Agnico Eagle Mines (NYSE:AEM) Stock, Quote.Headers.trade-ideas

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.

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GOLD

Newmont Corporation&#39;s (NYSE: NEM) shares have rallied 24.8% in the past three months, outperforming the Zacks Mining – Gold industry&#39;s rise of 12.4%.

Does Newmont&#39;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?

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

JPMorgan Analysis

Market Vectors ETF Trust Market Vectors Gold Miners

GLDM

IAUM

Mohamed El-Erian, Chief Economic Advisor at Allianz, highlighted on X that gold is trading within $5 of a new record high.

Mohamed El-Erian Observes Spike In Gold Says, Precious Metal &#39;Trading Within $5 Of A New Record High&#39;

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

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Amundi Index MSCI EM ETF USD D

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

WIIM

RGLD

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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

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Hycroft Mining Holding Corporation - Class A Common Stock

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PAAS

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>

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>

CGAU

SBSW

Shares of precious metal companies are trading lower amid a drop in the price of gold. Weakness in the commodity may be due to August's ISM Manufacturing PMI data indicating an economic contraction and pending non-farm payrolls data that may determine the size of future rate cuts.

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 1.25% on an annualized basis producing an average annual return of 9.63%. Currently, Agnico Eagle Mines has a market capitalization of $40.78 billion. 
Buying $100 In AEM: If an investor had bought $100 of AEM stock 20 years ago, it would be worth $611.67 today based on a price of $81.58 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/2024/1724792460_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.

Mohamed El-Erian, Chief Economic Advisor at Allianz, highlighted on X writing &#8220;Gold is trading within $5 of a new record high.&#8221;
What Happened: El-Erian posted a screenshot showing gold prices at $2524.06, reflecting a 5.87% gain. The lowest close was recorded at $2369.31 on Aug. 5, with a 30-day average price of $2453.21. 
Gold mining stocks have recently experienced a notable surge in value. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), which includes holdings like Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), Agnico Eagle Mines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>), and Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), has risen by 26.51% this year, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro data</a>.
Similarly, other ETFs such as SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>), iShares Gold Trust Micro Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUM#NYSE">IAUM</a>), and iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) have also seen gains of over 21% this year.
Historically, gold reached an all-time high of $2,531.70 in August. The precious metal last traded at $2,509, and December futures contracts are currently trading at $2,543.70, down 0.45%. Year to date, gold prices have gained approximately 22.3%.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Gold is trading within $5 of a new record high.<a href="https://twitter.com/hashtag/economy?src=hash&amp;ref_src=twsrc%5Etfw">#economy</a> <a href="https://twitter.com/hashtag/markets?src=hash&amp;ref_src=twsrc%5Etfw">#markets</a> <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> <a href="https://twitter.com/hashtag/econtwitter?src=hash&amp;ref_src=twsrc%5Etfw">#econtwitter</a> <a href="https://t.co/hzcQCutV9a">pic.twitter.com/hzcQCutV9a</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1828048988072816986?ref_src=twsrc%5Etfw">August 26, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/asia/24/08/40563191/nasdaq-100-falls-1-tests-50-day-average-support-tech-stocks-in-flux-on-monday">Nasdaq 100 Falls 1%, Tests 50-Day Average Support: Tech Stocks In Flux On Monday</a>
Why It Matters: The recent rise in gold prices follows a series of bullish predictions and market movements. Last week, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40457722/gold-is-getting-its-moment-in-the-sun-and-experts-say-the-record-high-prices-could-">experts noted</a> that gold had surged approximately 20% this year, reaching a record high. Ole Hansen, head of commodity strategy at Saxo Bank, highlighted that gold has been in an "uninterrupted rally" since October when it was priced at $1,810 an ounce.
Further bolstering this trend, Ryan McIntyre, Managing Partner at Sprott Inc., predicted that gold prices would remain &#8220;very positive&#8221; for <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40509313/expert-predicts-gold-to-be-very-positive-for-next-18-months-a-whole-new-source-of-m">the next 18 months</a>. He attributed this to increased buying by central banks and recent inflows into ETFs backed by gold.
Adding to the optimistic outlook, J.P. Morgan Research estimated that gold would exceed $2,500 per ounce by the end of 2024, with predictions that it would reach $2,600 per ounce by 2025. This forecast underscores gold&#8217;s role as a safe investment, <a href="https://www.benzinga.com/startups/24/08/40550668/jpmorgan-predicts-2-600-gold-prices-by-2025-what-a-1-million-gold-bar-means-for-the-market">especially amid economic uncertainty</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40541513/bitcoin-atm-market-is-undergoing-necessary-correction-coinflip-founder-daniel-polotsky-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin ATM Market Is Undergoing &#8216;Necessary Correction,&#8217; CoinFlip Founder Daniel Polotsky Says</a></li>
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Mohamed El-Erian Observes Spike In Gold Says, Precious Metal 'Trading Within $5 Of A New Record High'

