La catena delle opzioni mostra i dati chiave delle opzioni azionarie di Agnico Eagle Mines a vari prezzi di esercizio e date di scadenza. I trader utilizzano queste informazioni per analizzare potenziali operazioni e valutare il sentiment del mercato per Agnico Eagle Mines..

Agnico Eagle Mines (NYSE:AEM) Azioni, Catena delle Opzioni

Agnico Eagle Mines

Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It produced more than 3.4 million gold ounces in 2023 and had about 15 years of gold reserves at end 2023. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.

Agnico Eagle Mines Ltd

American Century ETF Trust Emerging Mkts Bd ETF

Aethlon Medical Inc

AIS MSCI Em Mkts UCTS DRC ETF

AEM Holdings Ltd

AURORA ENERGY METALS LTD by AURORA ENERGY METALS LTD.

Aurora Energy Metals Ltd

A2A SpA

Amundi Index MSCI EM ETF USD D

Earnings

News

Agnico Eagle Mines Reports Quarterly Results With 863,445 Ounces Of Payable Gold Production; Production Costs Per Ounce At $908, Total Cash Costs At $921, And AISC At $1,286

Agnico Eagle Mines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>) reported quarterly earnings of $1.13 per share which beat the analyst consensus estimate of $1.02 by 10.78 percent.

Earnings Beats

Agnico Eagle Mines Q3 2024 Adj EPS $1.13 Beats $1.02 Estimate

Investors with a lot of money to spend have taken a bearish stance on Agnico Eagle Mines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AEM, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Agnico Eagle Mines.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $43,400, and 7, calls, for a total amount of $661,568.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $90.0 for Agnico Eagle Mines, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of Agnico Eagle Mines stands at 2639.8, with a total volume reaching 3,583.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Agnico Eagle Mines, situated within the strike price corridor from $70.0 to $90.0, throughout the last 30 days.
<h3>Agnico Eagle Mines Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729889131_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AEM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$4.6</td>
<td>$4.5</td>
<td>$4.5</td>
<td>$90.00</td>
<td>$405.0K</td>
<td>8.6K</td>
<td>1.6K</td>
</tr>
<tr>
<td>AEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/17/25</td>
<td>$13.2</td>
<td>$13.0</td>
<td>$13.2</td>
<td>$85.00</td>
<td>$69.9K</td>
<td>100</td>
<td>55</td>
</tr>
<tr>
<td>AEM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$2.35</td>
<td>$2.25</td>
<td>$2.28</td>
<td>$90.00</td>
<td>$45.5K</td>
<td>3.9K</td>
<td>225</td>
</tr>
<tr>
<td>AEM</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$4.6</td>
<td>$4.4</td>
<td>$4.5</td>
<td>$90.00</td>
<td>$45.0K</td>
<td>8.6K</td>
<td>610</td>
</tr>
<tr>
<td>AEM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$3.7</td>
<td>$3.5</td>
<td>$3.5</td>
<td>$85.00</td>
<td>$43.4K</td>
<td>422</td>
<td>34</td>
</tr>
</tbody>
</table>

<h3>About Agnico Eagle Mines</h3>
Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It produced more than 3.4 million gold ounces in 2023 and had about 15 years of gold reserves at end 2023. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.
Having examined the options trading patterns of Agnico Eagle Mines, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Agnico Eagle Mines</h3>
<ul>
<li>Currently trading with a volume of 2,327,317, the AEM's price is down by -1.23%, now at $86.85. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 5 days.</li>
</ul>
<h3>Expert Opinions on Agnico Eagle Mines</h3>
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $85.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Jefferies has decided to maintain their Hold rating on Agnico Eagle Mines, which currently sits at a price target of $85. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Agnico Eagle Mines options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

