Agnico Eagle Mines Limited (NYSE:AEM) Forecasted to Earn FY2024 Earnings of $3.31 Per Share

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities research analysts at National Bank Financial raised their FY2024 earnings estimates for shares of Agnico Eagle Mines in a research report issued on Monday, April 29th. National Bank Financial analyst M. Parkin now forecasts that the mining company will earn $3.31 per share for the year, up from their prior forecast of $2.24. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.23 per share. National Bank Financial also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $3.66 EPS.

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

Agnico Eagle Mines Trading Down 0.1 %

AEM opened at $65.06 on Thursday. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. Agnico Eagle Mines has a twelve month low of $43.22 and a twelve month high of $67.80. The stock has a market capitalization of $32.44 billion, a price-to-earnings ratio of 68.48, a P/E/G ratio of 0.75 and a beta of 1.04. The company has a 50-day simple moving average of $58.20 and a 200 day simple moving average of $53.07.

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

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid 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 payout ratio is presently 168.42%.

Institutional Trading of Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently modified their holdings of AEM. Stephens Consulting LLC bought a new stake in shares of Agnico Eagle Mines in the first quarter worth $30,000. Bruce G. Allen Investments LLC bought a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $33,000. CVA Family Office LLC bought a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $36,000. Janiczek Wealth Management LLC grew its stake in shares of Agnico Eagle Mines by 406.4% in the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after purchasing an additional 569 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the third quarter worth $34,000. Institutional investors own 68.34% of the company’s stock.

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.