FY2024 Earnings Forecast for Agnico Eagle Mines Limited (NYSE:AEM) Issued By Raymond James

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities research analysts at Raymond James upped their FY2024 earnings per share estimates for Agnico Eagle Mines in a research note issued on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $3.90 for the year, up from their previous forecast of $3.43. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.73 per share. Raymond James also issued estimates for Agnico Eagle Mines’ Q4 2024 earnings at $1.07 EPS, Q1 2025 earnings at $1.07 EPS, Q2 2025 earnings at $1.07 EPS, Q3 2025 earnings at $1.07 EPS, Q4 2025 earnings at $1.07 EPS and FY2025 earnings at $4.29 EPS.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share.

Several other equities research analysts also recently issued reports on the stock. CIBC raised their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Jefferies Financial Group boosted their price objective on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, July 12th. 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 note on Thursday, June 20th. UBS Group assumed coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Scotiabank raised their price objective on 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.67.

Agnico Eagle Mines Stock Performance

AEM opened at $81.83 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $78.99 and its two-hundred day moving average price is $69.84. The firm has a market capitalization of $40.94 billion, a P/E ratio of 86.14, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10. Agnico Eagle Mines has a 12-month low of $43.22 and a 12-month high of $85.14.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Sense Advisors Inc. increased its holdings in Agnico Eagle Mines by 372.3% during the 1st quarter. Financial Sense Advisors Inc. now owns 62,330 shares of the mining company’s stock valued at $3,718,000 after purchasing an additional 49,132 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth about $2,297,000. Manning & Napier Advisors LLC acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at about $2,595,000. FIL Ltd raised its stake in shares of Agnico Eagle Mines by 16.4% in the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after acquiring an additional 2,831,794 shares during the last quarter. Finally, Crestline Management LP lifted its position in shares of Agnico Eagle Mines by 28.8% during the fourth quarter. Crestline Management LP now owns 180,891 shares of the mining company’s stock worth $9,922,000 after purchasing an additional 40,483 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

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.