Agnico Eagle Mines Options Trading: A Deep Dive into Market Sentiment

Each week,&nbsp;Benzinga&#8217;s Stock Whisper Index&nbsp;uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the&nbsp;<a href="https://www.benzinga.com/topic/stock-whisper-index" target="_blank" rel="noreferrer noopener">surface and deserve attention</a>.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance of information to uncover new opportunities and understand why certain stocks should be of interest.
Read Also: <a href="https://www.benzinga.com/top-stories/24/10/41150827/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-september-2024-where-do-tesla-nvidia-apple" target="_blank" rel="noreferrer noopener">EXCLUSIVE &#8211; Top 20 Most-Searched Tickers On Benzinga Pro In September 2024 – Where Do Tesla, Nvidia, Apple, DJT Stock Rank?</a>
Here's a look at the Benzinga Stock Whisper Index for the week of Oct. 25:
SoFi Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>): Analysts expect the financial services stock to report third-quarter revenue of $632.1 million. That&#8217;s up from $530.7 million in last year's third quarter when the company reports on Oct. 29. SoFi has a streak of 13 straight quarters beating analyst estimates for revenue. Earnings per share should be 4 cents for the quarter, up from a loss of 3 cents per share in the comparable quarter last year. 
The company has beaten or met earnings per share estimates in more than 10-straight quarters. The stock could also see increased interest with President Joe Biden extending the student loan payment pause for six months for eight million borrowers. In early October, SoFi <a href="https://www.benzinga.com/news/24/10/41313080/sofi-technologies-stock-is-surging-monday-whats-going-on">announced a $2 billion</a> loan platform business agreement with Fortress Investment Group, which could boost the company's business.
SoFi stock is up over 10% in the last five trading days as seen on the <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102524&amp;t=be2bearmibe3na1">Benzinga Pro chart</a> below and up 13% year-to-date.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="997" height="504" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101714/Screenshot-218.png" alt="" class="wp-image-614552" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101714/Screenshot-218.png 997w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101714/Screenshot-218-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101714/Screenshot-218-768x388.png 768w" sizes="(max-width: 997px) 100vw, 997px" /></a></figure>
AST SpaceMobile Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>): The satellite and telecommunications company returns to the Stock Whisper Index, which is becoming a regular occurrence as one of the top trending stocks month in and month out. On Wednesday, the company<a href="https://www.benzinga.com/government/24/10/41505590/ast-spacemobile-stock-is-rising-after-hours-whats-going-on"> announced a contract</a> with the Space Development Agency as a prime government contractor. With the initial contract, AST SpaceMobile can now compete directly on prototype orders for the U.S. government.
"This initial contract validates our commitment to developing innovative solutions for national security space needs," AST SpaceMobile's chief commercial officer Chris Ivory said.
Back in September the stock made the<a href="https://www.benzinga.com/top-stories/24/09/40855829/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet"> Stock Whisper Index </a>with increased interest from readers as the company was launching its first five commercial satellites as part of a collaboration with key partner AT&amp;T.
AST SpaceMobile shares are down on the week, but remain up over 400% year-to-date in 2024.
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QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>): The electric vehicle battery company <a href="https://www.benzinga.com/news/earnings/24/10/41517741/quantumscape-stock-is-ripping-higher-thursday-whats-going-on">announced quarterly financial results</a> and shared an update on battery technology testing. It reported a third-quarter loss of 23 cents per share, in line with analyst estimates. Likely driving increased interest in the stock and the rising stock price was the company sharing that it started producing low volumes of its first B-sample cells (QSE-5), which have fast-charging capabilities.
"QSE-5 represents an important milestone for our company and the battery industry as a whole. These cells are, to the best of our knowledge, the first anode-free solid-state lithium-metal cell design ever produced for automotive applications," the company said.
QuantumScape said it plans to ship samples to customers for feedback.
The stock was up over 20% in the last five trading days, as shown on the <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102524&amp;t=be2bearmibe3na1">Benzinga Pro chart</a> below. The stock is down around 3% year-to-date in 2024.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1001" height="504" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101755/Screenshot-220.png" alt="" class="wp-image-614555" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101755/Screenshot-220.png 1001w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101755/Screenshot-220-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101755/Screenshot-220-768x387.png 768w" sizes="(max-width: 1001px) 100vw, 1001px" /></a></figure>
Agnico Eagle Mines Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>): The gold mining stock was one of<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41466115/gold-mining-stocks-notch-ninth-positive-day-hit-august-2020-highs-today-is-a-good-t"> several in the sector </a>to see increased interest from readers. 
Agnico is set to report third-quarter financial results on Oct. 30. Analysts expect the company to report earnings per share of $1.02, compared to 44 cents in last year's third quarter. The company has beaten analyst estimates for earnings per share in three straight quarters and eight of the last 10 quarters overall. 
Analysts expect the company to report revenue of $2.11 billion for the quarter, up from $1.64 billion in last year's third quarter. Agnico has beaten analyst estimates for revenue in three straight quarters and five of the last six quarters.
Increase in gold stocks comes with the price of gold hitting record highs on the backs of macroeconomic uncertainties, Federal Reserve interest rate cuts and global concerns on rising tension in the Middle East.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="995" height="504" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101811/Screenshot-221.png" alt="" class="wp-image-614557" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101811/Screenshot-221.png 995w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101811/Screenshot-221-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101811/Screenshot-221-768x389.png 768w" sizes="(max-width: 995px) 100vw, 995px" /></a></figure>
VICI Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VICI#NYSE">VICI</a>): The real estate investment trust will release its third-quarter financial report on Oct. 31. 
Analysts expect the company to report revenue of $952.7 million and earnings per share of 57 cents, up from $904.3 million and 54 cents respectively in last year's third quarter. 
VICI owns various properties in the gaming and entertainment sectors, including golf courses. It collects rent from the operators.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="993" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101828/Screenshot-222.png" alt="" class="wp-image-614559" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101828/Screenshot-222.png 993w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101828/Screenshot-222-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25101828/Screenshot-222-768x388.png 768w" sizes="(max-width: 993px) 100vw, 993px" /></a></figure>
Stay tuned for next week&#8217;s report, and follow Benzinga Pro for all the latest headlines and&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102524&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">top market-moving stories here.</a>
Read the latest Stock Whisper Index reports here:
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REIT

SPACE

Exclusives

Trading Ideas

ASTS

SOFI

VICI

Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet

Agnico Eagle Mines Agrees To Subscribe For 33.8M Units Of ATEX Resources In Private Placement At C$1.63 Per Unit For Total Consideration Of $40M

GOLD

PAAS

Shares of gold and silver companies are trading higher. Precious metals have recently gained on macro uncertainty amid Middle East conflict and the upcoming US presidential election.

WIIM

GATO

Shares of precious metals stocks are trading higher as gold and silver rise amid macro uncertainty, which has been attributed to Middle East conflict and the upcoming US presidential election.

