Agnico Eagle Mines Limited Expected to Post FY2024 Earnings of $3.31 Per Share (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Research analysts at National Bank Financial boosted their FY2024 earnings estimates for Agnico Eagle Mines in a research report issued to clients and investors on Monday, April 29th. National Bank Financial analyst M. Parkin now anticipates that the mining company will earn $3.31 per share for the year, up from their previous estimate of $2.24. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.81 per share. National Bank Financial also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $3.66 EPS.

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

AEM has been the topic of a number of other research reports. Raymond James raised their price objective on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. Citigroup increased their price target on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group boosted their price objective on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. TD Securities lifted their target price on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, CIBC lifted their target price on Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and an average target price of $69.63.

Agnico Eagle Mines Stock Up 1.4 %

Agnico Eagle Mines stock opened at $64.24 on Thursday. The company’s 50-day moving average price is $57.55 and its two-hundred day moving average price is $52.90. The stock has a market cap of $32.03 billion, a price-to-earnings ratio of 67.62, a PEG ratio of 0.85 and a beta of 1.04. Agnico Eagle Mines has a 52 week low of $43.22 and a 52 week high of $67.80. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in shares of Agnico Eagle Mines by 9.5% during the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock worth $1,264,791,000 after purchasing an additional 1,995,127 shares in the last quarter. FIL Ltd raised its stake in shares of Agnico Eagle Mines by 16.4% during the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after purchasing an additional 2,831,794 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Agnico Eagle Mines by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock worth $963,320,000 after purchasing an additional 338,264 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Agnico Eagle Mines by 1.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock worth $626,981,000 after purchasing an additional 152,166 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Agnico Eagle Mines by 0.4% during the 4th quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock worth $538,193,000 after purchasing an additional 41,068 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.60 dividend on an annualized basis and a yield of 2.49%. 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.