Raymond James Comments on Agnico Eagle Mines Limited’s Q2 2024 Earnings (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Investment analysts at Raymond James raised their Q2 2024 earnings per share (EPS) estimates for Agnico Eagle Mines in a research note issued to investors on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings of $0.85 per share for the quarter, up from their previous forecast of $0.52. Raymond James currently has a “Outperform” rating and a $71.00 price objective on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.52 per share. Raymond James also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $0.88 EPS, Q4 2024 earnings at $0.90 EPS and FY2024 earnings at $3.25 EPS.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year.

Several other analysts also recently weighed in on the stock. TD Securities decreased their price target on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. CIBC decreased their price target on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research note on Monday. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.14.

Agnico Eagle Mines Stock Up 1.2 %

Shares of NYSE:AEM opened at $63.70 on Thursday. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $64.19. The business has a 50 day simple moving average of $56.18 and a two-hundred day simple moving average of $52.37. The firm has a market capitalization of $31.76 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 0.74.

Agnico Eagle Mines Dividend Announcement

The firm 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s payout ratio is presently 38.93%.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of large investors have recently made changes to their positions in AEM. Stephens Consulting LLC acquired a new position in shares of Agnico Eagle Mines during the first quarter worth $30,000. Bruce G. Allen Investments LLC acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth $33,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the third quarter worth $34,000. CVA Family Office LLC purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at $36,000. Finally, Janiczek Wealth Management LLC grew its holdings in shares of Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after buying an additional 569 shares during the last quarter. 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.