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Upgrade Alert for Agnico-Eagle Mines (AEM)

By Amy Schwartz

Agnico-Eagle Mines (NYSE:AEM) was upgraded from Market Perform to Outperform at Raymond James today. The stock closed yesterday at $49.60 on volume of 1.6 million shares, below average daily volume of 2.5 million.

Agnico-Eagle Mines (NYSE:AEM) is currently priced 32.3% 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.

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.

Over the past year, Agnico-Eagle Mines has traded in a range of $21.00 to $60.10 and closed yesterday at $49.59, 136% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.2% while the 200-day MA has risen 1.4%.

SmarTrend is monitoring the recent change of momentum in Agnico-Eagle Mines. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Agnico-Eagle Mines in search of a potential trend change.

Keywords: analyst upgrades/downgrades agnico-eagle mines

Ticker(s): AEM