Yahoo Finance Agnico Eagle Mines (AEM) Gains As Market Dips: What You Should Know
The most recent trading session ended with Agnico Eagle Mines (AEM) standing at $63.47, reflecting a +1.57% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily loss of 0.22%. Elsewhere, the Dow gained 0.06%, while the tech-heavy Nasdaq lost 0.52%.
Heading into today, shares of the gold mining company had gained 11.75% over the past month, outpacing the Basic Materials sector's loss of 0.37% and the S&P 500's loss of 1.66% 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 April 25, 2024. It is anticipated that the company will report an EPS of $0.55, marking a 3.51% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.62 billion, up 7.44% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.51 per share and a revenue of $7.03 billion, indicating changes of +12.56% and +6.01%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Agnico Eagle Mines. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 10.18% increase. Agnico Eagle Mines is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Agnico Eagle Mines is currently trading at a Forward P/E ratio of 24.94. This represents a premium compared to its industry's average Forward P/E of 19.43.
Meanwhile, AEM's PEG ratio is currently 0.94. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Mining - Gold industry stood at 2.22 at the close of the market yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 65, finds itself in the top 26% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 Limited (AEM) : Free Stock Analysis Report