Shares of DuPont de Nemours, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dd#NYSE">DD</a>) have gained 16.5% over the past six months. The company has also outperformed its industry&#39;s rise of 4.5% over the same time frame. DD has also topped the S&amp;P 500&#39;s roughly 9.5% increase over the same period.
Let&#39;s take a look into the factors that are driving this Zacks Rank #3 (Hold) stock.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/9e/75314.jpg?v=1935823926" />
Image Source: Zacks Investment Research
<h2>Productivity, Innovation &amp; Acquisitions Aid DD</h2>
DuPont is benefiting from its innovation-driven investment, productivity actions and acquisitions. The company remains focused on driving growth through innovation and new product development. Its innovation-driven investment is focused on several high-growth areas. DD remains committed to driving returns from its R&amp;D investment.
DuPont, in August 2023, completed the buyout of leading manufacturer of specialty medical devices and components, Spectrum Plastics Group from AEA Investors for $1.75 billion. The acquisition strengthens DuPont&#39;s existing position in stable and fast-growing healthcare end markets. It is also in sync with its focus on high-growth, customer-driven innovation for the healthcare market.
The buyout of Donatelle Plastics also enhances DD&#39;s exposure in healthcare, expanding its expertise in the medical device market segments. The acquisition introduces complementary advanced technologies and capabilities, such as medical device injection molding, liquid silicone rubber processing, precision machining, device assembly and tool building.
Moreover, DuPont is benefiting from cost synergy savings and productivity improvement actions. The benefits of its structural cost actions are expected to be realized in 2024. DD also continues to implement strategic price increases in the wake of cost inflation. These actions are likely to support its results. DuPont is also executing additional restructuring actions and expects annualized cost savings of $150 million from these measures with nearly $115 million anticipated in 2024.
Earnings estimates for DD have also been going up over the past 60 days, reflecting analysts&#39; optimism. The Zacks Consensus Estimate for 2024 has increased around 2.5%. The consensus estimate for 2025 has also been revised 1.7% upward over the same time frame.
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<h3>DuPont de Nemours, Inc. Price and Consensus</h3>
<img alt="DuPont de Nemours, Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/5b/1724661811.png" style="height:265px; width:576px" title="" />
DuPont de Nemours, Inc. price-consensus-chart | DuPont de Nemours, Inc. Quote
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<h2>Stocks to Consider</h2>
Better-ranked stocks in the Basic Materials space are Newmont Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>), Element Solutions Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/esi#NYSE">ESI</a>) and Agnico Eagle Mines Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aem#NYSE">AEM</a>). Newmont and Element Solutions sport a Zacks Rank #1 (Strong Buy), and Agnico Eagle carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Newmont&#39;s current-year earnings is pegged at $2.82, indicating a rise of 75.2% from year-ago levels. The Zacks Consensus Estimate for NEM&#39;s earnings has increased 16% in the past 60 days. The stock has rallied around 33% in the past year.
The consensus estimate for Element Solutions&#39; current-year earnings has increased by 0.7% in the past 60 days. ESI beat the consensus estimate in three of the last four quarters while delivering in-line results on the other occasion. In this timeframe, it delivered an earnings surprise of around 3.8%, on average.
The Zacks Consensus Estimate for Agnico Eagle&#39;s current-year earnings is pegged at $3.65, indicating a year-over-year rise of 63.7%. AEM&#39;s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 15.7%. The company&#39;s shares have rallied roughly 71% in the past year.
<a href="https://www.zacks.com/stock/news/2326935/dupont-dd-shares-up-17-in-6-months-what-s-driving-the-stock?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2326935">To read this article on Zacks.com click here.</a>

Earnings Beats

DuPont Shares Up 17% in 6 Months: What's Driving the Stock?

