Raymond James Analysts Increase Earnings Estimates for Agnico Eagle Mines Limited (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities research analysts at Raymond James upped their Q1 2024 earnings per share (EPS) estimates for Agnico Eagle Mines in a note issued to investors on Thursday, April 18th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.61 for the quarter, up from their previous forecast of $0.57. Raymond James has a “Outperform” rating and a $71.00 price target on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.51 per share.

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, topping the consensus estimate 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 business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. Agnico Eagle Mines’s revenue was up 26.9% on a year-over-year basis.

A number of other equities analysts also recently issued reports on the company. Jefferies Financial Group initiated coverage on Agnico Eagle Mines in a research note on Thursday, February 29th. They set a “hold” rating and a $54.00 price target for the company. CIBC dropped their price objective on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Finally, TD Securities cut their price target on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.71.

Agnico Eagle Mines Trading Up 0.6 %

Shares of Agnico Eagle Mines stock opened at $63.84 on Monday. The stock has a market capitalization of $31.83 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 0.96 and a beta of 1.06. Agnico Eagle Mines has a 52 week low of $43.22 and a 52 week high of $64.19. The stock has a 50 day moving average price of $55.15 and a two-hundred day moving average price of $52.04. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 2.09.

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.40 dividend. 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 currently 38.93%.

Hedge Funds Weigh In On Agnico Eagle Mines

Institutional investors have recently added to or reduced their stakes in the business. Coppell Advisory Solutions Corp. purchased a new stake in Agnico Eagle Mines during the fourth quarter valued at about $26,000. Stephens Consulting LLC bought a new position in shares of Agnico Eagle Mines during the first quarter valued at about $30,000. Bruce G. Allen Investments LLC purchased a new position in Agnico Eagle Mines in the 4th quarter worth approximately $33,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the third quarter worth about $34,000. Finally, CVA Family Office LLC purchased a new stake in Agnico Eagle Mines in the 4th quarter worth approximately $36,000. 68.34% of the stock is currently owned by institutional investors.

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.