Agnico Eagle Mines (NYSE:AEM) Announces Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) issued its quarterly earnings results on Wednesday. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14, Briefing.com reports. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year.

Agnico Eagle Mines Price Performance

Shares of AEM traded down $1.47 during midday trading on Thursday, reaching $75.70. The stock had a trading volume of 1,753,070 shares, compared to its average volume of 2,810,247. The firm’s 50 day moving average price is $69.16 and its 200-day moving average price is $61.04. The company has a market capitalization of $37.87 billion, a P/E ratio of 80.07, a P/E/G ratio of 0.76 and a beta of 1.06. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88. Agnico Eagle Mines has a 52 week low of $43.22 and a 52 week high of $78.10.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AEM. CIBC boosted their price objective on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. TD Securities upped their price target on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a report on Friday, July 12th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Finally, StockNews.com raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.88.

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.