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 11 options trades for Agnico Eagle Mines.
This isn't normal.
The overall sentiment of these big-money traders is split between 18% bullish and 72%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $66,220, and 10, calls, for a total amount of $576,704.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $85.0 to $90.0 for Agnico Eagle Mines over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Agnico Eagle Mines's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Agnico Eagle Mines's whale trades within a strike price range from $85.0 to $90.0 in 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/2024/1724426136_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</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>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$4.4</td>
<td>$4.2</td>
<td>$4.22</td>
<td>$90.00</td>
<td>$105.2K</td>
<td>6.9K</td>
<td>737</td>
</tr>
<tr>
<td>AEM</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$4.4</td>
<td>$4.2</td>
<td>$4.3</td>
<td>$90.00</td>
<td>$101.9K</td>
<td>6.9K</td>
<td>1.4K</td>
</tr>
<tr>
<td>AEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$4.4</td>
<td>$4.2</td>
<td>$4.24</td>
<td>$90.00</td>
<td>$84.1K</td>
<td>6.9K</td>
<td>537</td>
</tr>
<tr>
<td>AEM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$8.8</td>
<td>$8.6</td>
<td>$8.6</td>
<td>$90.00</td>
<td>$66.2K</td>
<td>0</td>
<td>2</td>
</tr>
<tr>
<td>AEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$4.4</td>
<td>$4.2</td>
<td>$4.24</td>
<td>$90.00</td>
<td>$63.7K</td>
<td>6.9K</td>
<td>451</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.
Following our analysis of the options activities associated with Agnico Eagle Mines, we pivot to a closer look at the company's own performance.
<h3>Current Position of Agnico Eagle Mines</h3>
<ul>
<li>Currently trading with a volume of 452,118, the AEM's price is up by 1.26%, now at $82.5. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 61 days.</li>
</ul>
<h3>Expert Opinions on Agnico Eagle Mines</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $94.0.
<ul>
<li>Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Agnico Eagle Mines, targeting a price of $94. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Agnico Eagle Mines, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Behind the Scenes of Agnico Eagle Mines's Latest Options Trends

Deep-pocketed investors have adopted a bearish approach towards Agnico Eagle Mines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AEM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Agnico Eagle Mines. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 50% bearish. Among these notable options, 3 are puts, totaling $288,590, and 5 are calls, amounting to $296,890.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $95.0 for Agnico Eagle Mines over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Agnico Eagle Mines's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Agnico Eagle Mines's whale activity within a strike price range from $55.0 to $95.0 in 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/2024/1724344422_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</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 style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AEM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$15.1</td>
<td>$14.9</td>
<td>$15.1</td>
<td>$95.00</td>
<td>$202.3K</td>
<td>65</td>
<td style="text-align: right;">135</td>
</tr>
<tr>
<td>AEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$10.8</td>
<td>$10.6</td>
<td>$10.8</td>
<td>$75.00</td>
<td>$91.8K</td>
<td>7.1K</td>
<td style="text-align: right;">69</td>
</tr>
<tr>
<td>AEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$4.1</td>
<td>$3.5</td>
<td>$3.5</td>
<td>$85.00</td>
<td>$87.5K</td>
<td>1.9K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>AEM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$2.4</td>
<td>$2.25</td>
<td>$2.35</td>
<td>$80.00</td>
<td>$58.7K</td>
<td>777</td>
<td style="text-align: right;">203</td>
</tr>
<tr>
<td>AEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$10.8</td>
<td>$10.7</td>
<td>$10.8</td>
<td>$75.00</td>
<td>$57.2K</td>
<td>7.1K</td>
<td style="text-align: right;">69</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.
Following our analysis of the options activities associated with Agnico Eagle Mines, we pivot to a closer look at the company's own performance.
<h3>Agnico Eagle Mines's Current Market Status</h3>
<ul>
<li>Trading volume stands at 810,514, with AEM's price down by -1.41%, positioned at $81.53.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 62 days.</li>
</ul>
<h3>What The Experts Say 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 $94.0.
<ul>
<li>An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Agnico Eagle Mines, which currently sits at a price target of $94. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Agnico Eagle Mines with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

