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Agnico Eagle Mines (AEM) Stock Moves -1.06%: What You Should Know
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In the latest market close, Agnico Eagle Mines (AEM - Free Report) reached $74.63, with a -1.06% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.
Prior to today's trading, shares of the gold mining company had gained 16.24% over the past month. This has outpaced the Basic Materials sector's loss of 1.83% and the S&P 500's gain of 1.79% 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. On that day, Agnico Eagle Mines is projected to report earnings of $0.87 per share, which would represent year-over-year growth of 33.85%. Our most recent consensus estimate is calling for quarterly revenue of $1.72 billion, up 0.05% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.42 per share and a revenue of $7.66 billion, demonstrating changes of +53.36% and +15.65%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Agnico Eagle Mines. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 last 30 days, the Zacks Consensus EPS estimate has moved 8.19% higher. Agnico Eagle Mines is currently sporting a Zacks Rank of #2 (Buy).
With respect to valuation, Agnico Eagle Mines is currently being traded at a Forward P/E ratio of 22.06. Its industry sports an average Forward P/E of 15.99, so one might conclude that Agnico Eagle Mines is trading at a premium comparatively.
One should further note that AEM currently holds a PEG ratio of 0.78. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Mining - Gold industry held an average PEG ratio of 0.77.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 35, positioning it in the top 14% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Stock Moves -1.06%: What You Should Know
In the latest market close, Agnico Eagle Mines (AEM - Free Report) reached $74.63, with a -1.06% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.
Prior to today's trading, shares of the gold mining company had gained 16.24% over the past month. This has outpaced the Basic Materials sector's loss of 1.83% and the S&P 500's gain of 1.79% 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. On that day, Agnico Eagle Mines is projected to report earnings of $0.87 per share, which would represent year-over-year growth of 33.85%. Our most recent consensus estimate is calling for quarterly revenue of $1.72 billion, up 0.05% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.42 per share and a revenue of $7.66 billion, demonstrating changes of +53.36% and +15.65%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Agnico Eagle Mines. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 last 30 days, the Zacks Consensus EPS estimate has moved 8.19% higher. Agnico Eagle Mines is currently sporting a Zacks Rank of #2 (Buy).
With respect to valuation, Agnico Eagle Mines is currently being traded at a Forward P/E ratio of 22.06. Its industry sports an average Forward P/E of 15.99, so one might conclude that Agnico Eagle Mines is trading at a premium comparatively.
One should further note that AEM currently holds a PEG ratio of 0.78. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Mining - Gold industry held an average PEG ratio of 0.77.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 35, positioning it in the top 14% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.