National Bank Financial Forecasts AEM Q3 Earnings

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – National Bank Financial issued their Q3 2024 earnings per share estimates for Agnico Eagle Mines in a report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin anticipates that the mining company will earn $1.12 per share for the quarter. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.88 per share.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 EPS.

Other analysts have also recently issued reports about the stock. TD Securities increased their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank boosted their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. CIBC upped their target price on Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, UBS Group began coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target for the company. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Trading Down 1.1 %

Shares of Agnico Eagle Mines stock opened at $86.92 on Thursday. The company’s 50-day moving average price is $81.78 and its 200-day moving average price is $73.24. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a 12-month low of $44.37 and a 12-month high of $89.00. The company has a market cap of $43.48 billion, a price-to-earnings ratio of 91.49, a PEG ratio of 0.71 and a beta of 1.10.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of large investors have recently modified their holdings of the company. Oak Harvest Investment Services bought a new position in Agnico Eagle Mines during the third quarter valued at approximately $7,923,000. First Trust Direct Indexing L.P. raised its position in Agnico Eagle Mines by 26.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,380 shares of the mining company’s stock worth $514,000 after purchasing an additional 1,337 shares during the period. Golden State Equity Partners bought a new stake in Agnico Eagle Mines in the third quarter worth $205,000. Galibier Capital Management Ltd. boosted its position in Agnico Eagle Mines by 0.8% during the third quarter. Galibier Capital Management Ltd. now owns 429,912 shares of the mining company’s stock valued at $34,671,000 after buying an additional 3,361 shares during the period. Finally, Integrated Advisors Network LLC grew its stake in shares of Agnico Eagle Mines by 5.7% during the third quarter. Integrated Advisors Network LLC now owns 17,583 shares of the mining company’s stock valued at $1,416,000 after buying an additional 950 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

About Agnico Eagle Mines

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.