Agnico Eagle Mines (AEM - Free Report) shares soared 5.4% in the last trading session to close at $49.74. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.8% loss over the past four weeks.
AEM’s shares popped on upbeat prospects following the completion of the merger of equals transaction with Kirkland Lake Gold. The combination establishes the new Agnico Eagle as the industry's highest-quality senior gold producer, with the lowest unit costs, highest margins and most favorable risk profile. The merger also improves the financial flexibility to finance a strong pipeline of growth projects and creates opportunities to boost sustainable returns to shareholders, while maintaining a strong balance sheet.
This gold mining company is expected to post quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of -16.4%. Revenues are expected to be $932.93 million, up 0.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Agnico, the consensus EPS estimate for the quarter has been revised 14.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AEM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Agnico Eagle Mines (AEM - Free Report) shares soared 5.4% in the last trading session to close at $49.74. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.8% loss over the past four weeks.
AEM’s shares popped on upbeat prospects following the completion of the merger of equals transaction with Kirkland Lake Gold. The combination establishes the new Agnico Eagle as the industry's highest-quality senior gold producer, with the lowest unit costs, highest margins and most favorable risk profile. The merger also improves the financial flexibility to finance a strong pipeline of growth projects and creates opportunities to boost sustainable returns to shareholders, while maintaining a strong balance sheet.
This gold mining company is expected to post quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of -16.4%. Revenues are expected to be $932.93 million, up 0.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Agnico, the consensus EPS estimate for the quarter has been revised 14.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AEM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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