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Agnico Eagle Mines (AEM) Gains As Market Dips: What You Should Know
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Agnico Eagle Mines (AEM - Free Report) closed at $52.24 in the latest trading session, marking a +1.4% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Heading into today, shares of the gold mining company had gained 12.15% over the past month, outpacing the Basic Materials sector's loss of 2.06% and the S&P 500's gain of 0.07% in that time.
Agnico Eagle Mines will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. In that report, analysts expect Agnico Eagle Mines to post earnings of $0.34 per share. This would mark a year-over-year decline of 44.26%. Meanwhile, our latest consensus estimate is calling for revenue of $1.3 billion, down 1.91% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.63 per share and revenue of $5.96 billion, which would represent changes of -29.13% and +3.74%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Agnico Eagle Mines. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 10.83% lower. Agnico Eagle Mines currently has a Zacks Rank of #5 (Strong Sell).
Investors should also note Agnico Eagle Mines's current valuation metrics, including its Forward P/E ratio of 31.61. This valuation marks a premium compared to its industry's average Forward P/E of 20.79.
Meanwhile, AEM's PEG ratio is currently 31.61. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold was holding an average PEG ratio of 3.34 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AEM in the coming trading sessions, be sure to utilize Zacks.com.
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Agnico Eagle Mines (AEM) Gains As Market Dips: What You Should Know
Agnico Eagle Mines (AEM - Free Report) closed at $52.24 in the latest trading session, marking a +1.4% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Heading into today, shares of the gold mining company had gained 12.15% over the past month, outpacing the Basic Materials sector's loss of 2.06% and the S&P 500's gain of 0.07% in that time.
Agnico Eagle Mines will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. In that report, analysts expect Agnico Eagle Mines to post earnings of $0.34 per share. This would mark a year-over-year decline of 44.26%. Meanwhile, our latest consensus estimate is calling for revenue of $1.3 billion, down 1.91% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.63 per share and revenue of $5.96 billion, which would represent changes of -29.13% and +3.74%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Agnico Eagle Mines. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 10.83% lower. Agnico Eagle Mines currently has a Zacks Rank of #5 (Strong Sell).
Investors should also note Agnico Eagle Mines's current valuation metrics, including its Forward P/E ratio of 31.61. This valuation marks a premium compared to its industry's average Forward P/E of 20.79.
Meanwhile, AEM's PEG ratio is currently 31.61. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold was holding an average PEG ratio of 3.34 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AEM in the coming trading sessions, be sure to utilize Zacks.com.