Brokers Issue Forecasts for Agnico Eagle Mines Limited’s Q1 2024 Earnings (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities research analysts at National Bank Financial issued their Q1 2024 EPS estimates for Agnico Eagle Mines in a research report issued to clients and investors on Thursday, April 18th. National Bank Financial analyst M. Parkin expects that the mining company will earn $0.64 per share for the quarter. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.51 per share.

Several other analysts have also recently commented on AEM. TD Securities lowered their target price on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Jefferies Financial Group initiated coverage on shares of Agnico Eagle Mines in a research note on Thursday, February 29th. They issued a “hold” rating and a $54.00 target price for the company. CIBC lowered their target price on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, Raymond James lifted their price target 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus price target of $63.71.

Agnico Eagle Mines Trading Up 0.6 %

Shares of AEM opened at $63.84 on Monday. 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 firm has a 50 day simple moving average of $55.15 and a 200-day simple moving average of $52.04. Agnico Eagle Mines has a 1-year low of $43.22 and a 1-year high of $64.19. The stock has a market cap of $31.83 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 0.96 and a beta of 1.06.

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

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.51%. Agnico Eagle Mines’s payout ratio is 38.93%.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise increased its stake in Agnico Eagle Mines by 2.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock worth $369,000 after buying an additional 169 shares during the period. IHT Wealth Management LLC increased its position in shares of Agnico Eagle Mines by 1.5% in the 4th quarter. IHT Wealth Management LLC now owns 14,049 shares of the mining company’s stock worth $988,000 after purchasing an additional 208 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Agnico Eagle Mines by 4.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock worth $300,000 after purchasing an additional 226 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of Agnico Eagle Mines by 1.3% in the 3rd quarter. Natixis Advisors L.P. now owns 18,206 shares of the mining company’s stock worth $827,000 after purchasing an additional 242 shares during the last quarter. Finally, FirstPurpose Wealth LLC increased its position in shares of Agnico Eagle Mines by 3.8% in the 3rd quarter. FirstPurpose Wealth LLC now owns 7,174 shares of the mining company’s stock worth $326,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.