This Is What Whales Are Betting On Agnico Eagle Mines

FMC Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fmc#NYSE">FMC</a>) recently filed regulatory applications for the Dodhylex active herbicide in eight rice-growing countries. Registration dossiers were submitted in India, Brazil, the Philippines, the United States, Colombia, South Korea, Peru and Taiwan, accounting for roughly 35% of the estimated 165 million hectares of planted rice worldwide. Dodhylex active regulatory filings are planned for a number of other significant global markets.
The Herbicide Resistance Action Committee and the Weed Science Society of America have categorized Dodhylex active, FMC&#39;s brand name, as tetflupyrolimet, which is a Group 28 herbicide, thereby making it the first novel mode of action herbicide globally in more than three decades. Dodhylex active will be a significant new rotational tool for farmers to manage herbicide resistance, which is becoming an increasingly difficult concern for growers around the world.
Dodhylex active is a key improvement for the agriculture industry because it combats resistant grass weeds. According to studies, this proprietary molecule provides season-long control of resistant grass weeds in rice, irrespective of cultivation method. FMC is continuing to evaluate the application of Dodhylex active in other crops such as sugarcane, wheat, soybeans and corn.
FMC&#39;s innovation and methodical approach to develop novel molecules to facilitate food security for an expanding population and fight resistance are demonstrated by the discovery and development of Dodhylex active at the Stine Research Centre. Subject to regulatory decisions, FMC expects the first launches of Dodhylex in 2026.
Shares of FMC have lost 28.5% over the past year compared with its industry&#39;s 6.5% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ed/74850.jpg?v=386357879" />
Image Source: Zacks Investment Research
FMC, on its second-quarter call, updated its revenue outlook for full-year 2024 and now expects revenues to be between $4.30 billion and $4.50 billion, indicating a 2% decline at the midpoint from 2023. Adjusted EBITDA is now expected to be in the range of $880- $940 million, indicating a 7% decline at the midpoint from the prior year. Adjusted earnings per share are now forecast to be between $3.02 and $3.64, implying a 12% year-over-year decline at the midpoint. Full-year free cash flow is anticipated to be in the band of $400-$500 million.
FMC also forecasts third-quarter revenues to be between $1 billion and $1.09 billion, indicating a 6% increase at the midpoint from the third quarter of 2023. Adjusted EBITDA is forecast to be in the band of $165-$195 million, indicating a 3% rise from the prior-year level. Adjusted earnings per share are expected to be in the range of 39-67 cents, indicating a 20% rise at the midpoint from the third-quarter 2023 level.
<div class="chart_embed">
<h3>FMC Corporation Price and Consensus</h3>
<h3><img alt="FMC Corporation Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/d5/1724238098.png" style="height:265px; width:577px" title="" /></h3>
FMC Corporation price-consensus-chart | FMC Corporation Quote
</div>
<h3>Zacks Rank &amp; Key Picks</h3>
FMC currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space are Carpenter Technology Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crs#NYSE">CRS</a>), Eldorado Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>) and Agnico Eagle Mines Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aem#NYSE">AEM</a>).
CRS beat the Zacks Consensus Estimate in the last four quarters, with the average earnings surprise being 15.9%. The company&#39;s shares have gained 154.7% in the past year.&nbsp; Carpenter Technology currently sports a Zacks Rank #1 (Strong Buy).
The Zacks Consensus Estimate for Eldorado&#39;s current-year earnings is pegged at $1.32 per share, indicating a year-over-year rise of 131.6%. The consensus estimate for EGO&#39;s current-year earnings has gone up in the past 30 days.
EGO, which currently sports a Zacks Rank of 1, beat the consensus estimate in the last four quarters, with the average earnings surprise being 430.3%. The company&#39;s shares have gained roughly 107.3% in the past year.
Agnico Eagle Mines currently carries a Zacks Rank #2 (Buy). AEM beat the Zacks Consensus Estimate in the last four quarters, with the average earnings surprise being 15.7%. The company&#39;s shares have gained 73.5% in the past year.
<a href="https://www.zacks.com/stock/news/2324887/fmc-submits-regulatory-applications-for-dodhylex-active?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2324887">To read this article on Zacks.com click here.</a>

