We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Agnico Eagle (AEM) to Post Q4 Earnings: Is a Beat in Store?
Read MoreHide Full Article
Agnico Eagle Mines Limited (AEM - Free Report) is scheduled to report fourth-quarter 2019 results on Feb 13, after the closing bell.
Agnico Eagle has trailing four-quarter positive earnings surprise history of 245.9%, on an average. The benefits of higher production and increased gold prices on a year-over-year basis are likely to get reflected in Agnico Eagle’s fourth-quarter performance.
The stock has rallied 40.9% in the past year compared with the industry’s 37.1% surge.
Let’s see how things are shaping up for the upcoming announcement.
What the Zacks Model Says
Our proven model predicts an earnings beat for Agnico Eagle this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earning beat. That is the case here, as you will see below:
Earnings ESP: Agnico Eagle has an Earnings ESP of +0.47%. The Most Accurate Estimate and the Zacks Consensus Estimate are currently pegged at 36 cents and 35 cents, respectively. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Agnico Eagle currently carries a Zacks Rank #3.
What to Expect
The Zacks Consensus Estimate for Agnico Eagle’s fourth-quarter gold production is currently pegged at 485,000 ounces, which suggests a sequential rise of 1.7%.
In October 2019, the company revised its production guidance for 2019. Gold production for 2019 is projected in the band of 1.77-1.78 million ounces compared with 1.75 million ounces projected earlier. Notably, the projection includes pre-commercial production from Meliadine and Amaruq.
Agnico Eagle’s fourth-quarter performance is likely to have benefited from higher production at Meliadine. The company is ramping production at Meliadine. In third-quarter 2019, the company realized its first full-quarterly commercial production at Meliadine. The mine produced 3,300 tons per day through the middle of October 2019. The company expects mining rates in the range of 3,600-3,700 tons per day at Meliadine for the fourth quarter.
The Amaruq satellite deposit at the Meadowbank Complex has achieved commercial production on Sep 30, 2019. Operations are continuing to ramp up at the site and production at the Meadowbank Complex for 2019 is expected to be around 200,000 ounces of gold (including the pre-commercial production).
Moreover, Agnico Eagle’s production at Pinos Altos is expected to have improved in the fourth quarter. The company’s fourth-quarter performance is also expected to reflect strong production and throughput at Kittila, LaRonde Complex, Goldex and Canadian Malartic.
Other Factors at Play in Q4
Additionally, the company is expected to have benefited from higher gold prices in the fourth quarter. Uncertainties regarding the U.S.-China trade war, rate cuts by the U.S. Federal Reserve, global downturn concerns and tensions in the Middle East are some factors that have supported gold prices in 2019. As such, the benefits of higher year-over-year gold prices are expected to have been tailwinds for the company.
Here are other companies in the basic materials space you may want to consider as our model shows that they have the right combination of elements to post an earnings beat this quarter:
Cleveland-Cliffs Inc. (CLF - Free Report) , scheduled to release fourth-quarter 2019 earnings on Feb 20, has an Earnings ESP of +29.17% and carries a Zacks Rank #3.
AK Steel Holding Corporation , scheduled to release fourth-quarter 2019 earnings on Feb 20, has an Earnings ESP of +11.11% and carries a Zacks Rank #3.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Image: Bigstock
Agnico Eagle (AEM) to Post Q4 Earnings: Is a Beat in Store?
Agnico Eagle Mines Limited (AEM - Free Report) is scheduled to report fourth-quarter 2019 results on Feb 13, after the closing bell.
Agnico Eagle has trailing four-quarter positive earnings surprise history of 245.9%, on an average. The benefits of higher production and increased gold prices on a year-over-year basis are likely to get reflected in Agnico Eagle’s fourth-quarter performance.
The stock has rallied 40.9% in the past year compared with the industry’s 37.1% surge.
Let’s see how things are shaping up for the upcoming announcement.
What the Zacks Model Says
Our proven model predicts an earnings beat for Agnico Eagle this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earning beat. That is the case here, as you will see below:
Earnings ESP: Agnico Eagle has an Earnings ESP of +0.47%. The Most Accurate Estimate and the Zacks Consensus Estimate are currently pegged at 36 cents and 35 cents, respectively. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Agnico Eagle currently carries a Zacks Rank #3.
What to Expect
The Zacks Consensus Estimate for Agnico Eagle’s fourth-quarter gold production is currently pegged at 485,000 ounces, which suggests a sequential rise of 1.7%.
In October 2019, the company revised its production guidance for 2019. Gold production for 2019 is projected in the band of 1.77-1.78 million ounces compared with 1.75 million ounces projected earlier. Notably, the projection includes pre-commercial production from Meliadine and Amaruq.
Agnico Eagle’s fourth-quarter performance is likely to have benefited from higher production at Meliadine. The company is ramping production at Meliadine. In third-quarter 2019, the company realized its first full-quarterly commercial production at Meliadine. The mine produced 3,300 tons per day through the middle of October 2019. The company expects mining rates in the range of 3,600-3,700 tons per day at Meliadine for the fourth quarter.
The Amaruq satellite deposit at the Meadowbank Complex has achieved commercial production on Sep 30, 2019. Operations are continuing to ramp up at the site and production at the Meadowbank Complex for 2019 is expected to be around 200,000 ounces of gold (including the pre-commercial production).
Moreover, Agnico Eagle’s production at Pinos Altos is expected to have improved in the fourth quarter. The company’s fourth-quarter performance is also expected to reflect strong production and throughput at Kittila, LaRonde Complex, Goldex and Canadian Malartic.
Other Factors at Play in Q4
Additionally, the company is expected to have benefited from higher gold prices in the fourth quarter. Uncertainties regarding the U.S.-China trade war, rate cuts by the U.S. Federal Reserve, global downturn concerns and tensions in the Middle East are some factors that have supported gold prices in 2019. As such, the benefits of higher year-over-year gold prices are expected to have been tailwinds for the company.
Agnico Eagle Mines Limited Price and EPS Surprise
Agnico Eagle Mines Limited price-eps-surprise | Agnico Eagle Mines Limited Quote
Other Stocks Likely to Beat Estimates
Here are other companies in the basic materials space you may want to consider as our model shows that they have the right combination of elements to post an earnings beat this quarter:
Bunge Limited (BG - Free Report) , slated to release fourth-quarter 2019 earnings on Feb 12, has an Earnings ESP of +18.18% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cleveland-Cliffs Inc. (CLF - Free Report) , scheduled to release fourth-quarter 2019 earnings on Feb 20, has an Earnings ESP of +29.17% and carries a Zacks Rank #3.
AK Steel Holding Corporation , scheduled to release fourth-quarter 2019 earnings on Feb 20, has an Earnings ESP of +11.11% and carries a Zacks Rank #3.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>