Agnico Eagle Mines Ltd (AEM) Forecasted to Earn FY2018 Earnings of $0.28 Per Share

Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) – Equities researchers at Cormark upped their FY2018 earnings estimates for shares of Agnico Eagle Mines in a report issued on Thursday, October 25th. Cormark analyst R. Gray now anticipates that the mining company will post earnings per share of $0.28 for the year, up from their previous estimate of $0.21. Cormark also issued estimates for Agnico Eagle Mines’ Q4 2018 earnings at $0.12 EPS, Q1 2019 earnings at $0.11 EPS, Q2 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.16 EPS and FY2019 earnings at $0.56 EPS.

Several other research analysts have also commented on AEM. Scotiabank set a $56.00 price target on Agnico Eagle Mines and gave the stock a “buy” rating in a research report on Tuesday. BMO Capital Markets set a $45.00 price target on Agnico Eagle Mines and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research raised Agnico Eagle Mines from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Canaccord Genuity reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, October 22nd. Finally, Barclays began coverage on Agnico Eagle Mines in a research report on Wednesday, October 10th. They issued an “overweight” rating and a $39.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $54.25.



AEM opened at $35.61 on Monday. The firm has a market capitalization of $8.24 billion, a PE ratio of 32.08 and a beta of -0.53. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.94 and a quick ratio of 1.88. Agnico Eagle Mines has a 12 month low of $32.18 and a 12 month high of $49.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, October 24th. The mining company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The firm had revenue of $518.68 million during the quarter, compared to analyst estimates of $497.68 million. Agnico Eagle Mines had a return on equity of 1.75% and a net margin of 4.60%. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS.

Large investors have recently made changes to their positions in the stock. US Bancorp DE increased its position in Agnico Eagle Mines by 54.5% during the 2nd quarter. US Bancorp DE now owns 3,750 shares of the mining company’s stock valued at $171,000 after buying an additional 1,323 shares in the last quarter. Credit Agricole S A increased its position in Agnico Eagle Mines by 1,675,000.0% during the 2nd quarter. Credit Agricole S A now owns 16,751 shares of the mining company’s stock valued at $767,000 after buying an additional 16,750 shares in the last quarter. OppenheimerFunds Inc. increased its position in Agnico Eagle Mines by 0.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 617,000 shares of the mining company’s stock valued at $28,277,000 after buying an additional 4,000 shares in the last quarter. Cheviot Value Management LLC increased its position in Agnico Eagle Mines by 7.9% during the 2nd quarter. Cheviot Value Management LLC now owns 168,136 shares of the mining company’s stock valued at $7,706,000 after buying an additional 12,360 shares in the last quarter. Finally, Sei Investments Co. increased its position in Agnico Eagle Mines by 160.2% during the 2nd quarter. Sei Investments Co. now owns 3,562 shares of the mining company’s stock valued at $163,000 after buying an additional 2,193 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

About Agnico Eagle Mines

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Earnings History and Estimates for Agnico Eagle Mines (NYSE:AEM)

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