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock&#39;s price, but are they really important?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let&#39;s see what these Wall Street heavyweights think about Agnico Eagle Mines (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aem#NYSE">AEM</a>).
Agnico currently has an average brokerage recommendation of 1.33, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 15 brokerage firms. An ABR of 1.33 approximates between Strong Buy and Buy.
Of the 15 recommendations that derive the current ABR, 11 are Strong Buy and three are Buy. Strong Buy and Buy respectively account for 73.3% and 20% of all recommendations.
<h2>Brokerage Recommendation Trends for AEM</h2>
<img alt="Broker Rating Breakdown Chart for AEM" class="chart" src="https://staticx-tuner.zacks.com/images/yesopchart/brokerage_bar/AEM_10182024.png" style="width:100%" title="" /> 
The ABR suggests buying Agnico, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every &quot;Strong Sell&quot; recommendation, brokerage firms assign five &quot;Strong Buy&quot; recommendations.
In other words, their interests aren&#39;t always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock&#39;s price movement.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock&#39;s price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
<h2>Zacks Rank Should Not Be Confused With ABR</h2>
Although both Zacks Rank and ABR are displayed in a range of 1-5, they are different measures altogether.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers&#39; vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company&#39;s changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
<h2>Is AEM Worth Investing In?</h2>
Looking at the earnings estimate revisions for Agnico, the Zacks Consensus Estimate for the current year has increased 4.1% over the past month to $3.88.
Analysts&#39; growing optimism over the company&#39;s earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Agnico.
Therefore, the Buy-equivalent ABR for Agnico may serve as a useful guide for investors.
<a href="https://www.zacks.com/stock/news/2353028/is-it-worth-investing-in-agnico-aem-based-on-wall-street-s-bullish-views?cid=CS-BENZ-FT-fundamental_analysis|average_broker_rating-2353028">To read this article on Zacks.com click here.</a>

Large Cap

Analyst Ratings

Is It Worth Investing in Agnico Based on Wall Street's Bullish Views?

SAND

SBSW

SSRM

Shares of precious metals stocks are trading higher amid a rise in the price of gold and silver.

Jefferies analyst Matthew Murphy maintains Agnico Eagle Mines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>) with a Hold and raises the price target from $68 to $85.

Price Target

Jefferies Maintains Hold on Agnico Eagle Mines, Raises Price Target to $85

RGLD

Shares of gold companies are trading higher following a spike in the price of the safe haven asset after Iran launched a missile attack on Israel.

Shares of precious metals companies are trading lower amid a pullback in gold and silver.

Shares of gold companies are trading higher after the price of the commodity reached all-time highs following last week's Fed rate cut.

Shares of gold stocks are trading higher in sympathy with overall market sentiment after the Fed policy decision to cut rates by 50 basis points.

UBS analyst Daniel Major initiates coverage on Agnico Eagle Mines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>) with a Buy rating and announces Price Target of $95.

Initiation

UBS Initiates Coverage On Agnico Eagle Mines with Buy Rating, Announces Price Target of $95

Agnico Eagle Mines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>) has outperformed the market over the past 20 years by 1.17% on an annualized basis producing an average annual return of 9.52%. Currently, Agnico Eagle Mines has a market capitalization of $41.72 billion. 
Buying $100 In AEM: If an investor had bought $100 of AEM stock 20 years ago, it would be worth $636.72 today based on a price of $83.27 for AEM at the time of writing.
<h3>Agnico Eagle Mines's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726245159_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Agnico Eagle Mines 20 Years Ago Would Be Worth This Much Today

Hycroft Mining Holding Corporation - Class A Common Stock

HYMC

Shares of precious metals stocks are trading higher as gold and silver rise amid a drop in the US dollar following recent economic data.

Shares of precious metals stocks are trading higher as gold and silver rise amid a drop in the US dollar following recent inflation data.

