Analysts Offer Predictions for Agnico Eagle Mines Limited’s Q1 2024 Earnings (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Investment analysts at National Bank Financial issued their Q1 2024 earnings estimates for Agnico Eagle Mines in a note issued to investors on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the mining company will post earnings of $0.64 per share for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.51 per share.

Several other research firms have also recently issued reports on AEM. TD Securities decreased their price target on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday. Raymond James increased their price objective on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Finally, CIBC lowered their target price on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.14.

Agnico Eagle Mines Stock Down 2.5 %

NYSE:AEM opened at $62.22 on Monday. The company has a market cap of $31.02 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 0.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 2.09. The stock’s fifty day moving average price is $55.45 and its two-hundred day moving average price is $52.16. Agnico Eagle Mines has a 52-week low of $43.22 and a 52-week high of $64.19.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 26.9% on a year-over-year basis.

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 given a dividend of $0.40 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. Agnico Eagle Mines’s dividend payout ratio is 38.93%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its position in Agnico Eagle Mines by 64.6% in the 3rd quarter. CWM LLC now owns 4,181 shares of the mining company’s stock valued at $190,000 after acquiring an additional 1,641 shares in the last quarter. AE Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the third quarter worth about $231,000. Ronald Blue Trust Inc. grew its holdings in shares of Agnico Eagle Mines by 163.4% during the third quarter. Ronald Blue Trust Inc. now owns 1,578 shares of the mining company’s stock worth $79,000 after buying an additional 979 shares in the last quarter. Royal Fund Management LLC acquired a new stake in Agnico Eagle Mines in the 3rd quarter valued at approximately $1,098,000. Finally, Koshinski Asset Management Inc. acquired a new stake in Agnico Eagle Mines in the 3rd quarter valued at approximately $204,000. 68.34% of the stock is owned by institutional investors and hedge funds.

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.