National Bank Financial Predicts AEM FY2024 Earnings

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities research analysts at National Bank Financial upped their FY2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a report released on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now expects that the mining company will post earnings of $4.32 per share for the year, up from their prior forecast of $3.74. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.88 per share. National Bank Financial also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $5.75 EPS.

Other equities research analysts have also recently issued reports about the company. CIBC boosted their price objective on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. UBS Group started coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective on the stock. Royal Bank of Canada lifted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, Scotiabank lifted their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Trading Down 1.2 %

Shares of Agnico Eagle Mines stock opened at $86.88 on Friday. Agnico Eagle Mines has a 52-week low of $44.37 and a 52-week high of $89.00. The stock’s 50-day simple moving average is $81.78 and its 200 day simple moving average is $73.32. The stock has a market capitalization of $43.46 billion, a P/E ratio of 91.45, a P/E/G ratio of 0.71 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data 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. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the business posted $0.65 EPS. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Continuum Advisory LLC grew its holdings in shares of Agnico Eagle Mines by 1,134.4% during the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after purchasing an additional 363 shares in the last quarter. FSC Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the third quarter worth about $32,000. Abich Financial Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines during the second quarter worth about $32,000. Stephens Consulting LLC purchased a new position in shares of Agnico Eagle Mines during the first quarter worth about $30,000. Finally, McClarren Financial Advisors Inc. grew its holdings in shares of Agnico Eagle Mines by 684.6% during the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after purchasing an additional 445 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

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.