Mid Cap

Regulations

FMC Submits Regulatory Applications for Dodhylex Active

Editor&#8217;s name: This story has been updated to correct the spelling of Alamos Gold CEO John McCluskey&#8217;s name. 
Gold mining companies are ramping up <a href="https://www.benzinga.com/m-a/24/08/40309407/gold-fields-acquires-osisko-mining-for-1-57b-secures-control-over-highly-prospective-windfall-projec">M&amp;A activity</a> as record gold prices boost the free cash flow they can use to make deals.
As older mines become depleted and mining costs rise, quickly adding ounces in the ground is tempting, but it also adds the risk of paying too much or having trouble incorporating assets.
In the latest merger in the gold mining sector, Gold Fields Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) said it plans to buy Osisko Mining Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OBNNF#OTC">OBNNF</a>) for $1.57 billion in cash, giving the acquirer full ownership of the Windfall gold project in Canada.
&#8220;Deposits with the scale and quality of Windfall, combined with a world-class jurisdiction like Québec, are extremely rare," Gold Fields CEO&nbsp;Mike Fraser said in a prepared statement.
Also Read: <a href="https://www.benzinga.com/news/earnings/24/08/40349152/barrick-ceo-on-high-gold-prices-why-he-says-the-miner-is-undervalued-you-get-a-lot-for-free">Barrick CEO On High Gold Prices, Why He Says The Miner Is Undervalued: &#8216;You Get A Lot For Free&#8217;</a>
As gold companies rake in free cash flow from high gold prices, a big question this earnings season has been how they will allocate those funds, Bank of America analysts said in a note. Options include returning money to shareholders with dividends or share buybacks, exploring for gold and developing mines themselves, or buying other miners to bulk up on deposits quickly.
"Depleting resources, declining supply in old mines and the lack of new mines have been inherent threats to the industry," a Zacks Equity Research note said. "Due to the scarcity of discoveries and {exhausting of) existing resources, miners prefer building up reserves through acquisitions rather than digging new ones that are risky and capital-intensive."
On Friday, gold futures hit a record above $2,500 per ounce amid expectations of Federal Reserve rate cuts. The surge in the precious metal boosted gold mining stocks, with the&nbsp;VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rising 3.08% in Friday afternoon trading, as of last check.
<h1 class="wp-block-heading">A Feeding Frenzy for Assets</h1>
Gold deals last year included Pan American Silver Corp.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NASDAQ">PAAS</a>) and Agnico Eagle Mines Ltd.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>) purchase of Yamana Gold Inc. in a $4.8 billion cash-and-stock deal. But the blockbuster was the biggest-ever gold merger when Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) bought Newcrest Mining Ltd. for nearly $17 billion.
The Newmont-Newcrest deal is sparking further interest in gold M&amp;A, as Newmont said it intends to sell eight mines, including two it acquired from Newcrest, to help pay down debt and focus on top-tier mines and a two-year share repurchase program.&nbsp;
Newmont CEO Tom Palmer in a recent conference call said 20 parties made bids for its Akyem property in Ghana, and seven of those companies are preparing bids for the second phase of the sale process.&nbsp;
"We're certainly seeing a competitive process and good value coming through," he said.
Meanwhile, the company had 67 parties participate in the first phase of the sales process for its&nbsp;Cripple Creek &amp; Victor, Éléonore, Porcupine, Musselwhite and Coffee mines in Canada. There were "around" 24 bids submitted, he said.
"We've had a range of bids, from a single asset to a bundle of assets to the full portfolio," Palmer said. "And we are busily now having received those bids just in recent days, working through a process of assessing those, and determining, which parties we'll take into Phase 2. There's some very nice competition in that process."
In another example of how M&amp;A begets more M&amp;A, Alamos Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) last month closed a $325 million all-stock deal for Argonaut Gold. Assets that Alamos didn't want were spun out and sold to Heliostar Metals Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HSTXF#OTC">HSTXF</a>) and Integra Resources Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITRG#NYSE">ITRG</a>).
<h1 class="wp-block-heading">Copper to Continue to Play a Role</h1>
A trend in gold mining has been gold companies accumulating substantial amounts of copper. Copper is often found alongside gold in the earth's crust, and copper mine lives can run into decades, giving gold shareholders the promise of cash flow if gold deposits wane.
Additionally, copper is increasingly attractive to both base and precious metals mining companies as experts estimate demand for the metal will continue increasing as nations electrify their economies. Copper is widely used in wiring and electric vehicle batteries.
One of the reasons Newmont bought Newcrest was the latter's large holdings of copper, as the latter added nearly 50 billion pounds of copper reserves and resources to Newmont's books in one fell swoop.
In 2023, Agnico Eagle bought a 50% interest in a Mexican copper-zinc project from Teck Resources Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>).
Meanwhile, Barrick Gold Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)&nbsp;is spending nearly $2 billion to expand a copper mine in Zambia and $7 billion to build a copper and gold mine in Pakistan, with new production from both expected to begin in 2028.&nbsp;
John McCluskey, CEO of Alamos Gold, told Benzinga he thinks the largest gold companies will continue to scoop up copper assets as part of a broader decades-long gold M&amp;A trend.
"At the major end, you're going to find that," he said.
Now Read:&nbsp; • <a href="https://www.benzinga.com/government/24/08/40303994/global-gold-demand-hits-record-in-q2-as-investors-push-price-higher" target="_blank" rel="noreferrer noopener">Global Gold Demand Hits Record in Q2 As Investors Push Price Higher</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to&nbsp;<a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a>&nbsp;to get started!
Photo: Underground gold and copper mine. Photo by Jose Luis Stephens via Shutterstock.

