Should You Buy the Stock Now?
Agnico Eagle Mines Limited AEM shares have surged 40% in the past six months. The upside has been fueled by an upswing in gold prices and AEM’s forecast-topping earnings performance on higher realized prices and strong production.
AEM has modestly underperformed the Zacks Mining – Gold industry’s 40.5% rise while outperforming the S&P 500’s increase of 3.9% over the past six months. Its gold mining peers, Barrick Mining Corporation B, Newmont Corporation NEM and Kinross Gold Corporation KGC, have rallied 31.4%, 37.6% and 49.5%, respectively, over the same period.
Image Source: Zacks Investment Research
Agnico Eagle has been trading above the 200-day simple moving average (SMA) since…
