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Agnico Eagle Mines (AEM) Gains But Lags Market: What You Should Know
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Agnico Eagle Mines (AEM - Free Report) closed at $52.79 in the latest trading session, marking a +0.67% move from the prior day. This change lagged the S&P 500's 1.29% gain on the day. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, lost 4.94%.
Prior to today's trading, shares of the gold mining company had lost 4.15% over the past month. This has lagged the Basic Materials sector's gain of 3.27% and the S&P 500's gain of 5.64% in that time.
Wall Street will be looking for positivity from Agnico Eagle Mines as it approaches its next earnings report date. This is expected to be February 16, 2023. On that day, Agnico Eagle Mines is projected to report earnings of $0.39 per share, which would represent a year-over-year decline of 15.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.42 billion, up 49.97% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Agnico Eagle Mines. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.29% higher. Agnico Eagle Mines is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Agnico Eagle Mines has a Forward P/E ratio of 24.97 right now. Its industry sports an average Forward P/E of 20.17, so we one might conclude that Agnico Eagle Mines is trading at a premium comparatively.
Investors should also note that AEM has a PEG ratio of 24.97 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 3.8 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Agnico Eagle Mines (AEM) Gains But Lags Market: What You Should Know
Agnico Eagle Mines (AEM - Free Report) closed at $52.79 in the latest trading session, marking a +0.67% move from the prior day. This change lagged the S&P 500's 1.29% gain on the day. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, lost 4.94%.
Prior to today's trading, shares of the gold mining company had lost 4.15% over the past month. This has lagged the Basic Materials sector's gain of 3.27% and the S&P 500's gain of 5.64% in that time.
Wall Street will be looking for positivity from Agnico Eagle Mines as it approaches its next earnings report date. This is expected to be February 16, 2023. On that day, Agnico Eagle Mines is projected to report earnings of $0.39 per share, which would represent a year-over-year decline of 15.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.42 billion, up 49.97% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Agnico Eagle Mines. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.29% higher. Agnico Eagle Mines is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Agnico Eagle Mines has a Forward P/E ratio of 24.97 right now. Its industry sports an average Forward P/E of 20.17, so we one might conclude that Agnico Eagle Mines is trading at a premium comparatively.
Investors should also note that AEM has a PEG ratio of 24.97 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 3.8 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.