Agnico Eagle Mines Limited Expected to Post Q1 2024 Earnings of $0.58 Per Share (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities researchers at Cormark raised their Q1 2024 earnings per share estimates for shares of Agnico Eagle Mines in a research report issued on Monday, April 22nd. Cormark analyst R. Gray now forecasts that the mining company will post earnings of $0.58 per share for the quarter, up from their prior estimate of $0.55. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.51 per share.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results 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 return on equity of 5.54% and a net margin of 29.29%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s revenue was up 26.9% compared to the same quarter last year.

A number of other research analysts have also recently commented on AEM. 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. CIBC lowered their price target on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a 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. TD Securities decreased their price objective 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. Finally, Raymond James upped their price objective on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $64.14.

Agnico Eagle Mines Stock Up 1.1 %

NYSE AEM opened at $62.92 on Tuesday. The stock’s 50 day moving average is $55.81 and its 200 day moving average is $52.29. The company has a current ratio of 2.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10. Agnico Eagle Mines has a 12 month low of $43.22 and a 12 month high of $64.19. The stock has a market cap of $31.37 billion, a PE ratio of 15.31, a P/E/G ratio of 0.96 and a beta of 1.06.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.60 annualized dividend and a yield of 2.54%. Agnico Eagle Mines’s payout ratio is presently 38.93%.

Institutional Trading of Agnico Eagle Mines

Several hedge funds and other institutional investors have recently bought and sold shares of AEM. Norges Bank purchased a new stake in Agnico Eagle Mines during the 4th quarter valued at $325,327,000. FIL Ltd grew its position in Agnico Eagle Mines by 16.4% in the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after acquiring an additional 2,831,794 shares during the last quarter. Clearbridge Investments LLC bought a new position in Agnico Eagle Mines in the 4th quarter valued at $132,257,000. Van ECK Associates Corp grew its position in Agnico Eagle Mines by 9.5% in the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock valued at $1,264,791,000 after acquiring an additional 1,995,127 shares during the last quarter. Finally, Capital Wealth Planning LLC bought a new position in Agnico Eagle Mines in the 4th quarter valued at $88,547,000. 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.