Equities Analysts Offer Predictions for Agnico Eagle Mines Limited’s Q1 2024 Earnings (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – National Bank Financial issued their Q1 2024 EPS estimates for Agnico Eagle Mines in a research note issued on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the mining company will post earnings per share of $0.64 for the quarter. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.51 per share.

Several other research analysts have also issued reports on the stock. CIBC dropped their price target on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. TD Securities reduced their price objective 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. Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research note on Monday. Finally, Raymond James lifted their price target on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.14.

Agnico Eagle Mines Stock Up 1.1 %

NYSE AEM opened at $62.92 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 2.09. The firm has a 50-day simple moving average of $55.81 and a 200 day simple moving average of $52.29. Agnico Eagle Mines has a twelve month low of $43.22 and a twelve month high of $64.19. The stock has a market cap of $31.37 billion, a PE ratio of 15.31, a PEG ratio of 0.96 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.09. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. 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 company earned $0.41 earnings per share. The firm’s revenue was up 26.9% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AEM. CWM LLC increased its stake in shares of Agnico Eagle Mines by 64.6% during the 3rd quarter. CWM LLC now owns 4,181 shares of the mining company’s stock worth $190,000 after purchasing an additional 1,641 shares during the last quarter. AE Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth about $231,000. Ronald Blue Trust Inc. boosted its holdings in shares of Agnico Eagle Mines by 163.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,578 shares of the mining company’s stock worth $79,000 after buying an additional 979 shares during the period. Royal Fund Management LLC bought a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth about $1,098,000. Finally, Koshinski Asset Management Inc. bought a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth about $204,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.54%. 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.