Agnico Eagle Mines Limited (NYSE:AEM) Expected to Post Q1 2024 Earnings of $0.64 Per Share

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities researchers at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for Agnico Eagle Mines in a report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the mining company will post earnings per share of $0.64 for the quarter. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.51 per share.

A number of other research firms have also recently commented on AEM. TD Securities decreased their price target on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Raymond James boosted their price target on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, January 12th. CIBC reduced their target price on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Finally, Jefferies Financial Group initiated coverage on Agnico Eagle Mines in a research note on Thursday, February 29th. They set a “hold” rating and a $54.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.71.

Agnico Eagle Mines Stock Up 0.6 %

AEM stock opened at $63.84 on Monday. The stock has a market cap of $31.83 billion, a P/E ratio of 15.53, a PEG ratio of 0.96 and a beta of 1.06. Agnico Eagle Mines has a twelve month low of $43.22 and a twelve month high of $64.19. The business’s 50-day moving average price is $55.15 and its 200-day moving average price is $52.04. The company has a quick ratio of 0.74, a current ratio of 2.09 and a debt-to-equity ratio of 0.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the firm posted $0.41 earnings per share. The firm’s revenue was up 26.9% compared to the same quarter last year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.40 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.51%. Agnico Eagle Mines’s payout ratio is presently 38.93%.

Institutional Trading of Agnico Eagle Mines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Agnico Eagle Mines by 86.4% in the first quarter. Bank of New York Mellon Corp now owns 540,450 shares of the mining company’s stock valued at $33,097,000 after acquiring an additional 250,445 shares in the last quarter. US Bancorp DE grew its position in Agnico Eagle Mines by 108.6% during the 1st quarter. US Bancorp DE now owns 4,420 shares of the mining company’s stock worth $270,000 after purchasing an additional 2,301 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Agnico Eagle Mines by 37.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,795 shares of the mining company’s stock worth $171,000 after buying an additional 764 shares during the period. Natixis Advisors L.P. purchased a new position in Agnico Eagle Mines in the 1st quarter worth $678,000. Finally, BlackRock Inc. lifted its position in Agnico Eagle Mines by 44.0% during the 1st quarter. BlackRock Inc. now owns 364,215 shares of the mining company’s stock worth $22,304,000 after acquiring an additional 111,208 shares during the period. Institutional investors own 68.34% of the company’s stock.

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.