Agnico Eagle Mines Limited is a class act and a must for most gold bugs. Great Q2 financial results add confidence to achieving this year's targets for cost control and output. AEM remains my number one choice in the gold mining sector, which I intend to hold as part of my core position in the precious metals space.
Agnico Eagle Mines (AEM) came out with quarterly earnings of $1.07 per share, beating the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $0.65 per share a year ago.
Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties.
The price of gold has soared nearly 15% from the start of the year through June. Agnico Eagle and Newmont are two premier gold producers that both offer 2.2% forward-yielding dividends.
Agnico Eagle's (AEM) second-quarter results are expected to reflect the benefits of higher gold prices and strong production.
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.
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Gold has been on fire recently, and Canadian gold miner Agnico Eagle Mines Limited (AEM) has been along for the ride.
Agnico Eagle Mines (AEM) closed at $74.76 in the latest trading session, marking a +0.8% move from the prior day.
Agnico Eagle Mines has seen a 20% price increase in the past quarter, but its uptick appears hardly over yet. Besides benefiting from rising gold prices, the company's production levels are healthy, resulting in superior revenue growth and upgraded financial projections. Even its market multiples still indicate the possibility of significant further upside ahead. There's also a possibility of higher dividends moving forward.
Agnico Eagle, Franco-Nevada, Royal Gold, Eldorado Gold and New Gold have been highlighted in this Industry Outlook article.
With gold prices on an uptrend and demand expected to remain strong, the near-term outlook for the Zacks Mining - Gold industry looks promising. Investors can consider adding stocks like AEM, FNV, RGLD, EGO and NGD to their portfolios to capitalize on these trends.