2 Highly Ranked Stocks to Buy After Q3 Earnings: AEM, MATX

Zacks11-02

Sporting a Zacks Rank #1 (Strong Buy), Agnico Eagle Mines AEM and Matson MATX are two stocks that stand out after impressively exceeding their third-quarter earnings expectations on Wednesday. ...

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Agnico has taken advantage of thecost of gold which is near multi-year highs of over $2,700 per ounce. To that point, Agnico achieved record free cash flow during Q3 while strengthening its balance sheet by lowering its debt as well.Thanks to their strengthening earnings outlook, Agnico and Matson’s stock have soared ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MATX":"Matson Inc","AEM":"伊格尔矿业"},"translate_title":"第三季度财报公布后值得买入的2只排名靠前的股票：AEM、MATX","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AEM":1,"MATX":1},"content_text":"Sporting a Zacks Rank #1 (Strong Buy), Agnico Eagle Mines AEM and Matson MATX are two stocks that stand out after impressively exceeding their third-quarter earnings expectations on Wednesday. \nFurthemore, Agnico and Matson were already benefiting from a compelling trend of positive earnings estimate revisions for fiscal 2024 and FY25 which should continue.\nGold Mining Leader - AEM Stock \nHeadquartered in Canada, gold producer and mine operator Agnico posted Q3 EPS of $1.14 which skyrocketed from $0.44 a share in the comparative quarter and beat expectations of $0.98 per share by 16%.\nThis came on sales of $2.15 billion, a 31% increase from $1.64 billion in Q3 2023 and an 18% top line beat with estimates at $1.82 billion. Agnico has taken advantage of the cost of gold which is near multi-year highs of over $2,700 per ounce. To that point, Agnico achieved record free cash flow during Q3 while strengthening its balance sheet by lowering its debt as well.\nConsidering Agnico’s improved operational efficiency it's also noteworthy that the Zacks Mining-Gold Industry is currently in the top 4% of over 250 Zacks industries.\nTransportation Services Leader - MATX Stock \nOperating as an international ocean transportation and logistics company, Matson’s Q3 earnings of $5.89 per share beat EPS estimates of $4.98 by 18%. More impressive, Matson’s bottom line stretched 73% from $3.40 per share in the prior-year quarter.\nAmid increased demand particularly in services to and from China, higher freight rates gave Matson a nice profitability boost although Q3 sales of $962 million missed estimates by -1%. That said, Matson’s top line increased 16% from $827.5 million in Q3 2023.\nAEM & MATX Performance \nThanks to their strengthening earnings outlook, Agnico and Matson’s stock have soared +56% and +39% in 2024 respectively. Noticeably outperforming the S&P 500 this year, AEM and MATX are now up over +100% in the last two years to impressively top the benchmark’s +53%.\nImage Source: Zacks Investment Research\nBottom Line \nAlluding to the notion that these highly ranked stocks may keep outperforming the broader market is that AEM and MATX still trade at pleasant discounts to the S&P 500’s 22.4X forward earnings multiple. With earnings estimates likely to stay on an upward trend following their favorable Q3 results, it wouldn’t be surprising if the YTD rally in Agnico Eagle Mines and Matson’s stock continues.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nAgnico Eagle Mines Limited (AEM) : Free Stock Analysis Report\nMatson, Inc. (MATX) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480893200"}