There are 74 companies in IBD's gold, silver and gems mining companies group. Agnico-Eagle Mines ranks No. 1 on that list. And it's in a fresh buy zone. The mining company is riding high on the market's renewed interest in the shiny metal.
Agnico-Eagle stock's Relative Strength (RS) Rating jumped into a higher percentile Tuesday, with an increase from 75 to 81, passing a milestone along the way.
The 81 Relative Strength Rating shows that Agnico-Eagle stock is in the top 19% for price improvement this past year. The 81 rating shows unusual strength. Market research reveals that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they launch their biggest climbs.
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Gold Miner Agnico-Eagle's Other Stock Ratings Really Shine
Regarding its other ratings Agnico-Eagle boasts a terrific 96 Composite Rating, out of 99. That shows overall strength. It has a hearty 92 Earnings Per Share Rating. Additionally, its B SMR Rating (sales + profit margins + return on equity) reflects its strong fundamentals.
Perhaps most tellingly, it has a best-possible A+ Accumulation/Distribution Rating, a gauge of institutional buying by university funds, mutual funds and the like. Institutions account for around 70% of all stock trades so the A+ rating is very bullish.
Agnico-Eagle stock is within a buy zone after climbing above a 56.43 entry in a consolidation in March. On March 13 the gold mining company's stock broke out of a short cup 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 taking out the 61.15 entry for a longer-term cup-with-handle base that started in May. Tuesday the gold miner stock rose further above that point then retreated in sync with the market pullback.
Rising Growth In Both Sales, Profits
Regarding top and bottom line numbers, Agnico-Eagle Mines has posted two quarters of accelerating earnings growth. Revenue gains have also moved higher during the same period.
In its most recent quarter the gold mining company reported a 50% surge in earnings to 57 cents per share on a 27% jump in revenue to $1.76 billion. Agnico-Eagle Mines is expected to release its next quarterly numbers on or around April 25.
Agnico-Eagle Mines holds the No. 1 rank among its peers in the 74-stock Mining-Gold/Silver/Gems industry group, according to IBD Stock Checkup. Eldorado Gold is the No. 2-ranked stock in the group and Alamos Gold is No. 3.
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