Q3 2023 EPS Estimates for Agnico Eagle Mines Limited (NYSE:AEM) Decreased by Analyst

Agnico Eagle Mines Limited (NYSE:AEM – Get Rating) (TSE:AEM) – Equities researchers at Raymond James lowered their Q3 2023 earnings estimates for Agnico Eagle Mines in a report issued on Thursday, May 18th. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.37 for the quarter, down from their prior forecast of $0.40. Raymond James currently has a “Outperform” rating and a $67.00 price target on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.16 per share. Raymond James also issued estimates for Agnico Eagle Mines’ Q4 2023 earnings at $0.30 EPS.

Agnico Eagle Mines (NYSE:AEM – Get Rating) (TSE:AEM) last posted its quarterly earnings data on Friday, February 17th. The mining company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Agnico Eagle Mines had a net margin of 40.12% and a return on equity of 6.07%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business earned $0.46 earnings per share. The business’s revenue for the quarter was up 45.5% on a year-over-year basis.

A number of other equities research analysts have also issued reports on AEM. TheStreet raised shares of Agnico Eagle Mines from a “c+” rating to a “b-” rating in a research note on Wednesday, January 25th. Barclays lifted their target price on shares of Agnico Eagle Mines from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 21st. BMO Capital Markets began coverage on shares of Agnico Eagle Mines in a research note on Monday, April 3rd. They set an “outperform” rating for the company. TD Securities cut their price target on shares of Agnico Eagle Mines from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, February 17th. Finally, StockNews.com began coverage on shares of Agnico Eagle Mines in a report on Thursday. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.63.

Agnico Eagle Mines Trading Up 0.5 %

Agnico Eagle Mines stock opened at $54.03 on Monday. The company has a 50 day moving average price of $54.91 and a 200 day moving average price of $52.23. Agnico Eagle Mines has a 52 week low of $36.69 and a 52 week high of $61.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.07 and a current ratio of 2.32. The firm has a market capitalization of $26.71 billion, a price-to-earnings ratio of 10.64, a P/E/G ratio of 24.82 and a beta of 0.81.

Hedge Funds Weigh In On Agnico Eagle Mines

Hedge funds have recently bought and sold shares of the company. Quilter Plc acquired a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at approximately $204,981,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $26,000. Lindbrook Capital LLC boosted its stake in shares of Agnico Eagle Mines by 61.6% in the 4th quarter. Lindbrook Capital LLC now owns 514 shares of the mining company’s stock valued at $27,000 after purchasing an additional 196 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at approximately $30,000. Finally, Ronald Blue Trust Inc. boosted its stake in shares of Agnico Eagle Mines by 72.7% in the 4th quarter. Ronald Blue Trust Inc. now owns 708 shares of the mining company’s stock valued at $30,000 after purchasing an additional 298 shares in the last quarter. 58.11% of the stock is owned by institutional investors.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Wednesday, May 31st. Agnico Eagle Mines’s payout ratio is presently 31.50%.

Agnico Eagle Mines Company Profile

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Agnico Eagle Mines Ltd. engages in the exploration and production of gold. It operates through the following segments: Northern Business, Southern Business, and Exploration. The Northern Business segment comprises of LaRonde mine, LaRonde Zone 5 mine, Lapa mine, Goldex mine, Meadowbank mine including the Amaruq deposit, Canadian Malartic joint operation, Meliadine project and Kittila mine.