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Agnico Eagle Mines (AEM) closed the most recent trading day at $92.94, moving -1.61% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.51% for the day. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 0.28%.
Shares of the gold mining company have appreciated by 15.21% over the course of the past month, outperforming the Basic Materials sector's gain of 4.34% and the S&P 500's gain of 2.87%.
The investment community will be paying close attention to the earnings performance of Agnico Eagle Mines in its upcoming release. The company is slated to reveal its earnings on February 13, 2025. The company is predicted to post an EPS of $1.14, indicating a 100% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.1 billion, indicating a 19.39% increase compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Agnico Eagle Mines. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.11% decrease. Agnico Eagle Mines is currently a Zacks Rank #3 (Hold).
In terms of valuation, Agnico Eagle Mines is presently being traded at a Forward P/E ratio of 20. This represents a premium compared to its industry's average Forward P/E of 10.76.
Meanwhile, AEM's PEG ratio is currently 0.63. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold industry had an average PEG ratio of 0.62 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 36% of all 250+ industries.