec 2012 to Jan 2013
http://ih.advfn.com/p.php?pid=nmona&article=55859173
http://www.agnico-eagle.com/English/Investor-Centre/PressReleases/Details/2013/Agnico-Eagle-Provides-Notice-of-Release-for-Fourth-Quarter-2012-Results-and-Conference-Call1132672/default.aspx
Stock Symbol: AEM (NYSE, TSX)
TORONTO, Jan. 15, 2013 /CNW/ - Agnico-Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico-Eagle" or the "Company") today announced that it will release its fourth quarter 2012 results on Wednesday, February 13, 2013, after normal trading hours.
The Company's senior management will host a conference call on Thursday, February 14, 2013 at 11:00 AM (E.S.T.) to discuss financial results and provide an update of the Company's activities.
Via Webcast:
A live audio webcast of the meeting will be available on the Company's website homepage at www.agnico-eagle.com.
Via Telephone:
For those preferring to listen by telephone, please dial 416-644-3414 or Toll-free 1-800-814-4859. To ensure your participation, please call approximately five minutes prior to the scheduled start of the call.
Replay archive:
Please dial 416-640-1917 or the Toll-free access number 1-877-289-8525, passcode 4568952#.
The conference call replay will expire on Thursday, March 14, 2013. The webcast along with presentation slides will be archived for 180 days on the website.
Agnico-Eagle's financial statements and operating results for the remainder of 2013 will be released as follows, after market close:
First Quarter 2013 - Thursday, April 25, 2013
Second Quarter 2013 - Wednesday, July 24, 2013
Third Quarter 2013 - Wednesday, October 23, 2013
The Annual General Meeting will be held on Friday, April 26, 2013 at 11:00 AM (E.D.T).
About Agnico-Eagle
Agnico-Eagle is a long established, Canadian headquartered, gold producer with operations located in Canada, Finland and Mexico, and exploration and development activities in Canada, Finland, Mexico and the United States. The Company has full exposure to higher gold prices consistent with its policy of no forward gold sales and maintains a corporate strategy based on increasing shareholders exposure to gold, on a per share basis. It has paid a cash dividend for 31 consecutive years. For more information on the Company please visit www.agnico-eagle.com
SOURCE Agnico-Eagle Mines Limited
Copyright 2013 Canada NewsWire
Agnico-Eagle Mines L (AEM)
50.53 ? -0.04 (-0.08%)
Volume: 1,034,208 @ 3:07:07 PM ET
Bid Ask Day's Range
- - 49.78 - 50.64
AEM Detailed Quote Wiki
Third quarter results next Wednesday over 5 million short I think we rocket Thursday
Agnico-Eagle Mines L (AEM)
52.5 ? -0.19 (-0.36%)
Volume: 437,758 @ 1:04:10 PM ET
Bid Ask Day's Range
- - 52.01 - 52.63
AEM Detailed Quote Wiki
Agnico-Eagle Mines L (AEM)
51.63 ? 0.22 (0.43%)
Volume: 1,783,438 @ 2:25:20 PM ET
Bid Ask Day's Range
- - 50.76 - 51.73
AEM Detailed Quote Wiki
Agnico-Eagle Mines L (AEM)
43.65 ? 0.14 (0.32%)
Volume: 2,457,654 @ 4:00:24 PM ET
Bid Ask Day's Range
- - 43.33 - 44.34
AEM Detailed Quote Wiki
Agnico-Eagle Mines L (AEM)
39.35 ? -0.82 (-2.04%)
Volume: 1,994,683 @ 6:28:17 PM ET
Bid Ask Day's Range
- - 38.94 - 40.52
AEM Detailed Quote Wiki
Agnico-Eagle Mines L (AEM)
35.39 ? 0.98 (2.85%)
Volume: 1,934,930 @ 11:57:56 AM ET
Bid Ask Day's Range
- - 34.11 - 35.64
AEM Detailed Quote Wiki
A Pleasant Surprise
Zenyatta Finds Graphite while Exploring Ontario for Nickel-Copper
By Greg Klein
On completing its December 2010 IPO of $9.9 million, Zenyatta Ventures TSXV:ZEN began 2011 with big ambitions. The company set out to explore its Albany Project in northern Ontario, which may sit on a structure related to the Mid-Continent Rift, home of a number of significant deposits around Lake Superior. Zenyatta hoped for a nickel-copper-polymetallic deposit comparable to the Norilsk Nickel mine in Siberia, Vale‘s Voisey’s Bay operation in Labrador or Rio Tinto‘s Eagle deposit in Michigan. So far, that goal has proved elusive. But what the Albany Project (aka Arc of Fire) drill results do show, says President/CEO Aubrey Eveleigh, might be equally compelling—the possibility of an exceptionally large deposit containing the exceptionally unusual occurrence of vein-type graphite.
