Q2 2024 Earnings Forecast for Agnico Eagle Mines Limited (NYSE:AEM) Issued By Raymond James

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Analysts at Raymond James lifted their Q2 2024 earnings per share (EPS) estimates for Agnico Eagle Mines in a note issued to investors on Monday, July 22nd. Raymond James analyst F. Hamed now expects that the mining company will earn $0.91 per share for the quarter, up from their prior forecast of $0.83. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.42 per share. Raymond James also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $0.88 EPS and FY2024 earnings at $3.43 EPS.

A number of other equities research analysts also recently commented on the company. Citigroup increased their price objective on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Scotiabank increased their price objective on Agnico Eagle Mines from $71.00 to $81.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. TD Securities increased their price objective on Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. CIBC boosted their target price on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, StockNews.com raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.22.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $73.06 on Wednesday. Agnico Eagle Mines has a one year low of $43.22 and a one year high of $77.04. The stock has a fifty day moving average of $68.74 and a 200-day moving average of $60.34. The company has a market capitalization of $36.54 billion, a PE ratio of 76.91, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. The company’s quarterly revenue was up 21.2% compared to the same quarter last year.

Hedge Funds Weigh In On Agnico Eagle Mines

Hedge funds have recently modified their holdings of the stock. Continuum Advisory LLC increased its stake in shares of Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after acquiring an additional 363 shares during the last quarter. Stephens Consulting LLC acquired a new position in shares of Agnico Eagle Mines in the first quarter worth $30,000. CVA Family Office LLC acquired a new position in shares of Agnico Eagle Mines in the fourth quarter worth $36,000. Janiczek Wealth Management LLC increased 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. Finally, WASHINGTON TRUST Co increased its stake in shares of Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after acquiring an additional 350 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

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.