Q1 2024 EPS Estimates for Agnico Eagle Mines Limited (NYSE:AEM) Lifted by Raymond James

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Research analysts at Raymond James raised their Q1 2024 earnings per share estimates for Agnico Eagle Mines in a note issued to investors on Thursday, April 18th. Raymond James analyst F. Hamed now expects that the mining company will earn $0.61 per share for the quarter, up from their previous estimate of $0.57. 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 $2.51 per share.

Several other equities analysts also recently weighed in on AEM. Jefferies Financial Group assumed coverage on Agnico Eagle Mines in a research report on Thursday, February 29th. They set a “hold” rating and a $54.00 price target for the company. CIBC cut their target price on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. TD Securities decreased their price target on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $63.71.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $63.84 on Monday. Agnico Eagle Mines has a 12-month low of $43.22 and a 12-month high of $64.19. The stock has a market cap of $31.83 billion, a P/E ratio of 15.53, a PEG ratio of 0.96 and a beta of 1.06. The company has a current ratio of 2.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average of $55.15 and a two-hundred day moving average of $52.04.

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

Hedge Funds Weigh In On Agnico Eagle Mines

A number of hedge funds have recently modified their holdings of the stock. Blair William & Co. IL raised its holdings in shares of Agnico Eagle Mines by 5.9% in the third quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock valued at $1,078,000 after buying an additional 1,313 shares during the last quarter. Raymond James & Associates boosted its holdings in Agnico Eagle Mines by 15.5% in the fourth quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock valued at $19,990,000 after acquiring an additional 48,782 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Agnico Eagle Mines by 5.7% in the third quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock valued at $28,752,000 after buying an additional 34,072 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $41,610,000. Finally, Sprott Inc. grew its holdings in Agnico Eagle Mines by 4.1% during the 3rd quarter. Sprott Inc. now owns 1,412,300 shares of the mining company’s stock worth $65,249,000 after acquiring an additional 55,032 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio is presently 38.93%.

About Agnico Eagle Mines

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.