Vein (or lump) graphite is the rarest, hence most expensive, type of natural graphite. At the other end of the scale, amorphous graphite is the type most commonly found and is widely used for steelmaking, auto parts, sports equipment and other applications. Flake graphite is essential to the emerging markets that include solar panels, fuel cells, pebble-bed nuclear reactors and the lithium-ion batteries that are becoming standard for electronic devices and electric vehicles. But little is spoken of vein graphite—likely because there’s so little to speak of.
Read the rest of this article. http://resourceclips.com/2012/03/26/a-pleasant-surprise/
Agnico-Eagle provides notice of release of first quarter 2012 results, conference
call and Annual General Meeting
TORONTO, March 26, 2012 /PRNewswire via COMTEX/ -- Stock Symbol: AEM (NYSE, TSX)
Agnico-Eagle Mines Limited ("Agnico-Eagle" or the "Company") today announced that
it will release its first quarter 2012 results on Thursday, April 26, 2012, after
normal trading hours. Additionally, the Company will host its Annual General
Meeting ("AGM") the next day in Toronto.
First Quarter 2012 Results Conference Call Webcast
The Company's senior management will host a conference call on Friday, April 27,
2012 at 8:30 AM (E.D.T.) to discuss financial results and provide an update of
the Company's development activities.
Via Webcast: A live audio webcast of the meeting will be available on the
Company's website homepage at http://www.agnico-eagle.com.
Via Telephone: For those preferring to listen by telephone, please dial
416-644-3414 or Toll-free 800-814-4859. To ensure your participation, please call
approximately five minutes prior to the scheduled start of the call.
Replay archive: Please dial 416-640-1917 or Toll-free 877-289-8525, access code
4507261#. The conference call replay will expire on May 27, 2012.
The webcast along with presentation slides will be archived for 180 days on the
website.
Annual General Meeting ("AGM")
The AGM will begin on Friday, April 27, 2012 at 11:00am (E.D.T). The meeting will
be held at The Westin Harbour Castle Hotel, Harbour Ballroom located at 1 Harbour
Square, Toronto, Canada, M5J 1A6.
During the meeting we will provide an overview of our first quarter operating and
financial results along with an update on our growth projects. For those unable
to attend in person, there are alternatives to participation listed below.
Via Webcast: A live audio webcast of the meeting will be available on the
Company's website homepage at http://www.agnico-eagle.com.
Via Telephone: For those preferring to listen by telephone, please dial
416-644-3416 or Toll-free 800-814-4860. To ensure your participation, please call
approximately five minutes prior to the scheduled start of the call.
Replay archive: Please dial 416-640-1917 or Toll-free 877-289-8525, access code
4509200#. The conference call replay will expire on May 27, 2012.
The webcast along with presentation slides will be archived for 180 days on the
website.
About Agnico-Eagle
Agnico-Eagle is a long established, Canadian headquartered, gold producer with
operations located in Canada, Finland and Mexico, and exploration and development
activities in Canada, Finland, Mexico and the United States. The Company has full
exposure to higher gold prices consistent with its policy of no forward gold
sales and maintains a corporate strategy based on increasing shareholders
exposure to gold, on a per share basis. It has paid a cash dividend for 30
consecutive years.
