Why the Market Dipped But Agnico Eagle Mines (AEM) Gained Today

In the latest trading session, Agnico Eagle Mines (AEM) closed at $84.30, marking a +1.13% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.54%. At the same time, the Dow lost 1.63%, and the tech-heavy Nasdaq lost 1.63%.The the stock of gold mining company has fallen by 2.17% in the past month, leading the Basic Materials sector's loss of 10.98% and the S&P 500's loss of 2.2%.The investment community will be closely monitoring the performance of Agnico Eagle Mines in its forthcoming earnings report. The company is scheduled to release its earnings on February 13, 2025. In that report, analysts expect Agnico Eagle Mines to post earnings of $1.15 per share. This would mark year-over-year growth of 101.75%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.09 billion, indicating a 18.92% increase compared to the same quarter of the previous year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Agnico Eagle Mines. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.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 last 30 days, the Zacks Consensus EPS estimate has moved 0.7% lower. Agnico Eagle Mines is holding a Zacks Rank of #3 (Hold) right now.Investors should also note Agnico Eagle Mines's current valuation metrics, including its Forward P/E ratio of 17.58. This denotes a premium relative to the industry's average Forward P/E of 10.44.Investors should also note that AEM has a PEG ratio of 0.56 right now. 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. The Mining - Gold industry had an average PEG ratio of 0.5 as trading concluded yesterday.The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 136, putting it in the bottom 46% of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.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 228 positions with double- and triple-digit gains in 2023 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks