Agnico Eagle Mines Limited Forecasted to Earn Q2 2024 Earnings of $0.85 Per Share (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Analysts at Raymond James raised their Q2 2024 EPS estimates for shares of Agnico Eagle Mines in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings of $0.85 per share for the quarter, up from their prior estimate of $0.52. Raymond James currently has a “Outperform” rating and a $71.00 price target on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.66 per share. Raymond James also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $0.88 EPS, Q4 2024 earnings at $0.90 EPS and FY2024 earnings at $3.25 EPS.

AEM has been the subject of a number of other reports. Jefferies Financial Group lifted their price objective on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. TD Securities reduced their price objective on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. CIBC reduced their price objective on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.14.

Agnico Eagle Mines Stock Up 0.9 %

Agnico Eagle Mines stock opened at $65.51 on Thursday. Agnico Eagle Mines has a 1-year low of $43.22 and a 1-year high of $67.80. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 0.90 and a beta of 1.06. The company has a current ratio of 2.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10. The firm has a 50 day simple moving average of $56.90 and a 200 day simple moving average of $52.59.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business earned $0.57 EPS. Agnico Eagle Mines’s revenue was up 21.2% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AEM. CWM LLC grew its position in shares of Agnico Eagle Mines by 64.6% during the 3rd quarter. CWM LLC now owns 4,181 shares of the mining company’s stock valued at $190,000 after purchasing an additional 1,641 shares in the last quarter. AE Wealth Management LLC bought a new position in Agnico Eagle Mines in the third quarter valued at $231,000. Koshinski Asset Management Inc. bought a new position in Agnico Eagle Mines in the third quarter valued at $204,000. WS Portfolio Advisory LLC increased its stake in Agnico Eagle Mines by 26.5% in the third quarter. WS Portfolio Advisory LLC now owns 239,292 shares of the mining company’s stock valued at $10,876,000 after acquiring an additional 50,075 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its stake in Agnico Eagle Mines by 4.0% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 15,710 shares of the mining company’s stock valued at $714,000 after acquiring an additional 600 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.44%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 38.93%.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.