Buybacks

Asset Sales

Global

HSTXF

ITRG

OBNNF

TECK

Gold Mining M&A Heats Up As Rising Metal Prices Boost Cash (CORRECTED)

Covestro AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/covty#OTC">COVTY</a>) and Carlisle Construction Materials&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/csl#NYSE">CSL</a>) are collaborating to bring bio-circular products into the construction industry. Covestro will provide Carlisle with methylene diphenyl diisocyanate (MDI) based on ISCC PLUS certified mass-balanced bio-circular raw materials with up to a 99% reduced product carbon footprint than fossil-based MDI.
It has a CO2 reduction potential of 2.4 kilograms (kgs) for every kg of MDI produced. This will allow Carlisle to manufacture high-performance polyiso insulating boards with lower embodied carbon.
Covestro and Carlisle&#39;s collaboration builds on a decades-long history of cooperative innovation in the construction industry. As sustainability goals for the built environment grow, the two companies are ready to create and introduce the next generation of insulating materials. Covestro will provide Carlisle with Mondur CQ 489 MS isocyanate. The CQ, or &quot;Circular Intelligence&quot; label refers to a broad range of Covestro&#39;s circular products that use at least 25% alternative raw materials produced from biomass or recycled plastics.
Carlisle plans to be net zero by 2050. Carlisle will produce bio-based rigid foam insulation with 5% bio-circular content for the SynTec, Versico, Hunter Panels and WeatherBond names. This advanced bio-based insulation is the newest addition to Carlisle Construction Materials&#39; line of sustainable building products.
Covestro operates ISCC PLUS-certified facilities in every major global market, including its manufacturing location in Baytown, TX. To fulfill its objective of being totally circular, Covestro aspires to be operationally climate-neutral (scopes 1 and 2) by 2035 and climate-neutral for scope 3 by 2050. The company currently offers hundreds of circular CQ items and is constantly increasing its product range.
Shares of Covestro have gained 16.3% over the past year compared with a 6.8% rise of its industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/75/74688.jpg?v=655243480" />
Image Source: Zacks Investment Research
<h3>Zacks Rank &amp; Key Picks</h3>
COVTY currently carries a Zacks Rank #4 (Sell).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crs#NYSE">CRS</a>), Eldorado Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>) and Agnico Eagle Mines Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aem#NYSE">AEM</a>).
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.9%. The company&#39;s shares have soared 154.7% in the past year.
The Zacks Consensus Estimate for Eldorado&#39;s current-year earnings is pegged at $1.32 per share, indicating a year-over-year rise of 131.6%. EGO, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company&#39;s shares have rallied roughly 107.3% in the past year.
Agnico Eagle Mines currently carries a Zacks Rank #2 (Buy). AEM beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.7%. The company&#39;s shares have soared 73.5% in the past year.
<a href="https://www.zacks.com/stock/news/2324140/covestro-covty-carlisle-tie-up-for-sustainable-construction?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2324140">To read this article on Zacks.com click here.</a>

