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Thursday, February 16, 2012

Agnico-Eagle Mines Limited (AEM) outlook 2012- 2013

Agnico-Eagle Mines Limited (AEM) outlook 2012- 2013 : Agnico-Eagle is pleased to announce that its Board of Directors has approved the payment of a quarterly cash dividend of $0.20 per common share. The next dividend will be paid on March 15, 2012 to shareholders of record as of March 1, 2012. Agnico-Eagle has now declared a cash dividend to its shareholders for 30 consecutive years.

We would draw your attention to the fact that they have managed to pay a dividend for last 30 years which is no mean achievement. Years ago a popular strategy was to buy and hold for the long term, thus riding out the peaks and troughs, confident that a quality investment would be worthwhile. However, today's investor may not have the patience to persevere with a poorly performing stock, as there are a great variety of other vehicles vying for each investors hard earned cash, such as ETFs, other producers, options trading, etc.

In 2012, Agnico-Eagle anticipates meeting its targets, increasing profitability and growing the shareholders' exposure to gold on a per share basis.

Three Year Plan Outlines Further Production Growth

  • The Company is announcing its production and cost guidance for the three-year period of 2012 through 2014.
  • In 2012, payable gold production is expected to be in the range of 875,000 ounces to 950,000 ounces. Total cash costs per ounce in 2012 are expected to be in the range of $690 to $750.
  • In 2013, Agnico-Eagle expects to have payable gold production of approximately 990,000 ounces, growing to 1,055,000 ounces in 2014. Total cash costs per ounce are expected to be at similar levels to those now forecast for 2012.
For now we will adopt a wait and see approach to this stock, should it show signs of recovery then we could become buyers once again. We would also need to see the gold bugs index, the HUI, spring to life and head north, it has been range bound between the 500 – 600 level for over a year now. In fact the HUI was trading at 500 in early 2008, so we could argue that this sector has done nothing for the last four years or so. To add some balance to the debate many of our peers are predicting a massive upward move in mining stocks, so maybe Agnico-Eagle Mines Limited will take part in the rally, when and if, it materializes.

Agnico-eagle Mines Limited has a market capitalization of $6.20Bln, a 52 week trading range of $31.42 - $76.49, a P/E ratio of 54.43 with EPS standing at 0.67 and closed today at $36.59. 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.

Our performance stats have now been updated as follows:

  • Our model portfolio is up 446.55% since inception
  • An annualized return of 98.38%
  • Average return per trade of 36.68%
  • 96 completed trades, 88 closed at a profit
  • A success rate of 91.67%
  • Average trade open for 50.48 days

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