Agnico Eagle Mines Limited Expected to Post Q1 2024 Earnings of $0.58 Per Share (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Stock analysts at Cormark upped their Q1 2024 earnings per share (EPS) estimates for Agnico Eagle Mines in a note issued to investors on Monday, April 22nd. Cormark analyst R. Gray now forecasts that the mining company will post earnings per share of $0.58 for the quarter, up from their previous forecast of $0.55. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.51 per share.

Several other brokerages have also weighed in on AEM. TD Securities dropped their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Raymond James raised their price target on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. CIBC lowered their price target on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Finally, Jefferies Financial Group raised their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $64.14.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $62.92 on Tuesday. Agnico Eagle Mines has a 1-year low of $43.22 and a 1-year high of $64.19. 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 business’s fifty day moving average price is $55.81 and its two-hundred day moving average price is $52.29. The firm has a market capitalization of $31.37 billion, a PE ratio of 15.31, a P/E/G 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 for the quarter, topping the consensus estimate of $0.48 by $0.09. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was up 26.9% on a year-over-year basis.

Agnico Eagle Mines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.60 annualized dividend and a yield of 2.54%. Agnico Eagle Mines’s dividend payout ratio is currently 38.93%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AEM. Stephens Consulting LLC bought a new position in Agnico Eagle Mines during the first quarter valued at about $30,000. Bruce G. Allen Investments LLC bought a new position in Agnico Eagle Mines during the fourth quarter valued at about $33,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at $34,000. CVA Family Office LLC acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $36,000. Finally, Janiczek Wealth Management LLC boosted its position in shares of Agnico Eagle Mines by 406.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after purchasing an additional 569 shares during the period. Institutional investors 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.