For more information on the Company please visit http://www.agnico-eagle.com
SOURCE Agnico-Eagle Mines Limited
Copyright (C) 2012 PR Newswire. All rights reserved
Mining's Last Frontier
Nunavut’s Cold, Remote and Potentially Very, Very Rich
By Greg Klein
Canadian explorers and miners operate in over 100 countries, but one of their last frontiers might be within our borders. Nunavut certainly holds potential but, at least for the present, it takes the financial resources of an Agnico Eagle TSX:AEM to bring subterranean resources to surface.
Even then the territory can prove a costly disappointment, as the company’s Meadowbank Gold Mine write-down shows. Last month came news of an even bigger disappointment, Newmont’s TSX:NMC $1.61-billion write-down of its Hope Bay Gold Project. Curiously, the failure was offset to some extent by an announcement made just yesterday. A privately held upstart, HTX Minerals, has formed a strategic alliance with an Inuit organization to explore the region encompassing Hope Bay.
Read the rest of this article. http://resourceclips.com/2012/03/06/minings-last-frontier/
Agnico-Eagle Mines Cut To Hold From Buy At GMP >AEM.T
Last Update: 2/27/2012 9:33:27 AM
Order free Annual Report for Agnico-Eagle Mines Limited
Visit http://djnewswires.ar.wilink.com/?link=AEM or call 1-888-301-0513
(END) Dow Jones Newswires (212-416-2400)
February 27, 2012 09:33 ET (14:33 GMT)
Agnico-Eagle Mines Limited (NYSE: AEM) was downgraded by investment analysts at CIBC from a “sector perform” rating to an “underperform” rating in a note issued to investors on Tuesday.
Separately, analysts at TheStreet downgraded shares of Agnico-Eagle Mines Limited to a “sell” rating in a research note to investors on Friday. Analysts at RBC Capital (NYSE: RY) cut their price target on shares of Agnico-Eagle Mines Limited from $66.00 to $43.00 in a research note to investors on Monday, February 13rd. They now have a “sector perform” rating on the stock. Also, analysts at Dundee downgraded shares of Agnico-Eagle Mines Limited from a “buy” rating to a “neutral” rating in a research note to investors on Monday, January 30th.
Agnico-Eagle Mines Limited (Agnico-Eagle) is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through four segments: Canada, Europe, Latin America and the United States. The Quebec Region includes the LaRonde Mine, the LaRonde Mine extension project, the Goldex Mine and the Lapa Mine. The Company’s operations in the European Region are conducted through its indirect subsidiary, Agnico-Eagle AB, which owns the Kittila Mine in Finland. The Company’s operations in the Latin American Region are conducted through its subsidiary, Agnico Eagle Mexico S.A. de C.V., which owns the Pinos Altos Mine and the Creston Mascota deposit. The Nunavut Region is comprised of the Meadowbank Mine, which is held directly by the Company. In July 2010, the Company acquired the remaining interest in Comaplex Minerals Corp.
Agnico-Eagle Mines Limited opened at 35.44 on Tuesday. Agnico-Eagle Mines Limited has a 1-year low of $31.42 and a 1-year high of $73.09. The stock has a 50-day moving average of $36.57 and a 200-day moving average of $49.23. The company’s market cap is $6.035 billion.
AEM earnings estimates keep getting slashed....
http://finance.yahoo.com/q/ae?s=AEM+Analyst+Estimates
Fire at will short and via puts IMO.
And if gold starts to crash, this POS will spiral down fast. Their biggest mine has a cash costs of over $1,000 per ounce.
Production for 2012 is forecasted (by them) down, cash cost per ounce up huge. Yet still, despite the crash, sports a huge valuation ontop of key executives quitting. AEM, IMO, is a stinkfest at this price.
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