Cormark Weighs in on Agnico Eagle Mines Limited’s Q1 2024 Earnings (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Analysts at Cormark upped their Q1 2024 earnings per share estimates for Agnico Eagle Mines in a report released on Monday, April 22nd. Cormark analyst R. Gray now anticipates that the mining company will post earnings of $0.58 per share for the quarter, up from their prior estimate of $0.55. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.52 per share.

A number of other equities analysts have also recently weighed in on AEM. CIBC lowered their price target on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Jefferies Financial Group boosted their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research note on Monday. TD Securities lowered their price objective on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Raymond James lifted their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $64.14.

Agnico Eagle Mines Trading Up 1.2 %

Shares of Agnico Eagle Mines stock opened at $63.70 on Tuesday. The stock has a 50 day moving average of $56.18 and a 200 day moving average of $52.37. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 2.09. The firm has a market capitalization of $31.76 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.93 and a beta of 1.06. Agnico Eagle Mines has a fifty-two week low of $43.22 and a fifty-two week high of $64.19.

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

Institutional Trading of Agnico Eagle Mines

Hedge funds have recently made changes to their positions in the company. Simplicity Wealth LLC acquired a new stake in shares of Agnico Eagle Mines in the 1st quarter worth approximately $2,735,000. NBT Bank N A NY increased its stake in shares of Agnico Eagle Mines by 33.2% during the 1st quarter. NBT Bank N A NY now owns 10,320 shares of the mining company’s stock worth $616,000 after purchasing an additional 2,572 shares in the last quarter. Mason & Associates Inc acquired a new position in shares of Agnico Eagle Mines during the 1st quarter worth approximately $310,000. Raymond James Financial Services Advisors Inc. lifted its stake in Agnico Eagle Mines by 7.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 110,498 shares of the mining company’s stock valued at $6,591,000 after buying an additional 7,834 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. purchased a new position in Agnico Eagle Mines during the first quarter worth $214,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Dividend Announcement

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