Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Research analysts at Raymond James lowered their Q1 2022 earnings estimates for Agnico Eagle Mines in a research report issued to clients and investors on Wednesday, October 13th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.68 for the quarter, down from their prior forecast of $0.75. Raymond James has a “Outperform” rating and a $74.00 price objective on the stock. Raymond James also issued estimates for Agnico Eagle Mines’ Q2 2022 earnings at $0.69 EPS, Q3 2022 earnings at $0.64 EPS and Q4 2022 earnings at $0.63 EPS.
A number of other equities research analysts have also recently weighed in on AEM. National Bankshares cut Agnico Eagle Mines to a “hold” rating and set a $97.00 price objective for the company. in a research note on Friday, September 10th. CIBC reissued a “buy” rating and set a $121.50 price objective on shares of Agnico Eagle Mines in a report on Friday, July 9th. Royal Bank of Canada upgraded shares of Agnico Eagle Mines from a “sector perform” rating to an “outperform” rating and cut their target price for the stock from $68.00 to $63.00 in a research report on Wednesday, October 6th. KeyCorp initiated coverage on shares of Agnico Eagle Mines in a research report on Friday, September 24th. They set a “sector weight” rating for the company. Finally, National Bank Financial cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $97.00 to $90.00 in a research report on Friday, September 10th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $90.05.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Tuesday, July 27th. The mining company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. Agnico Eagle Mines had a return on equity of 12.01% and a net margin of 19.78%. The company had revenue of $966.32 million during the quarter, compared to the consensus estimate of $901.42 million. During the same period in the previous year, the company posted $0.18 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Tuesday, August 31st. Agnico Eagle Mines’s dividend payout ratio is presently 75.27%.
A number of hedge funds have recently modified their holdings of AEM. Eaton Vance Management acquired a new position in Agnico Eagle Mines during the first quarter worth approximately $46,000. Huntington National Bank increased its position in Agnico Eagle Mines by 24.0% during the second quarter. Huntington National Bank now owns 1,066 shares of the mining company’s stock worth $64,000 after purchasing an additional 206 shares during the last quarter. Advisory Services Network LLC acquired a new position in Agnico Eagle Mines during the second quarter worth approximately $87,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Agnico Eagle Mines during the second quarter worth approximately $137,000. Finally, Bessemer Group Inc. acquired a new position in Agnico Eagle Mines during the first quarter worth approximately $142,000. 59.30% of the stock is owned by hedge funds and other institutional investors.
About Agnico Eagle Mines
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Sweden, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
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