What is Zacks Research’s Forecast for AEM FY2024 Earnings?

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Research analysts at Zacks Research issued their FY2024 earnings per share (EPS) estimates for Agnico Eagle Mines in a report released on Tuesday, November 12th. Zacks Research analyst A. Barman forecasts that the mining company will post earnings per share of $3.92 for the year. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $4.05 per share. Zacks Research also issued estimates for Agnico Eagle Mines’ Q1 2025 earnings at $0.78 EPS, Q2 2025 earnings at $0.86 EPS, FY2025 earnings at $3.50 EPS, Q3 2026 earnings at $0.87 EPS and FY2026 earnings at $3.35 EPS.

Several other research analysts have also commented on the company. Jefferies Financial Group boosted their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Scotiabank boosted their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. UBS Group initiated coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, TD Securities increased their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $76.76 on Friday. The stock’s 50-day simple moving average is $82.43 and its two-hundred day simple moving average is $75.42. Agnico Eagle Mines has a twelve month low of $44.37 and a twelve month high of $89.00. The firm has a market capitalization of $38.51 billion, a P/E ratio of 38.38, a P/E/G ratio of 0.66 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Agnico Eagle Mines

Large investors have recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. increased its stake in Agnico Eagle Mines by 3.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 16,616 shares of the mining company’s stock worth $991,000 after purchasing an additional 585 shares during the period. Cumberland Partners Ltd purchased a new position in shares of Agnico Eagle Mines in the first quarter worth $639,000. Acadian Asset Management LLC raised its holdings in Agnico Eagle Mines by 12.5% during the 1st quarter. Acadian Asset Management LLC now owns 7,200 shares of the mining company’s stock valued at $429,000 after buying an additional 799 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in Agnico Eagle Mines by 1,244.4% during the 1st quarter. Hillsdale Investment Management Inc. now owns 12,100 shares of the mining company’s stock valued at $720,000 after buying an additional 11,200 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Agnico Eagle Mines by 5.6% in the 1st quarter. Clearbridge Investments LLC now owns 2,546,594 shares of the mining company’s stock worth $151,904,000 after acquiring an additional 135,351 shares during the last quarter. Hedge funds and other 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.