Yahoo Finance Agnico Eagle Mines (AEM) Gains As Market Dips: What You Should Know
Agnico Eagle Mines (AEM) closed the most recent trading day at $57.32, moving +1.65% from the previous trading session. This change outpaced the S&P 500's 0.07% loss on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq lost 3.22%.
Prior to today's trading, shares of the gold mining company had gained 7.16% over the past month. This has lagged the Basic Materials sector's gain of 8.15% and outpaced the S&P 500's gain of 4.64% in that time.
Wall Street will be looking for positivity from Agnico Eagle Mines as it approaches its next earnings report date. This is expected to be February 16, 2023. On that day, Agnico Eagle Mines is projected to report earnings of $0.40 per share, which would represent a year-over-year decline of 13.04%.
Investors might also notice recent changes to analyst estimates for Agnico Eagle Mines. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 0.53% higher. Agnico Eagle Mines currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Agnico Eagle Mines currently has a Forward P/E ratio of 26.79. This represents a premium compared to its industry's average Forward P/E of 22.53.
Also, we should mention that AEM has a PEG ratio of 26.79. 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. AEM's industry had an average PEG ratio of 3.67 as of yesterday's close.
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 includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report
