Cormark Reduces Earnings Estimates for Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities research analysts at Cormark decreased their Q3 2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a note issued to investors on Wednesday, October 23rd. Cormark analyst R. Gray now anticipates that the mining company will post earnings per share of $1.05 for the quarter, down from their previous forecast of $1.12. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.88 per share.

AEM has been the subject of several other research reports. Scotiabank raised their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. UBS Group began coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target for the company. TD Securities upped their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. CIBC raised their target price 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. Finally, Jefferies Financial Group upped their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Stock Down 1.2 %

Agnico Eagle Mines stock opened at $86.88 on Monday. The firm has a 50 day moving average price of $81.78 and a two-hundred day moving average price of $73.41. 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 has a 52-week low of $44.37 and a 52-week high of $89.00. The firm has a market cap of $43.46 billion, a price-to-earnings ratio of 91.45, a PEG ratio of 0.71 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.14. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently bought and sold shares of AEM. TD Asset Management Inc boosted its stake in shares of Agnico Eagle Mines by 24.1% in the 1st quarter. TD Asset Management Inc now owns 5,306,106 shares of the mining company’s stock worth $316,700,000 after buying an additional 1,031,142 shares during the last quarter. Capital Wealth Planning LLC increased its position in shares of Agnico Eagle Mines by 62.3% during the 1st quarter. Capital Wealth Planning LLC now owns 2,620,345 shares of the mining company’s stock valued at $156,304,000 after purchasing an additional 1,006,001 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Agnico Eagle Mines by 27.9% during the 1st quarter. National Bank of Canada FI now owns 4,007,554 shares of the mining company’s stock worth $239,051,000 after purchasing an additional 874,920 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Agnico Eagle Mines by 10.8% during the 1st quarter. First Eagle Investment Management LLC now owns 6,891,385 shares of the mining company’s stock worth $411,106,000 after purchasing an additional 672,503 shares during the period. Finally, Progeny 3 Inc. purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter worth about $18,151,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

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.