Agnico Eagle Mines Limited Expected to Post FY2024 Earnings of $3.31 Per Share (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Investment analysts at National Bank Financial raised their FY2024 EPS estimates for Agnico Eagle Mines in a report issued on Monday, April 29th. National Bank Financial analyst M. Parkin now forecasts that the mining company will post earnings per share of $3.31 for the year, up from their prior estimate of $2.24. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.81 per share. National Bank Financial also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $3.66 EPS.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. Agnico Eagle Mines’s revenue was up 21.2% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share.

Several other brokerages have also issued reports on AEM. Citigroup lifted their price objective on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday. TD Securities lifted their price target on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday. Raymond James lifted their price target on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, CIBC lifted their price target on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.63.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $64.24 on Thursday. The firm has a market cap of $32.03 billion, a price-to-earnings ratio of 67.62, a PEG ratio of 0.85 and a beta of 1.04. The company’s 50 day moving average is $57.55 and its 200 day moving average is $52.90. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. Agnico Eagle Mines has a 52-week low of $43.22 and a 52-week high of $67.80.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.60 annualized dividend and a dividend yield of 2.49%. Agnico Eagle Mines’s payout ratio is currently 168.42%.

Institutional Investors Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stephens Consulting LLC acquired a new position in Agnico Eagle Mines during the first quarter valued at $30,000. Bruce G. Allen Investments LLC acquired a new position in Agnico Eagle Mines during the fourth quarter valued at $33,000. CVA Family Office LLC acquired a new position in Agnico Eagle Mines during the fourth quarter valued at $36,000. Janiczek Wealth Management LLC lifted its position in Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after purchasing an additional 569 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Agnico Eagle Mines during the third quarter valued at $34,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

About Agnico Eagle Mines

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.