Yahoo Finance Agnico Eagle Mines (AEM) Rises As Market Takes a Dip: Key Facts
The most recent trading session ended with Agnico Eagle Mines (AEM) standing at $63.84, reflecting a +0.58% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. Elsewhere, the Dow saw an upswing of 0.56%, while the tech-heavy Nasdaq depreciated by 2.05%.
Shares of the gold mining company witnessed a gain of 12.56% over the previous month, beating the performance of the Basic Materials sector with its loss of 0.32% and the S&P 500's loss of 2.57%.
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. The company's earnings per share (EPS) are projected to be $0.55, reflecting a 3.51% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.62 billion, up 7.44% from the prior-year quarter.
AEM's full-year Zacks Consensus Estimates are calling for earnings of $2.51 per share and revenue of $7.03 billion. These results would represent year-over-year changes of +12.56% and +6.01%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Agnico Eagle Mines. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 8.88% higher. Agnico Eagle Mines currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Agnico Eagle Mines is currently being traded at a Forward P/E ratio of 25.33. This valuation marks a premium compared to its industry's average Forward P/E of 19.35.
One should further note that AEM currently holds a PEG ratio of 0.95. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Gold industry currently had an average PEG ratio of 2.25 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 78, this industry ranks in the top 31% of all industries, numbering over 250.
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
