Agnico-Eagle’s Profits Skyrocket, Stock in Favorable Buying Position

Agnico-Eagle’s Profits Skyrocket, Stock in Favorable Buying Position

IBD’s group of gold, silver and gemstone mining companies includes 74 companies. Agnico-Eagle Mines (AEM) ranks #1 on this list. And it’s in a new shopping area. The mining company is taking advantage of the market’s renewed interest in this shiny metal.

Agnico-Eagle Shares Relative Strength Rating (RS) moved to a higher percentile on Tuesday, with an increase from 75 to 81, hitting an important milestone along the way.


The Relative Strength Rating of 81 shows that Agnico-Eagle stock ranks among the top 19% in terms of price improvement over the past year. The rating of 81 shows unusual strength. Market research reveals that stocks that make the biggest gains typically have an RS Rating of 80 or higher when they launch their biggest rallies.

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Gold mining company Agnico-Eagle’s other stock ratings really shine

As for its other ratings, Agnico-Eagle boasts a formidable 96 Composite score, out of 99. This shows the overall strength. He has a hearty 92 Earnings per share rating. Moreover, its B SMR rating (sales + profit margins + return on equity) reflects its strong fundamentals.

Perhaps most telling is that he has the highest possible A+. Accumulation/distribution rate, a measure of institutional purchases by university funds, mutual funds, etc. Institutions account for about 70% of all stock trading, so the A+ rating is very bullish.

Agnico-Eagle stock is in a buy zone after climbing above a 56.43 entry in a consolidation in March. On March 13, shares of the gold mining company broke out of a short-cut base that began in December. The recommended buy zone goes up to 5% above the buy point.

On Monday, it closed at 61:30, also removing the 61:15 entry for a longer-term cup-with-handle base that began in May. On Tuesday, shares of gold mining companies rose further above that point, then fell back in sync with the market’s decline.

Growing sales and profit growth

In terms of sales and bottom line results, Agnico-Eagle Mines posted accelerated profit growth for two quarters. Income gains also increased during the same period.

In its most recent quarter, the gold mining company reported a 50% rise in profit to 57 cents per share on a 27% rise in revenue to $1.76 billion. Agnico-Eagle Mines is expected to release its next quarterly figures around April 25.

Agnico-Eagle Mines ranks first among its peers in the industry group of 74 mining stocks, gold, silver and precious stones, according to IBD Stock Checkup. Eldorado Gold (AEM) is the value n°2 of the group and Gold Alamos (AGI) is #3.

Please follow James DeTar on X, formerly known as Twitter, @JimDeTar


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