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In the latest trading session, Agnico Eagle Mines (AEM) closed at $78.65, marking a -0.46% move from the previous day. The stock's change was more than the S&P 500's daily loss of 1.11%. Meanwhile, the Dow experienced a drop of 0.77%, and the technology-dominated Nasdaq saw a decrease of 1.49%.
The gold mining company's shares have seen a decrease of 5.43% over the last month, surpassing the Basic Materials sector's loss of 8.24% and falling behind the S&P 500's gain of 0.4%.
Market participants will be closely following the financial results of Agnico Eagle Mines in its upcoming release. The company is forecasted to report an EPS of $1.15, showcasing a 101.75% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $2.09 billion, reflecting a 18.92% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.07 per share and a revenue of $8.31 billion, representing changes of +82.51% and +25.37%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Agnico Eagle Mines. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. 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 19.41. This signifies a premium in comparison to the average Forward P/E of 12.33 for its industry.
Meanwhile, AEM's PEG ratio is currently 0.61. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Gold industry had an average PEG ratio of 0.52 as trading concluded yesterday.