Newmont Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>) shares have rallied 24.8% in the past three months, outperforming the Zacks Mining &ndash; Gold industry&#39;s rise of 12.4%. Forecast-topping earnings performance in the second quarter on the back of higher selling prices and production, along with a surge in gold prices, has contributed to the run-up in NEM&#39;s shares.
The stock is currently trading at a roughly 6% discount to its 52-week high of $53.88, reached on Aug. 30, 2024.
Technical indicators show that NEM has been unremittingly trading above the 200-day simple moving average&nbsp;since April 23, 2024. After a series of ebbs and flows, the stock broke the 50-day SMA on July 3, 2024.&nbsp; Following a golden crossover on May 13, 2024, the 50-day SMA continues to read higher than the 200-day moving average, manifesting a bullish trend, with the 200-day SMA acting as the support level.
<h2>Newmont&#39;s Shares Trade Above 50-Day SMA</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a7/77086.jpg?v=2064703259" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
Is the time right to buy NEM&#39;s shares for potential upside? Let&#39;s take a look at the stock&#39;s fundamentals.
<h2>NEM Stock Well Poised on Key Projects &amp; Newcrest Buyout</h2>
Newmont continues to invest in growth projects in a calculated manner. The company is pursuing several projects, including Tanami Expansion 2 in Australia, the Ahafo North expansion in Ghana and Cadia Block Caves in Australia. These projects should expand production capacity and extend mine life, thereby driving revenues and profits.
The acquisition of Newcrest Mining Limited has also created an industry-leading portfolio with a multi-decade gold and copper production profile in the most favorable mining jurisdictions globally. The combination of Newmont and Newcrest is expected to deliver significant value for shareholders and generate meaningful synergies, with $500 million in total annual pre-tax benefits expected by the end of 2025. NEM also remains on track to meet its 2024 gold production target of around 6.9 million ounces with solid performances of its managed Tier 1 assets and contributions of the sites acquired from the Newcrest buyout.
<h2>Solid Financial Health Supports NEM&#39;s Capital Allocation</h2>
Newmont has a strong liquidity position and generates substantial cash flows, which allows it to fund its growth projects, meet short-term debt obligations and drive shareholder value. At the end of the second quarter of 2024, Newmont had liquidity of $6.8 billion, including cash and cash equivalents of around $2.6 billion. Its operating cash flow more than doubled year over year to around $1.4 billion. NEM also generated $594 million in free cash flow and returned roughly $539 million to its shareholders through dividends and share buybacks in the quarter.
As a leading gold producer, Newmont also stands to benefit significantly from the record-setting upswing in gold prices, which should boost its profitability and drive cash flow generation. Gold prices are hitting record highs this year, and the yellow metal has been among the best-performing assets.
Prices skyrocketed to surpass the $2,500 per ounce level for the first time on Aug. 2, 2024, as ebbing inflation raised hopes of a U.S. interest rate cut in September. Increased tensions in the Middle East and concerns over an economic slowdown also fueled safe-haven demand. Prices rallied to a record high of $2,531.70 per ounce on Aug. 20, 2024, on growing Fed rate cut expectations.
NEM offers a healthy dividend yield of 2% at the current stock price. Its payout ratio is 47% (a ratio below 60% is a good indicator that the dividend will be sustainable), with a five-year annualized dividend growth rate of 15.5%. Backed by strong cash flows and sound financial health, the company&#39;s dividend is perceived to be safe and reliable.
<h2>NEM&#39;s Higher Production Costs A Concern</h2>
Newmont is being challenged by higher production costs, which will likely weigh on its margins over the near term. Its gold costs applicable to sales rose roughly 13% year over year in 2023. Newmont also saw a 19% surge in all-in-sustaining costs &mdash; the most important cost metric of miners. Both cost metrics increased year over year in the second quarter of 2024. The impacts of increased direct operating costs are leading to cost inflation. Higher materials, labor and contract services costs, despite easing somewhat lately, remain as concerns.
<h2>Newmont&#39;s Earnings Estimates Going Up</h2>
Earnings estimates for NEM have been going up over the past 60 days, reflecting analysts&#39; optimism. The Zacks Consensus Estimate for 2024 and 2025 have been revised upward over the same time frame.&nbsp; 
The Zacks Consensus Estimate for 2024 earnings is currently pegged at $2.82, reflecting an expected year-over-year growth of 75.2%. Earnings are expected to register a roughly 20.6% growth in 2025. NEM has a long-term EPS growth rate of 48.5% versus 28.1% for its industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/14/77088.jpg?v=2120108024" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>NEM&#39;s Valuation: A Bit Stretched But Reasonable</h2>
Newmont is currently trading at a forward 12-month earnings multiple of 15.74X, a roughly 4.9% premium to the industry average of 15X. The valuation looks reasonable, considering the company&#39;s healthy earnings trajectory.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/97/77087.jpg?v=980756600" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>Newmont Outperforms S&amp;P 500</h2>
Thanks to the rally in gold prices, NEM&#39;s shares have racked up a gain of 22.6% year to date, underperforming the industry&#39;s 24% rise but topping the S&amp;P 500&#39;s rise of 13.3%. Its gold mining peers, Barrick Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gold#NYSE">GOLD</a>), Agnico Eagle Mines Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aem#NYSE">AEM</a>) and Kinross Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kgc#NYSE">KGC</a>), have gained 6.6%, 41.8% and 40.8%, respectively, over the same period.
<h2>NEM&#39;s YTD Price Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/1e/77085.jpg?v=839872447" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>How Should Investors Play the NEM Stock?</h2>
NEM presents an attractive investment case backed by a robust portfolio of growth projects, solid financial health and bullish technicals. Other positives include a healthy growth trajectory, rising earnings estimates and an attractive dividend yield. Rallying gold prices should also boost NEM&#39;s profitability and drive cash flow generation. Despite the upbeat growth prospects, its high production costs warrant caution. Holding onto this Zacks Rank #3 (Hold) stock will be prudent for investors who already own it.
<a href="https://www.zacks.com/stock/news/2333834/does-newmont-s-25-gain-in-3-months-justify-buying-the-stock-now?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2333834">To read this article on Zacks.com click here.</a>

Dividends

Technicals

Commodities

Does Newmont's 25% Gain in 3 Months Justify Buying the Stock Now?

