Q1 2024 EPS Estimates for Agnico Eagle Mines Limited (NYSE:AEM) Lifted by Analyst

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities researchers at Raymond James upped their Q1 2024 earnings estimates for shares of Agnico Eagle Mines in a report issued on Thursday, April 18th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.61 for the quarter, up from their previous estimate of $0.57. Raymond James has a “Outperform” rating and a $71.00 price target on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.51 per share.

Other equities analysts also recently issued reports about the stock. CIBC cut their price target on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. TD Securities cut their price target on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Jefferies Financial Group boosted their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a report on Monday. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average target price of $64.14.

Agnico Eagle Mines Price Performance

AEM opened at $62.92 on Monday. The firm’s fifty day moving average price is $55.81 and its two-hundred day moving average price is $52.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 0.74. The company has a market capitalization of $31.37 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.96 and a beta of 1.06. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $64.19.

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. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.72 billion. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The business’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS.

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently modified their holdings of AEM. CWM LLC increased its position in shares of Agnico Eagle Mines by 64.6% during the third quarter. CWM LLC now owns 4,181 shares of the mining company’s stock valued at $190,000 after buying an additional 1,641 shares during the period. AE Wealth Management LLC bought a new position in shares of Agnico Eagle Mines in the third quarter worth approximately $231,000. Ronald Blue Trust Inc. increased its position in shares of Agnico Eagle Mines by 163.4% in the third quarter. Ronald Blue Trust Inc. now owns 1,578 shares of the mining company’s stock worth $79,000 after purchasing an additional 979 shares during the last quarter. Royal Fund Management LLC bought a new position in shares of Agnico Eagle Mines in the third quarter worth approximately $1,098,000. Finally, Koshinski Asset Management Inc. bought a new position in shares of Agnico Eagle Mines in the third quarter worth approximately $204,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio is presently 38.93%.

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.