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Number Cruncher

Stock screens for investment ideas from professional investors. Exclusive to subscribers of Globe Unlimited.

Number Cruncher

Searching S&P/TSX 60 for earnings momentum Add to ...

What are we looking for?

Strong earnings momentum in the S&P/TSX 60 index.

More about today’s screen

We’ve spent the week looking for earnings momentum. Today, we’ll scan the S&P/TSX 60 index for the top 20 stocks for earnings momentum this year.

We’ll use StarMine again today. It is a Thomson Reuters service that gathers earnings estimate data from analysts. StarMine measures earnings-revision momentum, which is how much earnings estimates have risen or fallen. We’re looking at earnings estimate revisions over the past 30 and 60 days for the next quarter, next 12 months and two years out.

We’ll sort the results by stocks that have over the past two months seen their earnings revised higher for the next 12 months.

What did we find out?

It’s no surprise that mining companies dominate the top of this list, as the materials sector is where the most earnings momentum in North American sectors can be found right now.

Take a look at the last column, which shows the “SmartEstimate” for the next 12 months. The SmartEstimate takes into account only analysts who have the most timely and accurate earnings estimate history. In other words, the SmartEstimate puts the most weight on the most accurate analysts.

Almost all of these companies have expectations for double-digit profit increases for the coming year.

Stocks in this column include:

Kinross Gold Corp. , Yamana Gold Inc. , First Quantum Minerals , Goldcorp , Penn West Petroleum , Teck Resources , Magna International , Valeant Pharmaceuticals , Brookfield Asset Management , Barrick Gold Corp. , Iamgold Corp. , Eldorado Gold Corp. , Inmet Mining Corp. , Imperial Oil Ltd. , George Weston Ltd. , Potash Corp. of Sask. , Cameco Corp. , Agnico Eagle Mines , Research In Motion , Canadian Oil Sands

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