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock&#39;s price. Do they really matter, though?
Let&#39;s take a look at what these Wall Street heavyweights have to say about Agnico Eagle Mines (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aem#NYSE">AEM</a>) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.
Agnico currently has an average brokerage recommendation of 1.36, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 14 brokerage firms. An ABR of 1.36 approximates between Strong Buy and Buy.
Of the 14 recommendations that derive the current ABR, 10 are Strong Buy and three are Buy. Strong Buy and Buy respectively account for 71.4% and 21.4% of all recommendations.
<h2>Brokerage Recommendation Trends for AEM</h2>
<img alt="Broker Rating Breakdown Chart for AEM" class="chart" src="https://staticx-tuner.zacks.com/images/yesopchart/brokerage_bar/AEM_09052024.png" style="width:100%" title="" /> 
The ABR suggests buying Agnico, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every &quot;Strong Sell&quot; recommendation, brokerage firms assign five &quot;Strong Buy&quot; recommendations.
This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock&#39;s future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock&#39;s price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
<h2>ABR Should Not Be Confused With Zacks Rank</h2>
Although both Zacks Rank and ABR are displayed in a range of 1-5, they are different measures altogether.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers&#39; vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company&#39;s changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
<h2>Is AEM Worth Investing In?</h2>
Looking at the earnings estimate revisions for Agnico, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at $3.65.
Analysts&#39; steady views regarding the company&#39;s earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Agnico.
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Agnico.
<a href="https://www.zacks.com/stock/news/2332010/brokers-suggest-investing-in-agnico-aem-read-this-before-placing-a-bet?cid=CS-BENZ-FT-fundamental_analysis|average_broker_rating-2332010">To read this article on Zacks.com click here.</a>

