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Precious few stocks boast positive momentum

WHAT ARE WE LOOKING FOR? Yesterday, we looked at analyst estimate revisions for financial stocks. There are few financial stocks that haven't been hit by sharp earnings estimate cuts in the past couple of months. Today, we'll look at the broad Canadian market for estimate revision patterns. Let's find out which mid- to large-cap Canadian stocks have had rising earnings estimates in the past two months. HOW WE DID THE SCREEN Again, we used StarMine today. It gathers earnings estimate data from analysts. We looked at how much estimates have risen or fallen in the past 30 and 60 days for mid- and large-cap stocks. We looked at estimates for the next quarter, the next four quarters and the next eight quarters. We sorted by what percentage analysts have cut or raised their earnings estimates during the past 60 days for their 12-month outlooks. WHAT DID WE FIND OUT? Only a handful of stocks have had positive revisions recently and more likely than not, those are gold or precious metals companies.

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