Agnico Eagle Mines (AEM) Stock Drops Despite Market Gains: Important Facts to Note

Agnico Eagle Mines (AEM) closed the latest trading day at $81.08, indicating a -1.11% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 1.26% for the day. On the other hand, the Dow registered a gain of 0.8%, and the technology-centric Nasdaq increased by 1.77%.Coming into today, shares of the gold mining company had lost 3.55% in the past month. In that same time, the Basic Materials sector lost 9.43%, while the S&P 500 lost 2.82%.The upcoming earnings release of Agnico Eagle Mines will be of great interest to investors. The company's upcoming EPS is projected at $1.15, signifying a 101.75% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.09 billion, up 18.92% from the year-ago period.Investors should also take note of any recent adjustments to analyst estimates for Agnico Eagle Mines. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.5% lower. Currently, Agnico Eagle Mines is carrying a Zacks Rank of #3 (Hold).Looking at valuation, Agnico Eagle Mines is presently trading at a Forward P/E ratio of 17.8. Its industry sports an average Forward P/E of 9.98, so one might conclude that Agnico Eagle Mines is trading at a premium comparatively.We can additionally observe that AEM currently boasts a PEG ratio of 0.56. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Mining - Gold industry held an average PEG ratio of 0.45.The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 35% of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. 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