We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Agnico Eagle Mines (AEM) Stock Falls Amid Market Uptick: What Investors Need to Know
Read MoreHide Full Article
In the latest trading session, Agnico Eagle Mines (AEM - Free Report) closed at $74.75, marking a -0.49% move from the previous day. This change lagged the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.53%, while the tech-heavy Nasdaq added 0.4%.
Heading into today, shares of the gold mining company had gained 16.92% over the past month, outpacing the Basic Materials sector's loss of 0.18% and the S&P 500's gain of 3.78% in that time.
Market participants will be closely following the financial results of Agnico Eagle Mines in its upcoming release. The company plans to announce its earnings on July 31, 2024. The company's earnings per share (EPS) are projected to be $0.81, reflecting a 24.62% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.72 billion, indicating a 0.05% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.16 per share and revenue of $7.65 billion, indicating changes of +41.7% and +15.49%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Agnico Eagle Mines. These revisions help to show the ever-changing nature of near-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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.2% lower. Right now, Agnico Eagle Mines possesses a Zacks Rank of #3 (Hold).
Investors should also note Agnico Eagle Mines's current valuation metrics, including its Forward P/E ratio of 23.78. This signifies a premium in comparison to the average Forward P/E of 16.84 for its industry.
Investors should also note that AEM has a PEG ratio of 0.83 right now. 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. The Mining - Gold industry had an average PEG ratio of 0.77 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 57, positioning it in the top 23% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Agnico Eagle Mines (AEM) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Agnico Eagle Mines (AEM - Free Report) closed at $74.75, marking a -0.49% move from the previous day. This change lagged the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.53%, while the tech-heavy Nasdaq added 0.4%.
Heading into today, shares of the gold mining company had gained 16.92% over the past month, outpacing the Basic Materials sector's loss of 0.18% and the S&P 500's gain of 3.78% in that time.
Market participants will be closely following the financial results of Agnico Eagle Mines in its upcoming release. The company plans to announce its earnings on July 31, 2024. The company's earnings per share (EPS) are projected to be $0.81, reflecting a 24.62% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.72 billion, indicating a 0.05% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.16 per share and revenue of $7.65 billion, indicating changes of +41.7% and +15.49%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Agnico Eagle Mines. These revisions help to show the ever-changing nature of near-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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.2% lower. Right now, Agnico Eagle Mines possesses a Zacks Rank of #3 (Hold).
Investors should also note Agnico Eagle Mines's current valuation metrics, including its Forward P/E ratio of 23.78. This signifies a premium in comparison to the average Forward P/E of 16.84 for its industry.
Investors should also note that AEM has a PEG ratio of 0.83 right now. 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. The Mining - Gold industry had an average PEG ratio of 0.77 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 57, positioning it in the top 23% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.