Gary Bourgeault
Long only, research analyst, portfolio strategy, media

Agnico-Eagle: Trying To Soar While Facing Strong Headwinds

Agnico Eagle Mines (NYSE:AEM) has been known for its more aggressive way of doing business, although within a disciplined spending approach. It has been trying to rally since June 26, 2013, but it has met some resistance after climbing from around $25 a share (a 52-week low) to over $29.00 a share on July 11.

It appears investors believed the miner may have found a bottom and pushed the share price up as gold prices have recently been incrementally climbing. Unsurprisingly it's pulling back again, as gold continues to fluctuate and uncertainty continues as to whether or not it can break through $1,300 an ounce mark.

I believe if gold does find support around $1,300 it's going to...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details