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« US Sub-Prime Problems Surface Down Under! | Main | Gordon Brown: Breaking The Back Of Inflation? »
Thursday
Jan102008

Agnico Eagle: Up 100% in 18 Months Since Our BUY


“You should never fall in love with a stock but this is one of our favourites. We first bought this stock in 1982, and have traded it ever since then.”


Agnico Eagle: Up 100% in 18 Months Since Our BUY

We said that when we first started this website and newsletter, over a year and a half ago and it still applies to this day. Agnico Eagle continues to be one of the best run mid cap gold stocks, although getting larger by the day, with a market cap now at $8.25 billion.

When we began this website on gold, Agnico Eagle was one of the first stocks we wrote about, when it was trading at around $30. AEM now stands high and mighty at over $60, an increase of over 100% in 18 months. Back then AEM was below $30, we described the stock as having “minimal risk” but the upside being “potentially explosive”. The stock has certainly lived up to our expectations and the strategy of “buy and hold” has worked well through the ups and downs. The prices did move sideways for a while but we held on as we knew that when the next leg of the gold bull market began, AEM shareholders would reap the rewards.

We still like Agnico Eagle for the long term and we will continue to hold shares in the company. However we are not buyers at this exact point, as we feel AEM appears to be a tad overbought at the moment, but in the longer term Agnico Eagle is heading much, much higher and we think it could double yet again from this point.

To stay updated on the progress of Agnico Eagle and other gold stocks, as well as the gold market in general, subscribe to The Gold Prices Newsletter FREE of charge, simply click here and enter your email address.

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