Agnico Eagle Mines Limited to Post Q2 2024 Earnings of $0.95 Per Share, Cormark Forecasts (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Cormark raised their Q2 2024 earnings per share (EPS) estimates for Agnico Eagle Mines in a report issued on Monday, April 29th. Cormark analyst R. Gray now expects that the mining company will post earnings of $0.95 per share for the quarter, up from their previous estimate of $0.55. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.81 per share. Cormark also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $0.95 EPS, Q4 2024 earnings at $0.95 EPS, FY2024 earnings at $3.61 EPS and FY2025 earnings at $4.27 EPS.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced 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. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 21.2% compared to the same quarter last year.

Several other equities analysts have also recently issued reports on the company. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Raymond James lifted their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. CIBC lifted their target price on Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup lifted their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, TD Securities lifted their target price on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.63.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $64.24 on Thursday. Agnico Eagle Mines has a 12-month low of $43.22 and a 12-month high of $67.80. The firm has a market capitalization of $32.03 billion, a price-to-earnings ratio of 67.62, a price-to-earnings-growth ratio of 0.85 and a beta of 1.04. The business has a 50 day simple moving average of $57.55 and a 200 day simple moving average of $52.90. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88.

Institutional Trading of Agnico Eagle Mines

Institutional investors have recently bought and sold shares of the company. Blair William & Co. IL lifted its position in shares of Agnico Eagle Mines by 5.9% in the third quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock worth $1,078,000 after buying an additional 1,313 shares during the last quarter. Raymond James & Associates increased its stake in shares of Agnico Eagle Mines by 15.5% in the fourth quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock worth $19,990,000 after purchasing an additional 48,782 shares during the period. Wellington Management Group LLP increased its stake in shares of Agnico Eagle Mines by 5.7% in the third quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock worth $28,752,000 after purchasing an additional 34,072 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $41,610,000. Finally, Sprott Inc. increased its stake in shares of Agnico Eagle Mines by 4.1% in the third quarter. Sprott Inc. now owns 1,412,300 shares of the mining company’s stock worth $65,249,000 after purchasing an additional 55,032 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Announces Dividend

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

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.