Equities Analysts Offer Predictions for AEM FY2024 Earnings

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Investment analysts at National Bank Financial boosted their FY2024 EPS estimates for Agnico Eagle Mines in a research note issued to investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now anticipates that the mining company will earn $4.32 per share for the year, up from their prior estimate of $3.74. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.88 per share. National Bank Financial also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $5.75 EPS.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. Agnico Eagle Mines’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS.

Other equities research analysts have also issued research reports about the stock. Scotiabank boosted their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. UBS Group started coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target on the stock. Jefferies Financial Group lifted their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, CIBC increased their target price on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Stock Down 0.7 %

Agnico Eagle Mines stock opened at $87.97 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76. The stock has a market capitalization of $44.01 billion, a PE ratio of 92.60, a price-to-earnings-growth ratio of 0.71 and a beta of 1.10. The business has a 50 day simple moving average of $81.64 and a 200-day simple moving average of $73.06. Agnico Eagle Mines has a 12 month low of $44.37 and a 12 month high of $89.00.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of institutional investors have recently added to or reduced their stakes in AEM. Sunbelt Securities Inc. purchased a new position in shares of Agnico Eagle Mines during the 1st quarter worth $66,000. Wealthcare Advisory Partners LLC purchased a new position in Agnico Eagle Mines during the first quarter worth about $426,000. Janiczek Wealth Management LLC raised its stake in 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 during the period. Galibier Capital Management Ltd. grew its stake in shares of Agnico Eagle Mines by 5.7% in the 1st quarter. Galibier Capital Management Ltd. now owns 489,610 shares of the mining company’s stock valued at $29,223,000 after buying an additional 26,524 shares during the period. Finally, Stephens Consulting LLC acquired a new stake in shares of Agnico Eagle Mines during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

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.