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Agnico Eagle Mines (AEM) Rises As Market Takes a Dip: Key Facts
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Agnico Eagle Mines (AEM - Free Report) ended the recent trading session at $81.85, demonstrating a +1.6% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.93%. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, lost 1.53%.
Prior to today's trading, shares of the gold mining company had lost 1.12% over the past month. This has lagged the Basic Materials sector's gain of 4.73% and the S&P 500's gain of 2.17% 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 October 30, 2024. It is anticipated that the company will report an EPS of $0.92, marking a 109.09% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.83 billion, showing a 11.17% escalation compared to the year-ago quarter.
AEM's full-year Zacks Consensus Estimates are calling for earnings of $3.80 per share and revenue of $7.9 billion. These results would represent year-over-year changes of +70.4% and +19.23%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Agnico Eagle Mines. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Within the past 30 days, our consensus EPS projection has moved 4.23% higher. Agnico Eagle Mines is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Agnico Eagle Mines is currently being traded at a Forward P/E ratio of 21.2. This signifies a premium in comparison to the average Forward P/E of 15.69 for its industry.
Meanwhile, AEM's PEG ratio is currently 0.75. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.65.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Agnico Eagle Mines (AEM) Rises As Market Takes a Dip: Key Facts
Agnico Eagle Mines (AEM - Free Report) ended the recent trading session at $81.85, demonstrating a +1.6% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.93%. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, lost 1.53%.
Prior to today's trading, shares of the gold mining company had lost 1.12% over the past month. This has lagged the Basic Materials sector's gain of 4.73% and the S&P 500's gain of 2.17% 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 October 30, 2024. It is anticipated that the company will report an EPS of $0.92, marking a 109.09% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.83 billion, showing a 11.17% escalation compared to the year-ago quarter.
AEM's full-year Zacks Consensus Estimates are calling for earnings of $3.80 per share and revenue of $7.9 billion. These results would represent year-over-year changes of +70.4% and +19.23%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Agnico Eagle Mines. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Within the past 30 days, our consensus EPS projection has moved 4.23% higher. Agnico Eagle Mines is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Agnico Eagle Mines is currently being traded at a Forward P/E ratio of 21.2. This signifies a premium in comparison to the average Forward P/E of 15.69 for its industry.
Meanwhile, AEM's PEG ratio is currently 0.75. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.65.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.