Weakness Seen in Agnico Eagle Mines (AEM)

Can AEM Make a Comeback?

AEM saw a a big drop in their shares last session when they fell 9.0% by the end of the day. This led to many shares being traded faster than normal. This continues the downtrend for AEM with their stock down 17.3% in the past month.

While this down-turn was very disappointing for the company, AEM has seen 4 positive revisions and their current earning have gone up over the last few weeks. This makes many believe that the recent downturn will only be temporary. We would advise you to keep your eye on AEM stock in the near future to see if the decline is confirmed by more weakness, or if it can make a turn around.

Some better ranked stocks would include AngloGold, Ashanti Ltd., Lake Shore Gold Corp and Rangold Resources Limited. Each of these companies has a Zachs Rank #1 (Strong Buy, while AEM currently holds a Zachs Rank #3.