Agnico Eagle Mines (AEM) Stock Sinks As Market Gains: Here's Why

Agnico Eagle Mines (AEM) closed at $104.34 in the latest trading session, marking a -1.02% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq appreciated by 0.52%.The the stock of gold mining company has risen by 7.52% in the past month, leading the Basic Materials sector's loss of 1.45% and the S&P 500's loss of 7.33%.Investors will be eagerly watching for the performance of Agnico Eagle Mines in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.02, showcasing a 34.21% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $2.24 billion, showing a 22.4% escalation compared to the year-ago quarter.For the full year, the Zacks Consensus Estimates project earnings of $4.53 per share and a revenue of $9.17 billion, demonstrating changes of +7.09% and +10.65%, respectively, from the preceding year.It's also important for investors to be aware of any recent modifications to analyst estimates for Agnico Eagle Mines. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.32% downward. As of now, Agnico Eagle Mines holds a Zacks Rank of #3 (Hold).Investors should also note Agnico Eagle Mines's current valuation metrics, including its Forward P/E ratio of 23.29. This indicates a premium in contrast to its industry's Forward P/E of 13.95.Investors should also note that AEM has a PEG ratio of 0.74 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 1.01.The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% 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.You can find more information on all of these metrics, and much more, on Zacks.com.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks