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Why Agnico Eagle Mines (AEM) Dipped More Than Broader Market Today
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Agnico Eagle Mines (AEM - Free Report) ended the recent trading session at $184.78, demonstrating a -5.77% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.28%.
Heading into today, shares of the gold mining company had lost 11.13% over the past month, lagging the Basic Materials sector's loss of 9.78% and the S&P 500's loss of 3.59%.
The investment community will be closely monitoring the performance of Agnico Eagle Mines in its forthcoming earnings report. It is anticipated that the company will report an EPS of $3.36, marking a 119.61% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.01 billion, up 62.4% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.28 per share and a revenue of $16.43 billion, signifying shifts of +60.39% and +37.96%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Agnico Eagle Mines. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.73% higher. Agnico Eagle Mines currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Agnico Eagle Mines is holding a Forward P/E ratio of 14.77. This indicates a premium in contrast to its industry's Forward P/E of 9.97.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 43, positioning it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Why Agnico Eagle Mines (AEM) Dipped More Than Broader Market Today
Agnico Eagle Mines (AEM - Free Report) ended the recent trading session at $184.78, demonstrating a -5.77% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.28%.
Heading into today, shares of the gold mining company had lost 11.13% over the past month, lagging the Basic Materials sector's loss of 9.78% and the S&P 500's loss of 3.59%.
The investment community will be closely monitoring the performance of Agnico Eagle Mines in its forthcoming earnings report. It is anticipated that the company will report an EPS of $3.36, marking a 119.61% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.01 billion, up 62.4% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.28 per share and a revenue of $16.43 billion, signifying shifts of +60.39% and +37.96%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Agnico Eagle Mines. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.73% higher. Agnico Eagle Mines currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Agnico Eagle Mines is holding a Forward P/E ratio of 14.77. This indicates a premium in contrast to its industry's Forward P/E of 9.97.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 43, positioning it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.