FY2017 EPS Estimates for Agnico Eagle Mines Ltd (AEM) Increased by Analyst

Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) – Analysts at Desjardins lifted their FY2017 earnings per share (EPS) estimates for Agnico Eagle Mines in a research report issued on Friday. Desjardins analyst J. Wolfson now anticipates that the mining company will post earnings of $1.08 per share for the year, up from their previous estimate of $1.06. Desjardins currently has a “Buy” rating on the stock. Desjardins also issued estimates for Agnico Eagle Mines’ Q4 2017 earnings at $0.28 EPS, Q1 2018 earnings at $0.17 EPS and FY2018 earnings at $0.82 EPS.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, October 25th. The mining company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.11. Agnico Eagle Mines had a net margin of 12.47% and a return on equity of 5.61%.

Several other research analysts have also recently issued reports on AEM. Credit Suisse Group restated a “buy” rating and issued a $59.00 target price (down previously from $64.00) on shares of Agnico Eagle Mines in a report on Monday, September 25th. BMO Capital Markets restated a “hold” rating and issued a $47.00 target price on shares of Agnico Eagle Mines in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Tuesday, October 3rd. TD Securities set a $53.00 target price on shares of Agnico Eagle Mines and gave the company a “hold” rating in a report on Thursday, October 19th. Finally, Royal Bank of Canada set a $53.00 target price on shares of Agnico Eagle Mines and gave the company a “hold” rating in a report on Monday, October 23rd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $58.05.

Agnico Eagle Mines (NYSE AEM) opened at $47.23 on Monday. Agnico Eagle Mines has a twelve month low of $39.30 and a twelve month high of $51.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.85 and a quick ratio of 2.70. The stock has a market cap of $10,990.00, a price-to-earnings ratio of 40.37, a PEG ratio of 49.98 and a beta of -0.74.

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Agnico Eagle Mines by 6.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,444,848 shares of the mining company’s stock worth $245,672,000 after purchasing an additional 352,417 shares during the period. Stifel Financial Corp increased its holdings in shares of Agnico Eagle Mines by 136.3% in the 3rd quarter. Stifel Financial Corp now owns 94,727 shares of the mining company’s stock valued at $4,282,000 after purchasing an additional 54,646 shares in the last quarter. KLCM Advisors Inc. increased its holdings in shares of Agnico Eagle Mines by 20.1% in the 2nd quarter. KLCM Advisors Inc. now owns 23,900 shares of the mining company’s stock valued at $1,078,000 after purchasing an additional 4,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Agnico Eagle Mines by 2.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 797,109 shares of the mining company’s stock valued at $36,005,000 after purchasing an additional 16,304 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Agnico Eagle Mines by 1.6% in the 3rd quarter. Swiss National Bank now owns 2,070,553 shares of the mining company’s stock valued at $93,601,000 after purchasing an additional 31,700 shares in the last quarter. Hedge funds and other institutional investors own 58.31% of the company’s stock.

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Agnico Eagle Mines Company Profile

Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.

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

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