Q2 2024 EPS Estimates for Agnico Eagle Mines Limited (NYSE:AEM) Lifted by Cormark

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Stock analysts at Cormark raised their Q2 2024 earnings per share estimates for Agnico Eagle Mines in a report released on Monday, April 29th. Cormark analyst R. Gray now forecasts that the mining company will earn $0.95 per share for the quarter, up from their previous estimate of $0.55. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.81 per share. Cormark also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $0.95 EPS, Q4 2024 earnings at $0.95 EPS, FY2024 earnings at $3.61 EPS and FY2025 earnings at $4.27 EPS.

AEM has been the subject of a number of other reports. TD Securities increased their price objective on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday. Raymond James increased their price objective on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. CIBC increased their price objective on Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup upped their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group upped their target price on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.63.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $65.13 on Thursday. Agnico Eagle Mines has a 12-month low of $43.22 and a 12-month high of $67.80. The firm has a market capitalization of $32.47 billion, a price-to-earnings ratio of 68.55, a price-to-earnings-growth ratio of 0.85 and a beta of 1.04. The business has a 50 day simple moving average of $57.86 and a 200 day simple moving average of $52.98. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.60 by $0.16. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The business’s revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.46%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 168.42%.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently modified their holdings of AEM. AE Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines during the 3rd quarter valued at $231,000. Commonwealth Equity Services LLC lifted its position in shares of Agnico Eagle Mines by 4.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 83,299 shares of the mining company’s stock valued at $3,786,000 after acquiring an additional 3,519 shares during the last quarter. Raymond James & Associates raised its stake in Agnico Eagle Mines by 7.5% during the 3rd quarter. Raymond James & Associates now owns 315,658 shares of the mining company’s stock valued at $14,347,000 after purchasing an additional 22,019 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Agnico Eagle Mines by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 664,133 shares of the mining company’s stock valued at $30,185,000 after purchasing an additional 6,919 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co boosted its position in Agnico Eagle Mines by 1.8% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 156,859 shares of the mining company’s stock worth $6,540,000 after acquiring an additional 2,795 shares during the period. 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.