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Agnico Eagle Mines (AEM) Outpaces Stock Market Gains: What You Should Know
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In the latest close session, Agnico Eagle Mines (AEM - Free Report) was up +2.97% at $201.37. The stock outpaced the S&P 500's daily gain of 1.14%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.69%.
Prior to today's trading, shares of the gold mining company had lost 5.85% lagged the Basic Materials sector's loss of 1.36% and the S&P 500's loss of 2.85%.
The investment community will be paying close attention to the earnings performance of Agnico Eagle Mines in its upcoming release. The company's earnings per share (EPS) are projected to be $2.45, reflecting a 13.43% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.53 billion, up 15.49% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $11.58 per share and revenue of $15.09 billion, indicating changes of +39.86% and +26.72%, respectively, compared to the previous year.
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. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 0.17% higher. Currently, Agnico Eagle Mines is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Agnico Eagle Mines is currently exchanging hands at a Forward P/E ratio of 17.01. For comparison, its industry has an average Forward P/E of 12.52, which means Agnico Eagle Mines is trading at a premium to the group.
We can also see that AEM currently has a PEG ratio of 2.44. 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. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.94.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 205, placing it within the bottom 17% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Agnico Eagle Mines (AEM) Outpaces Stock Market Gains: What You Should Know
In the latest close session, Agnico Eagle Mines (AEM - Free Report) was up +2.97% at $201.37. The stock outpaced the S&P 500's daily gain of 1.14%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.69%.
Prior to today's trading, shares of the gold mining company had lost 5.85% lagged the Basic Materials sector's loss of 1.36% and the S&P 500's loss of 2.85%.
The investment community will be paying close attention to the earnings performance of Agnico Eagle Mines in its upcoming release. The company's earnings per share (EPS) are projected to be $2.45, reflecting a 13.43% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.53 billion, up 15.49% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $11.58 per share and revenue of $15.09 billion, indicating changes of +39.86% and +26.72%, respectively, compared to the previous year.
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. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 0.17% higher. Currently, Agnico Eagle Mines is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Agnico Eagle Mines is currently exchanging hands at a Forward P/E ratio of 17.01. For comparison, its industry has an average Forward P/E of 12.52, which means Agnico Eagle Mines is trading at a premium to the group.
We can also see that AEM currently has a PEG ratio of 2.44. 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. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.94.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 205, placing it within the bottom 17% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.