Cormark Predicts Higher Earnings for Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Stock analysts at Cormark boosted their FY2024 EPS estimates for shares of Agnico Eagle Mines in a note issued to investors on Friday, November 1st. Cormark analyst R. Gray now anticipates that the mining company will post earnings per share of $4.23 for the year, up from their prior estimate of $4.07. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $4.05 per share. Cormark also issued estimates for Agnico Eagle Mines’ Q4 2024 earnings at $1.26 EPS.

Several other equities analysts also recently commented on AEM. CIBC increased their price target on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. TD Securities boosted their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. UBS Group began coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Finally, Royal Bank of Canada increased their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $85.82 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The stock has a market capitalization of $43.06 billion, a P/E ratio of 42.64, a P/E/G ratio of 0.74 and a beta of 1.09. The business has a 50-day moving average of $82.38 and a two-hundred day moving average of $74.46. Agnico Eagle Mines has a fifty-two week low of $44.37 and a fifty-two week high of $89.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Continuum Advisory LLC lifted its holdings in Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after purchasing an additional 363 shares during the last quarter. FSC Wealth Advisors LLC bought a new position in Agnico Eagle Mines in the 3rd quarter valued at $32,000. Abich Financial Wealth Management LLC acquired a new position in Agnico Eagle Mines in the second quarter worth $32,000. 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 during the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in shares of Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after buying an additional 350 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.