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Agnico Eagle Mines (AEM) Advances While Market Declines: Some Information for Investors
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Agnico Eagle Mines (AEM - Free Report) closed the latest trading day at $86.63, indicating a +0.53% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.18%. Meanwhile, the Dow experienced a drop of 0.8%, and the technology-dominated Nasdaq saw an increase of 0.27%.
The gold mining company's stock has climbed by 3.66% in the past month, falling short of the Basic Materials sector's gain of 8.45% and the S&P 500's gain of 4.46%.
The investment community will be paying close attention to the earnings performance of Agnico Eagle Mines in its upcoming release. The company is slated to reveal its earnings on October 30, 2024. The company's upcoming EPS is projected at $0.96, signifying a 118.18% increase compared to the same quarter of the previous year. 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.88 per share and revenue of $7.98 billion. These totals would mark changes of +73.99% and +20.37%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Agnico Eagle Mines. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.06% higher. Agnico Eagle Mines is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Agnico Eagle Mines is currently trading at a Forward P/E ratio of 22.18. This indicates a premium in contrast to its industry's Forward P/E of 16.04.
One should further note that AEM currently holds a PEG ratio of 0.79. 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. As of the close of trade yesterday, the Mining - Gold industry held an average PEG ratio of 0.88.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 17, which puts it in the top 7% 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.
To follow AEM in the coming trading sessions, be sure to utilize Zacks.com.
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Agnico Eagle Mines (AEM) Advances While Market Declines: Some Information for Investors
Agnico Eagle Mines (AEM - Free Report) closed the latest trading day at $86.63, indicating a +0.53% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.18%. Meanwhile, the Dow experienced a drop of 0.8%, and the technology-dominated Nasdaq saw an increase of 0.27%.
The gold mining company's stock has climbed by 3.66% in the past month, falling short of the Basic Materials sector's gain of 8.45% and the S&P 500's gain of 4.46%.
The investment community will be paying close attention to the earnings performance of Agnico Eagle Mines in its upcoming release. The company is slated to reveal its earnings on October 30, 2024. The company's upcoming EPS is projected at $0.96, signifying a 118.18% increase compared to the same quarter of the previous year. 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.88 per share and revenue of $7.98 billion. These totals would mark changes of +73.99% and +20.37%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Agnico Eagle Mines. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.06% higher. Agnico Eagle Mines is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Agnico Eagle Mines is currently trading at a Forward P/E ratio of 22.18. This indicates a premium in contrast to its industry's Forward P/E of 16.04.
One should further note that AEM currently holds a PEG ratio of 0.79. 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. As of the close of trade yesterday, the Mining - Gold industry held an average PEG ratio of 0.88.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 17, which puts it in the top 7% 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.
To follow AEM in the coming trading sessions, be sure to utilize Zacks.com.