Agnico Eagle Mines (AEM) Exceeds Market Returns: Some Facts to Consider

Agnico Eagle Mines (AEM) closed the most recent trading day at $89.23, moving +0.71% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.61% for the day. Meanwhile, the Dow experienced a rise of 0.3%, and the technology-dominated Nasdaq saw an increase of 1.28%.The the stock of gold mining company has risen by 12.54% in the past month, leading the Basic Materials sector's gain of 2.33% and the S&P 500's gain of 2.08%.Market participants will be closely following the financial results of Agnico Eagle Mines in its upcoming release. The company plans to announce its earnings on February 13, 2025. In that report, analysts expect Agnico Eagle Mines to post earnings of $1.14 per share. This would mark year-over-year growth of 100%. In the meantime, our current consensus estimate forecasts the revenue to be $2.1 billion, indicating a 19.39% growth compared to the corresponding quarter of the prior year.It is also important to note the recent changes to analyst estimates for Agnico Eagle Mines. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 1.11% lower. At present, Agnico Eagle Mines boasts a Zacks Rank of #3 (Hold).In terms of valuation, Agnico Eagle Mines is currently trading at a Forward P/E ratio of 18.76. This valuation marks a premium compared to its industry's average Forward P/E of 9.98.It is also worth noting that AEM currently has a PEG ratio of 0.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Mining - Gold was holding an average PEG ratio of 0.59 at yesterday's closing price.The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow AEM in the coming trading sessions, be sure to utilize Zacks.com.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Agnico Eagle Mines Limited (AEM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks