In the latest market close, Agnico Eagle Mines (AEM) reached $84.18, with a -0.19% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.21% for the day. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, lost 0.89%.
The gold mining company's stock has climbed by 8.46% in the past month, exceeding the Basic Materials sector's loss of 5.13% and the S&P 500's loss of 1.56%.
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. It is anticipated that the company will report an EPS of $1.14, marking a 100% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.1 billion, indicating a 19.39% increase compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Agnico Eagle Mines. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, 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 witnessed a 0.93% decrease. Currently, Agnico Eagle Mines is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Agnico Eagle Mines has a Forward P/E ratio of 17.83 right now. This valuation marks a premium compared to its industry's average Forward P/E of 9.66.
Meanwhile, AEM's PEG ratio is currently 0.56. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Mining - Gold stocks are, on average, holding a PEG ratio of 0.51 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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