In the latest trading session, Agnico Eagle Mines (AEM) closed at $122.65, marking a -1.02% move from the previous day. This move lagged the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.13%.
The gold mining company's shares have seen an increase of 10.07% over the last month, surpassing the Basic Materials sector's gain of 3.05% and the S&P 500's gain of 0.6%.
The upcoming earnings release of Agnico Eagle Mines will be of great interest to investors. The company is predicted to post an EPS of $1.45, indicating a 35.51% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $2.55 billion, reflecting a 22.94% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.03 per share and a revenue of $10.19 billion, signifying shifts of +42.55% and +23%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Agnico Eagle Mines. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Agnico Eagle Mines is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Agnico Eagle Mines is holding a Forward P/E ratio of 20.56. This signifies a premium in comparison to the average Forward P/E of 13.44 for its industry.
Meanwhile, AEM's PEG ratio is currently 1.08. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AEM's industry had an average PEG ratio of 0.65 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 51, this industry ranks in the top 21% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Agnico Eagle Mines Limited (AEM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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