Q1 2024 Earnings Forecast for Agnico Eagle Mines Limited Issued By Raymond James (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Investment analysts at Raymond James raised their Q1 2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a research report issued on Thursday, April 18th. Raymond James analyst F. Hamed now anticipates that the mining company will earn $0.61 per share for the quarter, up from their previous forecast of $0.57. Raymond James has a “Outperform” rating and a $71.00 price target on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.51 per share.

A number of other research analysts have also weighed in on AEM. Jefferies Financial Group increased their price objective on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a report on Monday. CIBC reduced 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 report on Wednesday, February 7th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Finally, TD Securities cut their price objective on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.14.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $62.22 on Monday. The stock’s fifty day moving average price is $55.45 and its 200 day moving average price is $52.16. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $64.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 0.74. The company has a market cap of $31.02 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.96 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, beating 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 business 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 business posted $0.41 EPS. Agnico Eagle Mines’s revenue for the quarter was up 26.9% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Stephens Consulting LLC purchased a new position in Agnico Eagle Mines in the 1st quarter valued at about $30,000. Bruce G. Allen Investments LLC purchased a new position in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $33,000. CVA Family Office LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter worth approximately $36,000. Janiczek Wealth Management LLC increased its position 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 worth $42,000 after purchasing an additional 569 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Agnico Eagle Mines in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio is currently 38.93%.

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.