Agnico Eagle Mines Ltd (AEM): Today's Featured Basic Materials Winner

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Agnico Eagle Mines ( AEM) pushed the Basic Materials sector higher today making it today's featured basic materials winner. The sector as a whole closed the day up 0.3%. By the end of trading, Agnico Eagle Mines rose $1.65 (5.1%) to $33.96 on heavy volume. Throughout the day, 3,409,677 shares of Agnico Eagle Mines exchanged hands as compared to its average daily volume of 2,230,400 shares. The stock ranged in a price between $32.82-$34.50 after having opened the day at $33.08 as compared to the previous trading day's close of $32.31. Other companies within the Basic Materials sector that increased today were: Augusta Resource Corporation ( AZC), up 29.4%, Banro Corporation ( BAA), up 14.5%, Almaden Minerals ( AAU), up 14.5% and Exeter Resource Corporation ( XRA), up 13.2%.

Agnico-Eagle Mines Limited, through its subsidiaries, engages in the exploration, development, and production of mineral properties in Canada, Finland, and Mexico. It primarily explores for gold, as well as silver, copper, zinc, and lead. Agnico Eagle Mines has a market cap of $5.4 billion and is part of the metals & mining industry. Shares are up 22.5% year to date as of the close of trading on Friday. Currently there are 7 analysts that rate Agnico Eagle Mines a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Agnico Eagle Mines as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income and weak operating cash flow.

On the negative front, Boardwalk Pipeline Partners ( BWP), down 46.0%, Timberline Resources Corporation ( TLR), down 21.4%, Pedevco ( PED), down 11.1% and North American Palladium ( PAL), down 7.7% , were all laggards within the basic materials sector with Marathon Petroleum ( MPC) being today's basic materials sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider Materials Select Sector SPDR ( XLB) while those bearish on the basic materials sector could consider ProShares Short Basic Materials Fd ( SBM).

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