I've never seen as good a pipeline as what we have right now, says Agnico Eagle Mines CEO
I've never seen as good a pipeline as what we have right now, says Agnico Eagle Mines CEO
Agnico Eagle Mines CEO and President Ammar Al-Joundi joins 'Mad Money' host Jim Cramer to talk the state of precious metal mining.
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In the latest market close, Agnico Eagle Mines (AEM) reached $122.06, with a -1.25% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.53%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 0.83%. Shares of the gold mining company have appreciated by 5.38% over the course of the past month, outperforming the Basic Materials sector's gain of 4.61% and the S&P 500's gain of 5.17%. Market participants will be closely following the financial results of Agnico Eagle Mines in its upcoming release. The company is forecasted to report an EPS of $1.45, showcasing a 35.51% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.55 billion, indicating a 22.94% increase compared to the same quarter of the previous year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.03 per share and a revenue of $10.19 billion, indicating changes of +42.55% and +23%, respectively, from the former year. Investors should also take note of any recent adjustments to analyst estimates for Agnico Eagle Mines. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.18% higher. Agnico Eagle Mines is currently sporting a Zacks Rank of #2 (Buy). In the context of valuation, Agnico Eagle Mines is at present trading with a Forward P/E ratio of 20.51. This expresses a premium compared to the average Forward P/E of 13.22 of its industry. We can additionally observe that AEM currently boasts a PEG ratio of 1.08. 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 0.65. The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 28, positioning it in the top 12% 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 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 Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
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