Brokers Set Expectations for Agnico Eagle Mines Limited’s Q1 2023 Earnings (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEMGet Rating) (TSE:AEM) – Raymond James issued their Q1 2023 earnings estimates for shares of Agnico Eagle Mines in a research note issued to investors on Tuesday, April 19th. Raymond James analyst F. Hamed forecasts that the mining company will post earnings of $0.47 per share for the quarter. Raymond James also issued estimates for Agnico Eagle Mines’ Q2 2023 earnings at $0.48 EPS, Q3 2023 earnings at $0.48 EPS and Q4 2023 earnings at $0.48 EPS.

AEM has been the topic of several other reports. BMO Capital Markets cut their price objective on shares of Agnico Eagle Mines from $93.00 to $88.00 in a research report on Friday, February 25th. Canaccord Genuity Group dropped their price target on shares of Agnico Eagle Mines from C$90.00 to C$84.00 and set a “buy” rating on the stock in a research report on Tuesday, March 1st. TheStreet upgraded shares of Agnico Eagle Mines from a “c+” rating to a “b” rating in a research report on Wednesday, March 23rd. TD Securities dropped their price target on shares of Agnico Eagle Mines from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, March 1st. Finally, Stifel Nicolaus dropped their price target on shares of Agnico Eagle Mines from C$115.75 to C$100.00 in a research report on Monday, February 28th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $84.77.

Shares of NYSE:AEM opened at $64.89 on Thursday. The company has a market cap of $15.93 billion, a PE ratio of 29.36, a P/E/G ratio of 31.23 and a beta of 0.86. The company’s 50-day moving average price is $59.41 and its 200 day moving average price is $54.70. Agnico Eagle Mines has a fifty-two week low of $45.42 and a fifty-two week high of $74.50. The company has a quick ratio of 0.56, a current ratio of 1.71 and a debt-to-equity ratio of 0.24.

Agnico Eagle Mines (NYSE:AEMGet Rating) (TSE:AEM) last issued its quarterly earnings data on Wednesday, February 23rd. The mining company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.09). The firm had revenue of $949.10 million during the quarter, compared to the consensus estimate of $932.93 million. Agnico Eagle Mines had a net margin of 14.16% and a return on equity of 10.03%. During the same quarter in the prior year, the business earned $0.67 earnings per share.

A number of large investors have recently added to or reduced their stakes in AEM. GQG Partners LLC bought a new stake in Agnico Eagle Mines in the 4th quarter valued at $237,937,000. Norges Bank bought a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at approximately $126,367,000. Canada Pension Plan Investment Board bought a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at approximately $63,847,000. Millennium Management LLC lifted its holdings in Agnico Eagle Mines by 158.9% in the fourth quarter. Millennium Management LLC now owns 1,575,865 shares of the mining company’s stock valued at $83,745,000 after buying an additional 967,094 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Agnico Eagle Mines in the third quarter valued at approximately $49,135,000. Hedge funds and other institutional investors own 64.62% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Monday, March 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 4th. Agnico Eagle Mines’s payout ratio is presently 72.40%.

About Agnico Eagle Mines (Get Rating)

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Sweden, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Earnings History and Estimates for Agnico Eagle Mines (NYSE:AEM)

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