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Increased Earnings Estimates Seen for Eagle Mines (AEM): Can It Move Higher?

Zacks Equity Research

Agnico Eagle Mines Limited (AEM) is a company involved in exploration, development, and production of mineral properties that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AEM’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Agnico Eagle Mines could be a solid choice for investors.

Current Quarter Estimates for AEM

In the past 30 days, 4 estimates have gone higher for Agnico Eagle Mines while 2 have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 14 cents a share 30 days ago, to 22 cents today, a move of  57.1%.

Current Year Estimates for AEM

Meanwhile, Agnico Eagle Mines’ current year figures are also looking quite promising, with 11 estimates moving higher in the past month, compared to 2 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 62 cents per share 30 days ago to 84 cents per share today, an increase of 35.5%.

Bottom Line

The stock has also started to move higher lately, adding 6.11% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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AGNICO EAGLE MINES LTD (AEM): Free Stock Analysis Report

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