Agnico (AEM) possesses solid growth attributes, which could help it handily outperform the market.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Able to impressively exceed their third-quarter earnings expectations on Wednesday, Agnico Eagle Mines (AEM) and Matson's (MATX) stock sport a Zacks Rank #1 (Strong Buy).
Agnico Eagle is a well-managed, financially sound mining company with a bright future that deserves a place in any portfolio of precious metals stocks. Agnico Eagle remains my number one choice in the gold mining sector, and the Q3 results have reinforced my view that it is an essential part of my investment program. If you are new to this sector of the market, then in terms of acquisitions, Agnico Eagle Mines Limited is a good place to start.
AEM's earnings increase in Q3 due to stronger mine operating margins resulting from higher realized gold prices and higher sales volumes.
Agnico Eagle Mines Limited reported another blowout quarter in Q3 '24 with 2% higher production to ~863,400 ounces and solid cost control with just a 2% increase in cash costs year-over-year. This impressive cost control combined with record gold prices allowed the company to enjoy an 1100 basis point increase in AISC margins and a 600%+ increase in free cash flow. Even more importantly than any quarterly result, the company's pipeline continues to improve each quarter with consistent exploration success across the portfolio of key assets.
Agnico Eagle Mines Ltd (TSX:AEM) shares moved lower as the gold miner posted a slight cost miss for the third quarter, which cast a shadow over an otherwise positive report. Cash costs of $921 per ounce of gold were higher than the $905 per ounce expected by Jefferies analysts, attributed to above-expected costs at most of the company's assets.
Agnico Eagle Mines (AEM) came out with quarterly earnings of $1.14 per share, beating the Zacks Consensus Estimate of $0.98 per share. This compares to earnings of $0.44 per share a year ago.
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24/7 Wall St. Insights Gold is hitting all-time highs as investors seek safety in a debt-ridden world.
Agnico (AEM) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Does Agnico Eagle Mines (AEM) have what it takes to be a top stock pick for momentum investors? Let's find out.