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) – Raymond James boosted their Q2 2024 earnings per share estimates for Agnico Eagle Mines in a report issued on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the mining company will post earnings of $0.85 per share for the quarter, up from their prior forecast of $0.52. Raymond James currently has a “Outperform” rating and a $71.00 target price 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.

Several other analysts have also issued reports on the company. TD Securities dropped their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Jefferies Financial Group upped their price objective on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Finally, CIBC dropped their price objective on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.14.

Agnico Eagle Mines Stock Performance

AEM opened at $65.51 on Thursday. Agnico Eagle Mines has a 52-week low of $43.22 and a 52-week high of $67.80. The firm has a market capitalization of $32.66 billion, a PE ratio of 15.94, a PEG ratio of 0.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 2.09. The business’s 50-day simple moving average is $56.90 and its 200 day simple moving average is $52.59.

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

Agnico Eagle Mines Announces Dividend

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

Institutional Investors Weigh In On Agnico Eagle Mines

A number of large investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise grew its position in Agnico Eagle Mines by 2.8% during the first quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock worth $369,000 after buying an additional 169 shares in the last quarter. Gulf International Bank UK Ltd grew its position in Agnico Eagle Mines by 4.7% during the first quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock worth $300,000 after buying an additional 226 shares in the last quarter. Natixis Advisors L.P. grew its position in Agnico Eagle Mines by 1.3% during the third quarter. Natixis Advisors L.P. now owns 18,206 shares of the mining company’s stock worth $827,000 after buying an additional 242 shares in the last quarter. FirstPurpose Wealth LLC lifted its stake in Agnico Eagle Mines by 3.8% during the third quarter. FirstPurpose Wealth LLC now owns 7,174 shares of the mining company’s stock worth $326,000 after purchasing an additional 260 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in Agnico Eagle Mines by 3.5% during the third quarter. PFG Investments LLC now owns 8,977 shares of the mining company’s stock worth $408,000 after purchasing an additional 302 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.