Equities Analysts Set Expectations for AEM FY2024 Earnings

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Investment analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a research report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek anticipates that the mining company will earn $3.93 per share for the year. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $4.07 per share. Scotiabank also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $4.52 EPS.

Other analysts have also recently issued reports about the stock. UBS Group initiated coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. Jefferies Financial Group lifted their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average target price of $87.11.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $83.41 on Friday. Agnico Eagle Mines has a fifty-two week low of $44.37 and a fifty-two week high of $89.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The firm has a market capitalization of $41.86 billion, a price-to-earnings ratio of 41.71, a PEG ratio of 0.68 and a beta of 1.08. The stock’s 50-day simple moving average is $81.82 and its 200-day simple moving average is $79.45.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of institutional investors have recently modified their holdings of the stock. CWA Asset Management Group LLC grew its stake in shares of Agnico Eagle Mines by 6.1% during the 4th quarter. CWA Asset Management Group LLC now owns 60,143 shares of the mining company’s stock worth $4,704,000 after purchasing an additional 3,475 shares during the period. Versant Capital Management Inc purchased a new stake in Agnico Eagle Mines during the fourth quarter worth $26,000. Confluence Investment Management LLC grew its position in Agnico Eagle Mines by 1.8% during the fourth quarter. Confluence Investment Management LLC now owns 20,408 shares of the mining company’s stock valued at $1,596,000 after buying an additional 351 shares during the period. Principal Financial Group Inc. increased its holdings in Agnico Eagle Mines by 1.4% in the third quarter. Principal Financial Group Inc. now owns 21,822 shares of the mining company’s stock valued at $1,760,000 after buying an additional 302 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of Agnico Eagle Mines by 22.3% in the third quarter. Lord Abbett & CO. LLC now owns 431,200 shares of the mining company’s stock worth $34,736,000 after acquiring an additional 78,700 shares during the period. Hedge funds and other 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.