Agnico Eagle Mines Limited (NYSE:AEM) Forecasted to Post FY2022 Earnings of $2.51 Per Share

Agnico Eagle Mines Limited (NYSE:AEM – Get Rating) (TSE:AEM) – Stock analysts at National Bank Financial upped their FY2022 earnings per share (EPS) estimates for Agnico Eagle Mines in a report issued on Tuesday, May 10th. National Bank Financial analyst M. Parkin now expects that the mining company will earn $2.51 per share for the year, up from their previous forecast of $2.09.

AEM has been the topic of a number of other research reports. TD Securities decreased their target price on shares of Agnico Eagle Mines from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, March 1st. TheStreet upgraded shares of Agnico Eagle Mines from a “c+” rating to a “b” rating in a report on Wednesday, March 23rd. Canaccord Genuity Group cut 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 report on Tuesday, March 1st. StockNews.com began coverage on shares of Agnico Eagle Mines in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Barclays lifted their price target on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, April 21st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $83.59.

NYSE AEM opened at $50.61 on Friday. The firm’s fifty day moving average price is $60.65 and its two-hundred day moving average price is $54.86. The stock has a market cap of $12.42 billion, a PE ratio of 26.22, a PEG ratio of 24.27 and a beta of 0.85. 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 debt-to-equity ratio of 0.09, a quick ratio of 1.46 and a current ratio of 2.61.

Agnico Eagle Mines (NYSE:AEM – Get Rating) (TSE:AEM) last posted its earnings results on Thursday, April 28th. The mining company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.25. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Agnico Eagle Mines had a net margin of 12.22% and a return on equity of 7.76%. The company’s revenue was up 39.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be issued a $0.40 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $1.60 annualized dividend and a yield of 3.16%. Agnico Eagle Mines’s payout ratio is 82.90%.

Several hedge funds and other institutional investors have recently made changes to their positions in AEM. Van ECK Associates Corp raised its holdings in shares of Agnico Eagle Mines by 58.4% during the first quarter. Van ECK Associates Corp now owns 20,726,131 shares of the mining company’s stock valued at $1,269,257,000 after purchasing an additional 7,644,320 shares during the period. Flossbach Von Storch AG raised its holdings in shares of Agnico Eagle Mines by 233.4% during the first quarter. Flossbach Von Storch AG now owns 6,916,401 shares of the mining company’s stock valued at $423,560,000 after purchasing an additional 4,841,789 shares during the period. GQG Partners LLC bought a new stake in shares of Agnico Eagle Mines during the fourth quarter worth about $237,937,000. CIBC Asset Management Inc increased its position in shares of Agnico Eagle Mines by 112.2% during the first quarter. CIBC Asset Management Inc now owns 5,583,463 shares of the mining company’s stock worth $342,049,000 after acquiring an additional 2,952,364 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Agnico Eagle Mines during the fourth quarter worth about $126,367,000. Hedge funds and other institutional investors own 69.74% of the company’s stock.

About Agnico Eagle Mines (Get Rating)

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

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