Agnico (AEM) Shows Promise: Will Its 4.4% Increase Lead to Further Gains?
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
Agnico Eagle Mines Performance: AEM shares rose 4.4% to $161.19, reflecting strong gold prices and expectations of quarterly earnings of $1.74 per share, a 52.6% increase year-over-year.
Earnings Estimate Trends: The consensus EPS estimate for AEM has been revised 1.6% higher, indicating potential for further stock price appreciation, while the stock holds a Zacks Rank of #3 (Hold).
Newmont Corporation Update: NEM shares increased 4.3% to $81.72, with a consensus EPS estimate of $1.27, representing a 56.8% year-over-year change, also holding a Zacks Rank of #3 (Hold).
Software Stocks Outlook: The article highlights the anticipated growth in software stocks driven by AI advancements, with Zacks recommending top software stocks to consider.
Analyst Views on AEM
Wall Street analysts forecast AEM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AEM is 184.54 USD with a low forecast of 1.60 USD and a high forecast of 231.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
7 Buy
4 Hold
1 Sell
Moderate Buy
Current: 213.690
Low
1.60
Averages
184.54
High
231.00
Current: 213.690
Low
1.60
Averages
184.54
High
231.00
About AEM
Agnico Eagle Mines Limited is a Canada-based and led senior gold mining company engaged in producing precious metals from operations in Canada, Australia, Finland and Mexico, with a pipeline of exploration and development projects. Its operations include Canadian Malartic Complex, Detour Lake, Fosterville, Goldex, Kittila, La India, LaRonde Complex, Macassa, Meadowbank Complex, Meliadine and Pinos Altos. Its exploration sites include Barsele, Delta, Dubuisson, El Barqueno, Hammond Reef, Hope Bay, Jennings, Morelos Sur, North Madsen, Northern Territory, Pandora/Wood-Pandora, and others. The Canadian Malartic complex is located in the town of Malartic, 25 kilometers (km) west of Val-d’Or in northwestern Quebec. The Fosterville mine is a high-grade, low-cost underground gold mine, located 20 km from the city of Bendigo. It also owns a 100% interest in all its properties (128,680 hectares) in Quebec. Its projects also include Marban Alliance, Horizon, Alpha, Launay, Peacock, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
