Agnico Eagle Mines Limited AEM is a gold producer 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 could be a solid choice for investors.
Current Quarter Estimates for AEM
In the past 30 days, 1 estimate has gone higher for Agnico Eagle with no downward revisions in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 3 cents a share 30 days ago, to breakeven today, a move of 100%.
Current Year Estimates for AEM
Meanwhile, Agnico Eagle’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, narrowing from 4 cents per share 30 days ago to 6 cents per share today, an increase of 50%.
Bottom Line
The stock has also started to move higher lately, adding 6.4% 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 #3 (Hold) stock to profit in the near future.
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