Agnico Eagle Mines (AEM), -0.46% Stock Movements: What You Should Know

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 Jones saw a 0.77% decline, and the tech-dominated Nasdaq saw a 1.49% decline.

The gold miner’s shares fell 5.43% over the past month, outpacing the Basic Materials sector’s loss of 8.24% and lagging the S&P 500’s gain of 0.4%.

Market participants will be closely monitoring Agnico Eagle Mines’ financial results in its next release. The company is expected to report EPS of $1.15, displaying an upward move of 101.75% from the corresponding quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.09 billion, reflecting an increase of 18.92% from the same quarter last year.

For the full fiscal year, our Zacks Consensus Estimates are projecting earnings of $4.07 per share and revenue of $8.31 billion, which would represent changes of +82.51% and +25.37%, respectively, from the prior year.

Furthermore, it would be worthwhile for investors to monitor any recent shifts in analyst forecasts for Agnico Eagle Mines. Such recent adjustments usually indicate a changing landscape of near-term business trends. Hence, positive changes in estimates indicate analysts’ optimism about the company’s business and profitability.

Our research suggests that these estimate changes have a direct relationship to upcoming stock price performance. To benefit from this, we created the Zacks Rank, a proprietary model that incorporates these estimate changes and provides a functional rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has a proven, independently audited track record of outperformance, with #1 stocks contributing an average annual return of over 25% since 1988. Over the past 30 days, the Zacks Consensus EPS estimate has been unchanged. Agnico Eagle Mines currently has a Zacks Rank #3 (Hold).

Digging deeper into the valuation, Agnico Eagle Mines currently has a forward P/E ratio of 19.41. This demonstrates a premium compared to its industry’s average Forward P/E of 12.33.

Meanwhile, AEM’s PEG ratio currently stands at 0.61. Compared to the widely accepted P/E ratio, the P/E ratio also represents a company’s expected earnings growth. Mining – The gold industry achieved an average PE ratio of 0.52 at the end of trading yesterday.

The story continues