Agnico Eagle Mines Limited (NYSE:AEM) Forecasted to Post Q3 2024 Earnings of $1.00 Per Share

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Stock analysts at Raymond James lifted their Q3 2024 earnings per share estimates for Agnico Eagle Mines in a research note issued to investors on Monday, September 23rd. Raymond James analyst F. Hamed now expects that the mining company will earn $1.00 per share for the quarter, up from their prior forecast of $0.88. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.73 per share.

Other equities analysts have also recently issued research reports about the company. TD Securities increased their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted 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. BMO Capital Markets reduced their target price on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. 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 research report on Monday, August 19th. Finally, Jefferies Financial Group increased their price objective on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a report on Friday, July 12th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.67.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $84.08 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. The company’s fifty day moving average price is $78.84 and its 200 day moving average price is $69.66. The stock has a market capitalization of $42.06 billion, a P/E ratio of 88.51, a P/E/G ratio of 0.78 and a beta of 1.10. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $85.14.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC raised its position in Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after purchasing an additional 363 shares during the period. Abich Financial Wealth Management LLC acquired a new position in Agnico Eagle Mines in the second quarter valued at about $32,000. Stephens Consulting LLC purchased a new position in Agnico Eagle Mines during the first quarter worth about $30,000. Janiczek Wealth Management LLC increased its position in shares of Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after acquiring an additional 569 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its stake in shares of Agnico Eagle Mines by 92.1% in the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after acquiring an additional 350 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.