Q2 2024 EPS Estimates for Agnico Eagle Mines Limited Increased by Cormark (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Research analysts at Cormark raised their Q2 2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a research report issued on Monday, April 29th. Cormark analyst R. Gray now forecasts that the mining company will post earnings of $0.95 per share for the quarter, up from their previous forecast of $0.55. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.23 per share. Cormark also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $0.95 EPS, Q4 2024 earnings at $0.95 EPS, FY2024 earnings at $3.61 EPS and FY2025 earnings at $4.27 EPS.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business posted $0.57 EPS. Agnico Eagle Mines’s revenue for the quarter was up 21.2% on a year-over-year basis.

Other equities research analysts have also recently issued research reports about the company. Raymond James boosted their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Jefferies Financial Group boosted their target price on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. CIBC boosted their price target on Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Citigroup boosted their price target on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.63.

Agnico Eagle Mines Trading Down 0.1 %

NYSE AEM opened at $65.06 on Thursday. The stock has a market capitalization of $32.44 billion, a price-to-earnings ratio of 68.48, a PEG ratio of 0.75 and a beta of 1.04. The stock’s 50 day moving average price is $58.20 and its two-hundred day moving average price is $53.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21. Agnico Eagle Mines has a 52 week low of $43.22 and a 52 week high of $67.80.

Institutional Trading of Agnico Eagle Mines

Several institutional investors have recently added to or reduced their stakes in AEM. Van ECK Associates Corp lifted its position in shares of Agnico Eagle Mines by 9.5% during the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock valued at $1,264,791,000 after acquiring an additional 1,995,127 shares during the period. FIL Ltd lifted its position in shares of Agnico Eagle Mines by 16.4% during the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after acquiring an additional 2,831,794 shares during the period. Vanguard Group Inc. lifted its position in shares of Agnico Eagle Mines by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock valued at $963,320,000 after acquiring an additional 338,264 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Agnico Eagle Mines by 1.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock valued at $626,981,000 after acquiring an additional 152,166 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Agnico Eagle Mines by 0.4% during the 4th quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after acquiring an additional 41,068 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.60 annualized dividend and a yield of 2.46%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 168.42%.

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.