Agnico Eagle Mines (AEM) shares ended the final buying and selling session 4.4% larger at $161.19. The soar got here on a powerful quantity with a higher-than-average variety of shares altering arms within the session. This compares to the inventory’s 13.2% achieve over the previous 4 weeks.
The rise in AEM’s shares displays continued energy in gold costs following the U.S. Federal Reserve’s rate of interest lower and prospects of extra charge cuts this yr amid issues over the labor markets.
This gold mining firm is anticipated to put up quarterly earnings of $1.74 per share in its upcoming report, which represents a year-over-year change of +52.6%. Revenues are anticipated to be $2.73 billion, up 26.5% from the year-ago quarter.
Earnings and income progress expectations actually give a very good sense of the potential energy in a inventory, however empirical analysis exhibits that developments in earnings estimate revisions are strongly correlated with near-term inventory worth actions.
For Agnico, the consensus EPS estimate for the quarter has been revised 1.6% larger during the last 30 days to the present degree. And a optimistic development in earnings estimate revision normally interprets into worth appreciation. So, ensure that to control AEM going ahead to see if this current soar can flip into extra energy down the highway.
The inventory presently carries a Zacks Rank #3 (Maintain). You may see the entire checklist of right now’s Zacks Rank #1 (Sturdy Purchase) shares right here >>>>
Agnico is a part of the Zacks Mining – Gold business. Newmont Company (NEM), one other inventory in the identical business, closed the final buying and selling session 4.3% larger at $81.72. NEM has returned 11.7% up to now month.
Newmont’s consensus EPS estimate for the upcoming report has modified +1.9% over the previous month to $1.27. In comparison with the corporate’s year-ago EPS, this represents a change of +56.8%. Newmont presently boasts a Zacks Rank of #3 (Maintain).
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Agnico Eagle Mines Restricted (AEM) : Free Inventory Evaluation Report
Newmont Company (NEM) : Free Inventory Evaluation Report
This text initially printed on Zacks Funding Analysis (zacks.com).
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
