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Here's Why Agnico Eagle Mines (AEM) Gained But Lagged the Market Today
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Agnico Eagle Mines (AEM - Free Report) ended the recent trading session at $79.82, demonstrating a +0.45% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.77% for the day. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq gained 0.87%.
Heading into today, shares of the gold mining company had lost 4.46% over the past month, lagging the Basic Materials sector's gain of 5.59% and the S&P 500's gain of 4.87% 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. The company is expected to report EPS of $0.96, up 118.18% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $1.83 billion, indicating a 11.17% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.88 per share and revenue of $7.98 billion, which would represent changes of +73.99% and +20.37%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Agnico Eagle Mines. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.5% higher. Right now, Agnico Eagle Mines possesses a Zacks Rank of #2 (Buy).
Looking at its valuation, Agnico Eagle Mines is holding a Forward P/E ratio of 20.46. This denotes a premium relative to the industry's average Forward P/E of 15.69.
It's also important to note that AEM currently trades at a PEG ratio of 0.73. 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 was holding an average PEG ratio of 0.81 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 48, this industry ranks in the top 20% of all industries, numbering over 250.
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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Here's Why Agnico Eagle Mines (AEM) Gained But Lagged the Market Today
Agnico Eagle Mines (AEM - Free Report) ended the recent trading session at $79.82, demonstrating a +0.45% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.77% for the day. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq gained 0.87%.
Heading into today, shares of the gold mining company had lost 4.46% over the past month, lagging the Basic Materials sector's gain of 5.59% and the S&P 500's gain of 4.87% 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. The company is expected to report EPS of $0.96, up 118.18% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $1.83 billion, indicating a 11.17% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.88 per share and revenue of $7.98 billion, which would represent changes of +73.99% and +20.37%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Agnico Eagle Mines. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.5% higher. Right now, Agnico Eagle Mines possesses a Zacks Rank of #2 (Buy).
Looking at its valuation, Agnico Eagle Mines is holding a Forward P/E ratio of 20.46. This denotes a premium relative to the industry's average Forward P/E of 15.69.
It's also important to note that AEM currently trades at a PEG ratio of 0.73. 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 was holding an average PEG ratio of 0.81 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 48, this industry ranks in the top 20% of all industries, numbering over 250.
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.