Is AEM Stock a Screaming Buy After the 50% YTD Price Rally?
Agnico Eagle Mines Limited’s AEM shares have popped 50% this year. While AEM has underperformed the Zacks Mining – Gold industry’s rise of 62.2%, it has topped the S&P 500’s decline of 4.4%. The rally has been driven by a spike in gold prices and AEM’s forecast-topping earnings performance on higher realized prices and strong production.
AEM’s gold mining peers, Barrick Mining Corporation B, Newmont Corporation NEM and Kinross Gold Corporation KGC, have rallied 25.5%, 45% and 62.5%, respectively, over the same period.
Barrick’s rally has been supported by its strong financial performance, efforts to expand production and the progress of…
