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Agnico Eagle Mines (AEM) Gains As Market Dips: What You Should Know
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Agnico Eagle Mines (AEM - Free Report) closed at $55.92 in the latest trading session, marking a +0.98% move from the prior day. This move outpaced the S&P 500's daily loss of 0.25%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Coming into today, shares of the gold mining company had gained 21.77% in the past month. In that same time, the Basic Materials sector lost 2.72%, while the S&P 500 gained 1.48%.
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. On that day, Agnico Eagle Mines is projected to report earnings of $0.34 per share, which would represent a year-over-year decline of 44.26%. Meanwhile, our latest consensus estimate is calling for revenue of $1.3 billion, down 1.91% from the prior-year quarter.
AEM's full-year Zacks Consensus Estimates are calling for earnings of $1.63 per share and revenue of $5.96 billion. These results would represent year-over-year changes of -29.13% and +3.74%, respectively.
Any recent changes to analyst estimates for Agnico Eagle Mines should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 7.39% lower. Agnico Eagle Mines currently has a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Agnico Eagle Mines currently has a Forward P/E ratio of 33.97. Its industry sports an average Forward P/E of 24.28, so we one might conclude that Agnico Eagle Mines is trading at a premium comparatively.
We can also see that AEM currently has a PEG ratio of 33.97. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 4.4 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Agnico Eagle Mines (AEM) Gains As Market Dips: What You Should Know
Agnico Eagle Mines (AEM - Free Report) closed at $55.92 in the latest trading session, marking a +0.98% move from the prior day. This move outpaced the S&P 500's daily loss of 0.25%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Coming into today, shares of the gold mining company had gained 21.77% in the past month. In that same time, the Basic Materials sector lost 2.72%, while the S&P 500 gained 1.48%.
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. On that day, Agnico Eagle Mines is projected to report earnings of $0.34 per share, which would represent a year-over-year decline of 44.26%. Meanwhile, our latest consensus estimate is calling for revenue of $1.3 billion, down 1.91% from the prior-year quarter.
AEM's full-year Zacks Consensus Estimates are calling for earnings of $1.63 per share and revenue of $5.96 billion. These results would represent year-over-year changes of -29.13% and +3.74%, respectively.
Any recent changes to analyst estimates for Agnico Eagle Mines should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 7.39% lower. Agnico Eagle Mines currently has a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Agnico Eagle Mines currently has a Forward P/E ratio of 33.97. Its industry sports an average Forward P/E of 24.28, so we one might conclude that Agnico Eagle Mines is trading at a premium comparatively.
We can also see that AEM currently has a PEG ratio of 33.97. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 4.4 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.