Agnico Eagle Mines (AEM) closed the most recent trading day at $89.23, moving +0.71% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.61% for the day. Meanwhile, the Dow experienced a rise of 0.3%, and the technology-dominated Nasdaq saw an increase of 1.28%.

The the stock of gold mining company has risen by 12.54% in the past month, leading the Basic Materials sector's gain of 2.33% and the S&P 500's gain of 2.08%.

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 February 13, 2025. In that report, analysts expect Agnico Eagle Mines to post earnings of $1.14 per share. This would mark year-over-year growth of 100%. In the meantime, our current consensus estimate forecasts the revenue to be $2.1 billion, indicating a 19.39% growth compared to the corresponding quarter of the prior year.

It is also important to note the recent changes to analyst estimates for Agnico Eagle Mines. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.11% lower. At present, Agnico Eagle Mines boasts a Zacks Rank of #3 (Hold).

In terms of valuation, Agnico Eagle Mines is currently trading at a Forward P/E ratio of 18.76. This valuation marks a premium compared to its industry's average Forward P/E of 9.98.

It is also worth noting that AEM currently has a PEG ratio of 0.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Mining - Gold was holding an average PEG ratio of 0.59 at yesterday's closing price.

The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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