COVTY

Covestro, Carlisle Tie Up for Sustainable Construction

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RING: Digging Up Profits By Investing In Gold Mining Shares

As gold is often seen as a safe-haven asset, gold mining companies tend to benefit when gold prices rise, offering a hedge against inflation, currency fluctuations, and geopolitical risks. Thus, amid this, it could be ideal to invest in solid gold stocks AngloGold Ashanti (AU), Agnico Eagle Mines (AEM), and Barrick Gold (GOLD) for portfolio safety. Continue reading... Federal Reserve's recent rate cuts have fueled the economy and thus boosted the gold market. The gold market is further poised to prosper with changing economic dynamics and geopolitical tensions in the Middle East.
Against this backdrop, it could be wise to buy fundamentally sound 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>) for portfolio safety.
Gold remains constant as a safe haven asset amid market volatility and economic downtrends, keeping its demand high among investors. Recently, the U.S. inflation data raised hopes of a rate cut next month, restraining the dollar below recent highs, and increasing gold demand stemmed from the geopolitical concerns in the Middle East lifting the bullion.
Last week, <a href="https://www.reuters.com/markets/commodities/gold-drifts-higher-after-data-supports-us-rate-cut-bets-2024-10-11/">spot gold rose 1.1% to $2,658.42 per ounce</a>, and U.S. gold futures were up 1.4%, settling at $2676.30. Also, the gold market is currently benefiting from the ongoing rising tensions in the Middle East, which has boosted bets for further <a href="https://www.reuters.com/markets/commodities/gold-breaks-2600-barrier-fed-cut-bets-prolong-historic-run-2024-09-20/">U.S. interest rate cuts</a>.
During the second quarter, with increasing mine production and recycling, <a href="https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q2-2024/supply">total gold supply grew 4%</a> year-over-year to 1,258.2 tonnes. Also, total gold supply was 1% higher year-over-year at 2,441t, driven by 2% growth in mine production. Recycled gold volumes in the second quarter increased 4% from the prior year.
Expanding gold production capabilities in mining areas, supply-demand dynamics, and current geopolitical factors are propelling the market growth. As per IMARC Group, the global gold market is expected to reach 3460.71 Tons by 2032, expanding at a <a href="https://www.imarcgroup.com/gold-pricing-report">CAGR of 1.6%</a>.
Amid this, demand for gold continues to jump and attract investors' attention. Its quality to act as a hedge against inflation and growth potential poises the mining industry for long-term growth and protects your portfolio.
Given these conducive industry trends, let's delve into the fundamentals of the top three <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> stocks, beginning with number 3.
Stock #3: AngloGold Ashanti plc (<a href="https://stocknews.com/stock/AU/">AU</a>)
AU operates as a gold mining company internationally. The company primarily explores for gold and produces silver and sulphuric acid as by-products. Its flagship property is a 100% owned Geita mine located in the Lake Victoria goldfields of the Mwanza region in north-western Tanzania.
AU's forward <a href="https://www.investopedia.com/terms/e/ev-ebitda.asp">EV/EBITDA</a> of 5.19x is 42% lower than the industry average of 8.96x. Likewise, the stock's forward non-GAAP P/E multiple of 9.98 is 40.3% lower than the industry average of 16.72. Similarly, its forward EV/EBIT of 7.87x is 45.7% lower than the industry average of 14.49x.
During the second quarter that ended June 30, 2024, AU's revenue from product sales increased 19.2% from the year-ago value to $1.38 billion. The company's gross profit grew 84.6% year-over-year to $467 million. Its profit for the period and EPS totaled $262 million and $60, compared to a loss for the period of $81 million and $20 per share during the prior year's quarter, respectively.
In addition, the company's adjusted EBITDA increased 92.1% year-over-year to $684 million, and its free cash flow was $183 million for the quarter.