Brokers Suggest Investing in Agnico: Read This Before Placing a Bet

Agnico Eagle: Near Flawless Execution For This Consistent Producer

The gold industry is well-poised to reap rewards from robust demand and expanding application. Also, gold stocks provide an indirect way to hedge against inflation, as they tend to perform relatively well when inflation is high and economic uncertainty increases. So, quality gold mining stocks Agnico Eagle Mines (AEM), Barrick Gold (GOLD), and Kinross Gold (KGC) could be ideal investments. Continue reading… Inflation is constantly among the major concerns in the U.S. economy, weakening the consumers' spending power. Also, current geopolitical tensions and upcoming elections are spurring further turmoil in the market. Amid this, investors generally incline more towards resilient asset classes like gold to hedge against inflation and market downtrends.
Against this backdrop, investors could consider buying fundamentally sound gold mining stocks Agnico Eagle Mines Limited (<a href="https://stocknews.com/stock/AEM/">AEM</a>), Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>), and Kinross Gold Corporation (<a href="https://stocknews.com/stock/KGC/">KGC</a>) as an inflation hedge in 2024.
During September 2024, <a href="https://www.statista.com/statistics/273418/unadjusted-monthly-inflation-rate-in-the-us/#:~:text=The%20annual%20inflation%20rate%20in,has%20weakened%20in%20recent%20years.">the consumer price index was up by 2.4%</a> as compared to September 2023. The inflation levels have been severely concerning since 2022 because of COVID-19, supply chain restraints, and the Russian invasion of Ukraine.
Amid this, demand for metals and minerals has seen strong growth in recent periods, owing to increasing production activities, improving efficiency through technologies, and rapid economic growth. Also, as the election season is approaching, the market is expected to undergo higher volatility, urging investors to lean towards resilient investment alternates like Gold.
For a long time, gold has remained a safe haven asset for its historical resilience, price appreciation, and use in the form of jewelry and as an investment. Central bank gold purchasing and increasing use of gold in technology are clear indicators of the same.
During the second quarter, <a href="https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q2-2024">Central Bank net gold buying surged by 6%</a> year-over-year at 183 tonnes for portfolio protection and diversification, while gold used in technology jumped 11% year-over-year with recent uptrends in Artificial Intelligence (AI). Also, escalating geopolitical tensions and lower U.S. interest rates are increasing the appeal of yellow metal in the market.
Considering the industry's conducive trends, let's delve into the fundamentals of the top three <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> stocks, starting with the third choice.
Stock #3: Agnico Eagle Mines Limited (<a href="https://stocknews.com/stock/AEM/">AEM</a>)
Headquartered in Toronto, Canada, AEM is engaged in the exploration, development, and production of precious metals. Its mines are located in Canada, Australia, Finland, and Mexico, and they have exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.
On October 25, AEM agreed to subscribe to 33,869,939 units of ATEX Resources Inc. (ATX) at a price of C$1.63 per Unit for a total consideration of US$40,000,000. Each Unit is comprised of one common share of ATEX and one-half of one common share purchase warrant of ATEX.
The investment in ATEX is consistent with AEM's historical practice of strategic equity investments in projects bearing high geological potential, and it offers AEM exposure in an early-stage copper-gold exploration project in Chile, an established mining jurisdiction.
On July 15, AEM entered into a transaction with First Nordic Metals Corp. (FNM) to acquire 27,954,872 common shares of FNM. After the transaction, AEM owned 29,413,166 common shares of FNM, representing approximately 13.25% of the issued and outstanding common shares.
Also, on June 24, AEM acquired an additional 33,821,842 common shares of Maple Gold Mines Ltd. on June 21, 2024, at a price of $0.085 per common share for a total consideration of approximately $2.87 million from several sellers that acquired the common shares in connection with an offering of flow-through common shares issued by Maple.
The share purchase brought AEM's holding to 74,674,257 common shares, representing around 19.9% of the issued and outstanding common shares.
During the second quarter, which ended June 30, 2024, AEM's revenues from mining operations increased by 20.9% from the year-ago value to $2.08 billion. The company's adjusted net income totaled $535.27 million and $1.07 per share, indicating increases of 68.2% and 64.6% from the prior year's period, respectively. Its adjusted EBITDA was $1.18 billion, up 32.9% year-over-year.
Furthermore, the company's <a href="https://www.investopedia.com/terms/f/freecashflow.asp">free cash flow</a> rose 86.7% from the year-ago value to $557.24 million.
Analysts expect AEM's revenue and EPS for the third quarter (ended September 2024) to grow 28.7% and 132.7% year-over-year to $2.11 billion and $1.02, respectively. Also, the company has surpassed the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
Over the past six months, AEM's stock has surged 33.8% and 78% over the past year to close the last trading session at $86.88.
AEM's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
AEM has an A grade for Sentiment and a B for Growth. It is ranked #12 out of 42 stocks in the B-rated <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> industry.
To check additional AEM POWR Ratings for Value, Quality, Stability, and Momentum, <a href="https://stocknews.com/stock/AEM/">click here</a>.
Stock #2: Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>)
Based in Toronto, Canada, GOLD is in the exploration, mine development, production, and sale of gold and copper properties internationally. It also explores and sells silver and energy materials. The company holds ownership interests in producing gold mines in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the U.S.
On October 16, GOLD reported preliminary third-quarter production of 943 thousand ounces of gold and 48 thousand tonnes of copper and preliminary third-quarter sales of 967 thousand ounces of gold and 42 thousand tonnes of copper.
The company stated that preliminary third-quarter gold production was in line with the second quarter. Also, a sequential improvement of 23% on continued plant optimization was delivered by Pueblo Viejo, and North Mara had a stronger quarter driven by higher grades.
On October 2, GOLD launched a $2 billion Super Pit project at its Lumwana copper mine, inaugurated by Zambian President Hakainde Hichilema. The Super Pit Expansion is expected to begin construction in 2025. Upon completion, the project will unlock the potential to transform Lumwana into a long-life, high-yielding, top-25 copper producer and a Tier 1 copper mine.
The development could grow GOLD's copper output, strengthen its asset base, and support its long-term growth in the copper market.
GOLD's revenues for the second quarter, which ended June 30, 2024, increased 11.6% year-over-year to $3.16 billion. The company's attributable EBITDA grew 30.5% year-over-year to $1.29 billion. Its adjusted net earnings came in at $557 million and $0.32 per share, up 65.8% and 68.4% from the year-ago value, respectively.
Analysts expect GOLD's revenue and EPS for the third quarter (ended September 2024) to increase 16.6% and 31.4% year-over-year to $3.34 billion and $0.32, respectively. Also, the company topped the consensus EPS estimates in all of the trailing four quarters.
Over the past six months, the stock has surged 14.8% and 18.3% over the past year to close the last trading session at $19.61.
GOLD's robust outlook is reflected in its POWR Ratings. The stock has an overall grade of B, translating to a Buy in our proprietary rating system.
The stock has a B grade for Sentiment and Quality. It is ranked #10 among the 42 stocks within the B-rated Miners - Gold industry.
<a href="https://stocknews.com/stock/GOLD/">Click here</a> to check other GOLD ratings (Growth, Value, Stability, and Momentum).
Stock #1: Kinross Gold Corporation (<a href="https://stocknews.com/stock/KGC/">KGC</a>)
Headquartered in Toronto, Canada, KGC acquires, explores, and develops gold properties. The company operates several mines consisting of the Fort Knox mine and the Manh Choh project in Alaska, the Round Mountain and the Bald Mountain mines in Nevada, the U.S., the Paracatu mine in Brazil, and the La Coipa and the Lobo-Marte project in Chile.
On September 10, KGC completed a Preliminary Economic Assessment for the Great Bear project, which supports its strategy to acquire a top-tier, high-margin operation in a stable jurisdiction with robust infrastructure. The project is expected to produce over 500,000 ounces per year in the initial 8 years, achieving an all-in-sustaining cost (AISC) of approximately $800 per ounce.
During the second quarter that ended June 30, 2024, KGC's metal sales increased 11.6% year-over-year to $1.22 billion. The company's operating earnings grew 25.4% from the year-ago value to $298.30 million. Also, adjusted net earnings attributable to common shareholders stood at $174.70 million, up 4.2% year-over-year, while its adjusted EPS was $0.14 for the period.
Also, the company's attributable free cash flow increased 33.9% year-over-year to $345.90 million.
Analysts expect KGC's revenue and EPS for the third quarter (ending September 2024) to increase 10.2% and 32.4% year-over-year to $1.22 billion and $0.16, respectively. Furthermore, it has topped the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
Shares of KGC have gained 63.8% over the past six months and 72% over the past year to close the last trading session at $8.91.
KGC's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
KGC has a B grade for Quality, Growth, and Sentiment. It is ranked #6 out of 42 stocks in the same industry.
To check other POWR Ratings of KGC for Momentum, Value, and Stability, <a href="https://stocknews.com/stock/KGC/">click here</a>.
What To Do Next?
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<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
AEM shares were unchanged in after-hours trading Monday. Year-to-date, AEM has gained 61.23%, versus a 23.35% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/aem-gold-kgc-3-top-gold-mining-stocks-as-inflation-hedge-in-2024/>3 Top Gold Mining Stocks as Inflation Hedge in 2024</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Top Gold Mining Stocks as Inflation Hedge in 2024

