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Upgrade Alert for Agnico-Eagle Mines (AEM)

By Amy Schwartz

Agnico-Eagle Mines (NYSE:AEM) was upgraded from Hold to Buy at Desjardins today. The stock closed yesterday at $56.81 on volume of 2.2 million shares, below average daily volume of 2.5 million.

Agnico-Eagle Mines share prices have moved between a 52-week high of $56.50 and a 52-week low of $21.00 and closed yesterday at 171% above that low price at $56.81 per share. Over the past week, the 200-day moving average (MA) has gone up 1.4% while the 50-day MA has advanced 2.2%.

Agnico-Eagle Mines Limited is a gold producer with operations primarily in Quebec, Canada. The Company also conducts exploration and development activities in Ontario, Canada, and Nevada in the United States. Agnico-Eagle's gold production is primarily from underground mining operations.

Agnico-Eagle Mines (NYSE:AEM) is currently priced 40.9% above its average consensus analyst price target of $33.58. Agnico-Eagle Mines shares have support at the 50-day moving average (MA) of $38.38 and additional support at the 200-day MA of $29.76.

SmarTrend recommended that subscribers consider buying shares of Agnico-Eagle Mines on January 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.51. Since that recommendation, shares of Agnico-Eagle Mines have risen 84.0%. We continue to monitor AEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades agnico-eagle mines

Ticker(s): AEM