Agnico Eagle Mines Ltd. Forecasted to Post FY2016 Earnings of $0.48 Per Share (AEM)
Agnico Eagle Mines Ltd. (NYSE:AEM) – Equities research analysts at National Bank Financial lowered their FY2016 earnings estimates for shares of Agnico Eagle Mines in a research report issued to clients and investors on Wednesday. National Bank Financial analyst S. Parsons now forecasts that the firm will earn $0.48 per share for the year, down from their previous forecast of $0.68. National Bank Financial also issued estimates for Agnico Eagle Mines’ FY2017 earnings at $1.22 EPS.
Agnico Eagle Mines (NYSE:AEM) last announced its quarterly earnings results on Thursday, July 28th. The mining company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The company earned $537.60 million during the quarter, compared to analysts’ expectations of $507.37 million. Agnico Eagle Mines had a return on equity of 1.88% and a net margin of 1.61%. Agnico Eagle Mines’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS.
AEM has been the topic of several other reports. RBC Capital Markets reaffirmed a “sector perform” rating on shares of Agnico Eagle Mines in a research note on Monday, September 19th. HSBC reaffirmed a “buy” rating on shares of Agnico Eagle Mines in a research note on Thursday, July 7th. Dundee Securities lowered Agnico Eagle Mines from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. TD Securities reaffirmed a “hold” rating and issued a $61.00 price objective (up from $56.00) on shares of Agnico Eagle Mines in a research note on Saturday, August 13th. Finally, Citigroup Inc. assumed coverage on Agnico Eagle Mines in a research note on Tuesday, August 2nd. They issued a “sell” rating and a $44.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Agnico Eagle Mines presently has an average rating of “Hold” and a consensus target price of $53.05.
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Agnico Eagle Mines (NYSE:AEM) opened at 45.66 on Monday. The company has a 50 day moving average price of $51.36 and a 200 day moving average price of $49.72. Agnico Eagle Mines has a 12 month low of $24.80 and a 12 month high of $60.10. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 314.90 and a beta of -0.84.
Large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its stake in Agnico Eagle Mines by 7.8% in the second quarter. IFP Advisors Inc now owns 2,174 shares of the mining company’s stock valued at $116,000 after buying an additional 157 shares in the last quarter. Creative Planning increased its stake in Agnico Eagle Mines by 25.3% in the third quarter. Creative Planning now owns 2,974 shares of the mining company’s stock valued at $161,000 after buying an additional 600 shares in the last quarter. Seven Eight Capital LLC purchased a new stake in Agnico Eagle Mines during the second quarter valued at approximately $198,000. Riverhead Capital Management LLC increased its stake in Agnico Eagle Mines by 10.0% in the second quarter. Riverhead Capital Management LLC now owns 3,795 shares of the mining company’s stock valued at $534,000 after buying an additional 345 shares in the last quarter. Finally, Cipher Capital LP purchased a new stake in Agnico Eagle Mines during the second quarter valued at approximately $216,000. Hedge funds and other institutional investors own 62.03% of the company’s stock.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.
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