Agnico Eagle Mines Limited to Post Q2 2024 Earnings of $0.95 Per Share, Cormark Forecasts (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Investment analysts at Cormark lifted their Q2 2024 EPS estimates for Agnico Eagle Mines in a research note issued on Monday, April 29th. Cormark analyst R. Gray now expects that the mining company will post earnings of $0.95 per share for the quarter, up from their previous forecast of $0.55. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.81 per share. Cormark also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $0.95 EPS, Q4 2024 earnings at $0.95 EPS, FY2024 earnings at $3.61 EPS and FY2025 earnings at $4.27 EPS.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The firm’s revenue was up 21.2% on a year-over-year basis.

A number of other equities analysts have also weighed in on AEM. Raymond James upped 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. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. TD Securities upped their price target on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday. CIBC upped their price target on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.63.

Agnico Eagle Mines Stock Up 1.4 %

Shares of AEM stock opened at $64.24 on Thursday. The stock has a market cap of $32.03 billion, a P/E ratio of 67.62, a P/E/G ratio of 0.85 and a beta of 1.04. Agnico Eagle Mines has a 12 month low of $43.22 and a 12 month high of $67.80. The company has a 50 day simple moving average of $57.55 and a two-hundred day simple moving average of $52.90. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

Hedge Funds Weigh In On Agnico Eagle Mines

Several institutional investors have recently added to or reduced their stakes in AEM. Stephens Consulting LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter valued at $30,000. Bruce G. Allen Investments LLC purchased a new stake in Agnico Eagle Mines during the fourth quarter valued at approximately $33,000. CVA Family Office LLC bought a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $36,000. Janiczek Wealth Management LLC boosted its holdings in shares of Agnico Eagle Mines by 406.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after purchasing an additional 569 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Agnico Eagle Mines during the 3rd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Friday, May 31st. Agnico Eagle Mines’s payout ratio is presently 168.42%.

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.