Analysts expect AU's EPS for the fiscal year (ending December 2025) to grow 27.9% year-over-year to $3.48. The company's revenue for the same year is expected to increase 11.3% year-over-year to $6.27 billion. Shares of AU have soared 12% over the past six months and 43.6% over the past year to close the last trading session at $27.18.
AU'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.
AU has an A grade for Growth. The stock also has a B grade for Quality. It is ranked #13 in the list of 42 stocks within the B-rated <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> industry.
To check other POWR Ratings of AU 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>)
Headquartered in Toronto, Canada, AEM engages in the exploration, development, and production of precious metals. The company's 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 June 24, AEM announced the acquisition of 33,821,842 common shares of Maple Gold Mines Ltd. on June 21, 2024, for 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.
For 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 came in at $535.27 million and $1.07 per share, reflecting increases of 68.2% and 64.6% year-over-year, respectively. Its adjusted EBITDA stood at $1.18 billion, up 32.9% year-over-year.
Also, the company's free cash flow rose 86.7% from the year-ago value to $557.24 million.
Street expects AEM's revenue for the third quarter (ended September 2024) to grow 28.3% year-over-year to $2.11 billion, while its EPS is expected to increase 123.4% year-over-year to $0.98, respectively. Further, it topped the consensus revenue and EPS estimates in all of the trailing four quarters.
Over the past six months, AEM's stock has surged 28.9% and 67.1% over the past year to close the last trading session at $79.46.
AEM's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
AEM has a B grade for Growth and Sentiment. The stock is ranked #11 among the 42 stocks in the B-rated Miners - Gold industry.
To check other POWR Ratings of AEM for Value, Quality, Momentum, and Stability, <a href="https://stocknews.com/stock/AEM/">click here</a>.
Stock #1: 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 worldwide. The company has 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 2, GOLD announced the development of a Super Pit at its Lumwana copper mine, officially launched by the Zambian President, His Excellency Hakainde Hichilema, accompanied by members of his cabinet. The feasibility study for the Super Pit Expansion will be carried out by the end of the year, paving the way for construction to start in 2025.
Once it is completed, the $2 billion project unlocks the potential to transform Lumwana into a long-life, high-yielding, top-25 copper producer and a Tier One copper mine.
GOLD's revenues increased 11.6% year-over-year to $3.16 billion for the second quarter that ended June 30, 2024. The company's adjusted net earnings were $557 million and $0.32 per share, up 65.8% and 68.4% from the prior year's quarter, respectively. Its attributable EBITDA rose 30.5% from the year-ago value to $1.29 billion.
Analysts expect GOLD's revenue and EPS for the third quarter (ended September 2024) to increase 20.6% and 43.4% year-over-year to $3.45 billion and $0.34, respectively. Also, the company has surpassed the consensus EPS estimates in each of the trailing four quarters.
Over the past six months, the stock has surged 10.8% and 31.3% over the past year to close the last trading session at $19.99.
GOLD's robust outlook is projected 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 out of 42 stocks within the same industry.
To see the other ratings of GOLD for Growth, Value, Stability, and Momentum, <a href="https://stocknews.com/stock/GOLD/">click here</a>.
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AEM shares fell $0.50 (-0.63%) in after-hours trading Monday. Year-to-date, AEM has gained 48.33%, versus a 24.09% 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-au-3-gold-mining-stocks-to-buy-for-portfolio-safety/>3 Gold Mining Stocks to Buy for Portfolio Safety</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Gold Mining Stocks to Buy for Portfolio Safety

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Agnico Eagle Mines (AEM) Forecast

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