Equities Analysts Set Expectations for Agnico Eagle Mines Limited’s Q2 2024 Earnings (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Analysts at Raymond James increased their Q2 2024 earnings per share estimates for Agnico Eagle Mines in a research note issued to investors on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.85 per share for the quarter, up from their previous estimate of $0.52. Raymond James 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.

A number of other brokerages also recently commented on AEM. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a report on Monday. TD Securities decreased their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Finally, CIBC decreased their target price on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.14.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $64.92 on Thursday. The company has a quick ratio of 0.74, a current ratio of 2.09 and a debt-to-equity ratio of 0.10. The company has a market cap of $32.37 billion, a PE ratio of 15.80, a P/E/G ratio of 0.94 and a beta of 1.06. The business has a 50 day moving average of $56.54 and a 200 day moving average of $52.46. Agnico Eagle Mines has a 52 week low of $43.22 and a 52 week high of $65.49.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 earnings per share 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 firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s revenue was up 26.9% on a year-over-year basis.

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 annualized dividend and a yield of 2.46%. Agnico Eagle Mines’s payout ratio is 38.93%.

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AEM. Stephens Consulting LLC purchased a new stake in Agnico Eagle Mines in the first quarter worth $30,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $33,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the third quarter worth $34,000. CVA Family Office LLC purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $36,000. Finally, Janiczek Wealth Management LLC grew its stake in shares of Agnico Eagle Mines by 406.4% in the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after acquiring an additional 569 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

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.