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Agnico Eagle Mines (AEM) Ascends But Remains Behind Market: Some Facts to Note
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Agnico Eagle Mines (AEM - Free Report) closed at $74.76 in the latest trading session, marking a +0.8% move from the prior day. This move lagged the S&P 500's daily gain of 1.08%. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.58%.
Prior to today's trading, shares of the gold mining company had gained 13.7% over the past month. This has outpaced the Basic Materials sector's loss of 1.57% and the S&P 500's gain of 0.43% 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 is forecasted to report an EPS of $0.86, showcasing a 32.31% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.72 billion, up 0.05% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.33 per share and revenue of $7.65 billion. These totals would mark changes of +49.33% and +15.49%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Agnico Eagle Mines. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 5.46% higher. Agnico Eagle Mines is currently sporting a Zacks Rank of #2 (Buy).
In the context of valuation, Agnico Eagle Mines is at present trading with a Forward P/E ratio of 22.27. This denotes a premium relative to the industry's average Forward P/E of 16.14.
We can also see that AEM currently has a PEG ratio of 0.79. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. AEM's industry had an average PEG ratio of 0.77 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Agnico Eagle Mines (AEM) Ascends But Remains Behind Market: Some Facts to Note
Agnico Eagle Mines (AEM - Free Report) closed at $74.76 in the latest trading session, marking a +0.8% move from the prior day. This move lagged the S&P 500's daily gain of 1.08%. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.58%.
Prior to today's trading, shares of the gold mining company had gained 13.7% over the past month. This has outpaced the Basic Materials sector's loss of 1.57% and the S&P 500's gain of 0.43% 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 is forecasted to report an EPS of $0.86, showcasing a 32.31% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.72 billion, up 0.05% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.33 per share and revenue of $7.65 billion. These totals would mark changes of +49.33% and +15.49%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Agnico Eagle Mines. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 5.46% higher. Agnico Eagle Mines is currently sporting a Zacks Rank of #2 (Buy).
In the context of valuation, Agnico Eagle Mines is at present trading with a Forward P/E ratio of 22.27. This denotes a premium relative to the industry's average Forward P/E of 16.14.
We can also see that AEM currently has a PEG ratio of 0.79. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. AEM's industry had an average PEG ratio of 0.77 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.