As market uncertainty escalates due to geopolitical tensions and economic instability, gold continues to shine as a reliable safe haven asset. With increasing industrial demand and expectations for price appreciation, investing in gold stocks, AngloGold Ashanti (AU), Agnico Eagle Mines (AEM), and Barrick Gold (GOLD) could provide a strategic safeguard. Read on… Gold has a longstanding reputation as a safe haven asset. As market volatility increases and industrial demand grows, gold continues to be viewed as a secure investment option, leading to expectations of further price appreciation.
That said, investing in gold stocks, AngloGold Ashanti plc (<a href="https://stocknews.com/stock/AU/">AU</a>), Agnico Eagle Mines Limited (<a href="https://stocknews.com/stock/AEM/">AEM</a>) and Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>), could offer significant advantages. These companies' resilience amid market fluctuations positions them well to capitalize on gold's rising value.
As the election season heats up, it's anticipated that the markets will experience heightened uncertainty, a phenomenon that usually accompanies Presidential election cycles. This year, however, experts expect a degree of market volatility unseen <a href="https://www.forbes.com/sites/jasonschenker/2024/10/14/us-presidential-election-outcome-uncertainty-could-roil-markets/">since the year 2000</a>, adding weight to the economic climate's unpredictability.
Further fueling this uncertain environment are the ongoing conflicts in the Middle East and the Ukraine-Russia crisis. The geopolitical tensions are injecting instability into global markets, intensifying concerns for investors. However, during periods of economic uncertainty, investors traditionally flock to gold, prized for its historical resilience.
Gold serves as <a href="https://www.investopedia.com/financial-edge/0311/what-drives-the-price-of-gold.aspx#:~:text=Gold%20is%20often%20considered%20a%20safe%20haven%20for,against%20economic%20events%20like%20currency%20devaluation%20or%20inflation.">a "safe haven" asset</a>, offering financial security when other investments falter. For many, it remains a preferred safeguard amid political upheaval and economic instability. This sentiment has driven gold's exceptional performance in 2024, with prices reaching unprecedented levels.
In March, the price per ounce surged to $2,160, an 8% increase from December 2023. This upward trajectory marked the beginning of gold's remarkable rally, fueled by strong investor demand and market fears. The trend continued through the year, with gold setting record highs almost monthly.
The price now hovers <a href="https://www.msn.com/en-us/money/other/gold-prices-are-closing-in-on-2-800-should-you-buy-in-now/ar-AA1sFcnR?ocid=BingNewsVerp">near $2,800 per ounce</a>, a testament to the commodity's enduring allure. Many analysts expect this rally to extend further, with predictions that gold could reach $3,000 per ounce by year's end.
Gold's value isn't solely anchored in its role as a safe investment. Increasingly, it's used across industries such as electronics and healthcare, where technological advancements rely on gold's unique properties. This surge in industrial demand promises further price support, cementing gold's role as a versatile asset.
Given these trends, let's dive deep into the fundamentals of three <a href="https://stocknews.com/category/gold-miners/">Miners – Gold</a> stocks, beginning with #3.
Stock #3: AngloGold Ashanti plc (<a href="https://stocknews.com/stock/AU/">AU</a>)
AU is a prominent gold mining company operating across Africa, Australia, and the Americas. The company focuses on gold exploration and also produces silver and sulphuric acid as by-products. Its key asset is the Geita mine, fully owned and located in the Lake Victoria goldfields of Tanzania's Mwanza region.
AU's trailing-12-month EBITDA margin of 30.09% is 81.9% higher than the industry average of 16.54%. Its trailing-12-month EBIT margin of 17.44% is 62% higher than the sector average of 10.77%. Likewise, the stock's ROTC of 8.74% is 74.6% higher than the industry average of 5%.
For the fiscal 2024 second quarter that ended on June 30, AU's revenue from product sales increased 19.3% year-over-year to $1.38 billion. Its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> grew 84.6% from the year-ago value to $467 million.
Moreover, the company's profit for the period and earnings per ordinary share came in at $262 million and $0.60, compared to a net loss and loss per share of $81 million and $0.20 in the prior year's quarter, respectively.
Analysts expect AU's revenue for the fiscal year ending December 2025 to increase 15.4% year-over-year to $6.57 billion. Its EPS for the same period is expected to rise 5.6% from the prior year to $2.92.
Shares of AU have surged 36.7% over the past six months and 60.4% over the past year to close the last trading session at $29.97.
AU's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust fundamentals. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
AU has an A grade for Growth and a B for Quality. It is ranked #15 out of 42 stocks within the B-rated <a href="https://stocknews.com/category/gold-miners/">Miners – Gold</a> industry.
To check AU's ratings for Sentiment, Value, Momentum, and Stability, <a href="https://stocknews.com/stock/AU/">click here</a>.
Stock #2: Agnico Eagle Mines Limited (<a href="https://stocknews.com/stock/AEM/">AEM</a>)
AEM, based in Toronto, Canada, produces precious metals from its diverse operations in Canada, Australia, Finland, and Mexico. It has a robust pipeline of exploration and development projects across these regions, as well as in the United States. Notable operations include the Canadian Malartic Complex, Detour Lake, and Fosterville.
