Q2 2024 EPS Estimates for Agnico Eagle Mines Limited Increased by Analyst (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Investment analysts at Raymond James upped their Q2 2024 earnings per share estimates for Agnico Eagle Mines in a note issued to investors on Thursday, June 20th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.83 for the quarter, up from their prior forecast of $0.82. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.16 per share. Raymond James also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $0.87 EPS and Q4 2024 earnings at $0.88 EPS.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 6.09% and a net margin of 6.79%. Agnico Eagle Mines’s revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 earnings per share.

A number of other research analysts also recently issued reports on AEM. CIBC increased their price objective on Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. TD Securities increased their price objective on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Jefferies Financial Group increased their price objective on Agnico Eagle Mines from $58.00 to $59.00 and gave the stock a “hold” rating in a report on Thursday, June 20th. Finally, Scotiabank increased their price objective on Agnico Eagle Mines from $71.00 to $81.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.22.

Agnico Eagle Mines Trading Down 1.2 %

NYSE AEM opened at $64.89 on Monday. The firm has a market cap of $32.46 billion, a P/E ratio of 68.31, a P/E/G ratio of 0.72 and a beta of 1.11. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88. The stock’s 50-day moving average is $66.16 and its 200-day moving average is $57.74. Agnico Eagle Mines has a one year low of $43.22 and a one year high of $71.50.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AEM. Norges Bank acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $325,327,000. FIL Ltd lifted its position in shares of Agnico Eagle Mines by 16.4% in the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after buying an additional 2,831,794 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $132,257,000. Van ECK Associates Corp lifted its position in shares of Agnico Eagle Mines by 9.5% in the fourth quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock valued at $1,264,791,000 after buying an additional 1,995,127 shares during the last quarter. Finally, Capital Wealth Planning LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $88,547,000. 68.34% of the stock is currently owned by institutional investors.

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.