Best Momentum Stock to Buy for May 2nd

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, May 2nd:

Sprouts Farmers Market SFM: This company which operates in a highly fragmented grocery store industry, has a unique model that features fresh produce, foods section, and a vitamin department focused on overall wellness, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 2.6% over the last 60 days.

Sprouts Farmers Market’s shares gained 7.4% over the last three month compared with the S&P 500’s decline of 6.6%. The company possesses a Momentum Score of A.

Agnico Eagle Mines AEM: This company which is a gold producer with mining operations in Canada, Mexico and Finland, and exploration activities in Canada, Europe, Latin America and the United States, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 26.2% over the last 60 days.

Agnico Eagle Mines’ shares gained 19.1% over the last three month compared with the S&P 500’s decline of 6.6%. The company possesses a Momentum Score of A.

Banco Santander Chile BSAC: This company which is the largest bank in Chile, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 3.9% over the last 60 days.

Banco Santander Chile’s shares gained 18.9% over the last three month compared with the S&P 500’s decline of 6.6%. The company possesses a Momentum Score of A.

See the full list of top ranked stocks here

Learn more about the Momentum score and how it is calculated here.

5 Stocks Set to Double

Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

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This article originally published on Zacks Investment Research (zacks.com).

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