On June 24, AEM <a href="https://www.agnicoeagle.com/English/investor-relations/news-and-events/news-releases/news-release-details/2024/AGNICO-EAGLE-ANNOUNCES-ADDITIONAL-INVESTMENT-IN-MAPLE-GOLD-MINES-LTD/default.aspx">announced the acquisition</a> of 33,821,842 common shares of Maple Gold Mines Ltd. at a price of $0.085 per share, for a transaction value of approximately $2.87 million. The acquisition could enhance AEM's investment in resource assets and support its long-term growth in the mining sector.
On June 19, AEM <a href="https://www.agnicoeagle.com/English/investor-relations/news-and-events/news-releases/news-release-details/2024/AGNICO-EAGLE-RELEASES-DETOUR-LAKE-PROPOSED-UNDERGROUND-MINING-PLAN-DEMONSTRATING-STRONG-RETURNS-AND-PATHWAY-TO-ANNUAL-GOLD-PRODUCTION-OF-ONE-MILLION-OUNCES/default.aspx">provided an update</a> on the Detour Lake mine in Ontario, where it plans to initiate a conversion and expansion drill program targeting the western plunge of the mineralization. With a long mineral reserve life and substantial production base at both Detour Lake and Canadian Malartic, AEM is expected to strengthen its production profile and potentially ensure sustained value for years ahead.
AEM's trailing-12-month gross profit margin of 57.76% is 103.8% higher than the industry average of 28.3%. The stock's trailing-12-month levered FCF margin of 18.30% is 261.1% higher than the sector average of 5.07%. Additionally, its trailing-12-month EBITDA margin of 49.97% is 202.1% higher than the 16.54% industry average.
For the fiscal second quarter that ended on June 30, 2024, AEM's revenues from mining operations increased 20.9% year-over-year to $2.08 billion. Its adjusted EBITDA grew 32.9% from the year-ago value to $1.18 billion.
Plus, the company's adjusted net income for the period rose 68.3% from the prior year's quarter to $535.27 million. Meanwhile, AEM's adjusted net income per share came in at $1.07, up 67.2% year-over-year.
Street expects AEM's revenue and EPS for the fiscal third quarter (ended September 2024) to grow 28.7% and 133% year-over-year to $2.11 billion and $1.03, respectively. Moreover, the company topped the consensus revenue and EPS estimates in each of the trailing four quarters, which is noteworthy.
AEM's shares have surged 38.1% over the past six months and 77.9% over the past year to close the last trading session at $87.93.
AEM's solid prospects are projected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
AEM has an A grade for Sentiment and a B for Growth. It is ranked #12 within the same industry.
<a href="https://stocknews.com/stock/AEM/">Click here</a> to see AEM's ratings for Quality, Value, Momentum, and Stability.
Stock #1: Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>)
GOLD, headquartered in Toronto, Canada, explores, develops, produces, and sells gold and copper properties both in Canada and internationally. The company further explores and sells silver and energy materials. Its key operations encompass Nevada Gold Mines, Bulyanhulu, Hemlo, and several others across various countries.
On October 16, GOLD reported <a href="https://www.barrick.com/English/news/news-details/2024/barrick-reports-q3-preliminary-production-results-with-continued-improvement-at-pueblo-viejo/default.aspx">preliminary third-quarter production</a> of 943,000 ounces of gold and 48,000 tonnes of copper, with sales reaching 967,000 ounces of gold and 42,000 tonnes of copper. This performance, along with a projected stronger fourth quarter, is expected to help GOLD meet its full-year production goals, bolstering its revenue outlook.
On October 2, GOLD <a href="https://www.barrick.com/English/news/news-details/2024/lumwana-super-pit-expansion-officially-launched/default.aspx">announced the launch</a> of a $2 billion Super Pit project at its Lumwana copper mine, inaugurated by Zambian President Hakainde Hichilema. Expected to begin construction in 2025, the development could grow GOLD's copper output, strengthening its asset base and supporting long-term growth in the copper market.
GOLD's trailing-12-month EBITDA margin of 44.69% is 170.2% higher than the industry average of 16.54%. Its trailing-12-month levered FCF margin of 8.53% is 68.3% higher than the sector average of 5.1%. Furthermore, the stock's trailing-12-month net income margin of 12.78% is 156.9% higher than the 4.98% industry average.
GOLD's revenues for the fiscal 2024 second quarter, which ended June 30, increased 11.6% year-over-year to $3.16 billion. Its attributable EBITDA grew 30.5% from the year-ago value to $1.29 billion. Furthermore, the company's adjusted net earnings and adjusted net earnings per share rose 65.8% and 68.4% from the prior year's period to $557 million and $0.32, respectively.
The consensus revenue estimate of $3.34 billion for the fiscal third quarter (ended September 2024) reflects a year-over-year rise of 16.6%. Its EPS for the same period is expected to increase 31.4% from the prior year to $0.32. Moreover, the company has surpassed the consensus EPS estimates in all four trailing quarters.
GOLD's stock has surged 23% over the past six months and 30.8% over the past nine months to close the last trading session at $20.32.
GOLD's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has a B grade for Sentiment and Quality. GOLD is ranked #10 out of 42 stocks within the Miners – Gold industry.
<a href="https://stocknews.com/stock/GOLD/">Click here</a> to check out additional GOLD ratings for Growth, Value, Stability, and Momentum.
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<hr />
AEM shares fell $1.78 (-2.02%) in premarket trading Friday. Year-to-date, AEM has gained 63.40%, versus a 23.01% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/aem-gold-au-3-gold-stocks-to-hedge-against-market-uncertainty-45021328/>3 Gold Stocks to Hedge Against Market Uncertainty</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Gold Stocks to Hedge Against Market Uncertainty

CIBC analyst Anita Soni reiterated a Buy rating on Agnico Eagle (AEM – Research Report) yesterday and set a price target of $102.00. The company's ...

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