No need to lay out the fundamentals for Agnico-Eagle Mines (AEM). They were intact years ago when I first valued them and the case for their continued favorable valuation still remains high. Instead, let me point you to a few articles from the man who really knows his Gold and GSMs, Christopher Barker (TMFSinchiruna)
-- Enjoy the View From Gold Mountain
-- Agnico Braves the Cold for Gold
-- Our Little Eaglet Is All Grown Up
-- Agnico-Eagle Will Shine in '09
But what I am more interested in focusing on here are the technicals. And I think they are still *very* favorable for AEM. Of course, this presupposes you are bullish on gold as well (and I obviously am).
I think we have a large bullish ascending triangle in the making and getting close to completion (both a sym-tri and an ascending-tri are continuation patterns, but the ascending tri is marked by a top line that is down-sloping/nearly horizontal with a bottom support line that is clearly uptrending). And as the notes on the charts suggest, there is still a lot of upside potential.
(Disclosure: I am long AEM)
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9 months ago