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Agnico Eagle Mines (AEM) Gains As Market Dips: What You Should Know

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In the latest trading session, Agnico Eagle Mines (AEM - Free Report) closed at $50.26, marking a +1.6% move from the previous day. This move outpaced the S&P 500's daily loss of 1.65%. Meanwhile, the Dow lost 1.63%, and the Nasdaq, a tech-heavy index, lost 6.65%.

Prior to today's trading, shares of the gold mining company had gained 6.39% over the past month. This has outpaced the Basic Materials sector's loss of 2.51% and the S&P 500's gain of 0.3% 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 April 27, 2023. In that report, analysts expect Agnico Eagle Mines to post earnings of $0.39 per share. This would mark a year-over-year decline of 36.07%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.3 billion, down 1.91% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.76 per share and revenue of $6 billion. These totals would mark changes of -23.48% and +4.58%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Agnico Eagle Mines. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 19.27% lower. Agnico Eagle Mines currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Agnico Eagle Mines is currently trading at a Forward P/E ratio of 28.11. This valuation marks a premium compared to its industry's average Forward P/E of 18.73.

We can also see that AEM currently has a PEG ratio of 28.11. 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 3.08 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 151, which puts it in the bottom 41% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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