Cormark Weighs in on Agnico Eagle Mines Limited’s Q2 2024 Earnings (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities research analysts at Cormark dropped their Q2 2024 earnings per share estimates for shares of Agnico Eagle Mines in a research note issued on Monday, June 24th. Cormark analyst R. Gray now anticipates that the mining company will earn $0.88 per share for the quarter, down from their previous forecast of $0.95. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.16 per share. Cormark also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $0.88 EPS, Q4 2024 earnings at $0.87 EPS and FY2024 earnings at $3.39 EPS.

A number of other equities research analysts have also issued reports on the company. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday. Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $58.00 to $59.00 and gave the company a “hold” rating in a research note on Thursday, June 20th. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. TD Securities lifted their price objective on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, BMO Capital Markets lowered their target price on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.22.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $65.40 on Thursday. Agnico Eagle Mines has a 52-week low of $43.22 and a 52-week high of $71.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21. The firm has a market capitalization of $32.72 billion, a PE ratio of 68.84, a P/E/G ratio of 0.73 and a beta of 1.11. The stock has a 50-day simple moving average of $66.31 and a two-hundred day simple moving average of $57.95.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its 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. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s revenue was up 21.2% on a year-over-year basis.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of hedge funds have recently added to or reduced their stakes in AEM. Clean Yield Group purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter worth $60,000. Boston Partners purchased a new position in shares of Agnico Eagle Mines during the first quarter worth $297,000. Cetera Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the 1st quarter valued at about $293,000. Cetera Investment Advisers acquired a new position in Agnico Eagle Mines in the first quarter valued at approximately $2,517,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of Agnico Eagle Mines in the 1st quarter valued at $50,000. 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.