In the latest close session, Agnico Eagle Mines (AEM) was up +1.87% at $200.36. The stock's performance was ahead of the S&P 500's daily gain of 0.86%. Elsewhere, the Dow saw an upswing of 0.98%, while the tech-heavy Nasdaq appreciated by 0.96%.
Heading into today, shares of the gold mining company had gained 9.05% over the past month, outpacing the Basic Materials sector's loss of 0.74% and the S&P 500's loss of 1.96%.
Investors will be eagerly watching for the performance of Agnico Eagle Mines in its upcoming earnings disclosure. The company is expected to report EPS of $2.45, up 13.43% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $3.53 billion, indicating a 15.49% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.58 per share and a revenue of $15.09 billion, representing changes of +39.86% and +26.72%, respectively, from the prior 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. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.91% decrease. Currently, Agnico Eagle Mines is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Agnico Eagle Mines is currently trading at a Forward P/E ratio of 16.99. This expresses a premium compared to the average Forward P/E of 12.91 of its industry.
Meanwhile, AEM's PEG ratio is currently 2.44. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.96.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 217, positioning it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).