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Saturday
Feb202010
Agnico-Eagle Mines Limited All Set for Blast Off
Saturday, February 20, 2010 at 04:38PM
Agnico-Eagle Mines' (AEM) third quarter results disappointed the Street. Do its fourth quarter results show that the company is back on track and able to deliver on its ambitious growth plans? BNN speaks to Sean Boyd, CEO, Agnico-Eagle Mines.
Please watch this, its only 11 minutes but it is very positive and upbeat as you would expect from the CEO, even so, this stock is going places and we wont be surprised to see it trade at $100.00 per share when gold takes out its previous historic high, please click here.
Agnico-Eagle Mines Limited trades on the NYSE under the ticker symbol of AEM and on the Toronto Stock Exchange under the symbol of AEM.TO.
The company has a market capitalization of $9.43 billion, a 52 week price range of $42.65 to $74.00 and a P/E ratio of 155 on an average volume of 3m to 5m shares traded.
All the best.
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Reader Comments (9)
I have checking my bear strategy after market closed on friday, and i am seeing that in march we can have a market-crash type of selling, like in 2008 in gold. Seasonality is good for a break below 1000 and bottom at around 840.
We have to be careful when we fall in love.....you say AEM has a P/E ratio of 155, while G is 23, K is 42, NEM is 30.
What am I missing?
Del
Del,
You are bang on that P/E is a bit of a worry and it has been a lot higher, making these things nonsensicle, but we do take the point.
Di,
As you know we are looking for a new record high and not a re-test of $1000/oz, so time will tell.
Perhaps it is time to revisit the AEM May 60 calls? They are again under $3.00.
Comments?
Just sold the AEM calls. Bought the 55/60 vertical call spread for $2 and just sold for $3.
Perhaps I sold too soon, but 50% was my target when I put on the trade.
Mark,
You have set a target and had the discipline to stick to it and you made a profit - well done, you cant ask for more.
Gold is sort of looking range bound between about 1050 and 1150. I wonder for how much longer. I do not want to buy puts at 1150+ and bet on a drop. But if it falls back to between 1000 and 1050, I will again look to pick up some more calls.
BC,
The Call Options on Agnico-Eagle are up slightly today at about $5.00, so they are showing a small profit, we will wait and watch for now.