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In the latest market close, Agnico Eagle Mines (AEM) reached $96.28, with a +1.25% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 1.59%. At the same time, the Dow added 1.39%, and the tech-heavy Nasdaq gained 1.63%.
The gold mining company's stock has climbed by 0.67% in the past month, exceeding the Basic Materials sector's loss of 0.27% and the S&P 500's loss of 2.42%.
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 $1.01, reflecting a 32.89% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.1 billion, indicating a 14.58% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.63 per share and a revenue of $9.22 billion, indicating changes of +9.46% and +11.3%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Agnico Eagle Mines. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.88% lower. Agnico Eagle Mines currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Agnico Eagle Mines currently has a Forward P/E ratio of 20.52. This indicates a premium in contrast to its industry's Forward P/E of 11.01.
One should further note that AEM currently holds a PEG ratio of 0.65. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Mining - Gold industry held an average PEG ratio of 0.63.