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Agnico Eagle Mines Limited Hit a 52 Week High, Can the Run Continue?
Have you been paying attention to shares of Agnico Eagle Mines (NYSE: AEM)? Shares have been on the move with the stock up 16.3% over the past month. The stock hit a new 52-week high of $75.95 in the previous session. Agnico Eagle Mines has gained 36.3% since the start of the year compared to the -1.6% move for the Zacks Basic Materials sector and the 21.1% return for the Zacks Mining - Gold industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on April 25, 2024, Agnico reported EPS of $0.76 versus consensus estimate of $0.6 while it beat the consensus revenue estimate by 12.82%.
For the current fiscal year, Agnico is expected to post earnings of $3.28 per share on $7.65 billion in revenues. This represents a 47.09% change in EPS on a 15.49% change in revenues. For the next fiscal year, the company is expected to earn $3.56 per share on $7.67 billion in revenues. This represents a year-over-year change of 8.57% and 0.23%, respectively.
Valuation Metrics
Agnico may be at a 52-week high right now, but what might ...