Raymond James Has Optimistic Outlook of AEM FY2024 Earnings

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Research analysts at Raymond James increased their FY2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a research note issued to investors on Monday, February 3rd. Raymond James analyst F. Hamed now expects that the mining company will post earnings per share of $4.13 for the year, up from their prior forecast of $4.03. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $4.13 per share.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group raised their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. Scotiabank increased their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.50.

Agnico Eagle Mines Trading Up 0.4 %

AEM opened at $98.97 on Wednesday. Agnico Eagle Mines has a 1-year low of $44.37 and a 1-year high of $99.70. The stock has a market capitalization of $49.71 billion, a PE ratio of 49.48, a PEG ratio of 0.62 and a beta of 1.10. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $84.79 and a two-hundred day moving average price of $82.14.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors have recently made changes to their positions in AEM. Duncker Streett & Co. Inc. raised its stake in Agnico Eagle Mines by 37.3% during the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after buying an additional 112 shares during the period. Pinnacle Wealth Management Group Inc. increased its position in shares of Agnico Eagle Mines by 0.5% in the fourth quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock valued at $1,909,000 after acquiring an additional 125 shares during the last quarter. Diversify Wealth Management LLC increased its position in shares of Agnico Eagle Mines by 2.1% during the 4th quarter. Diversify Wealth Management LLC now owns 6,753 shares of the mining company’s stock worth $569,000 after purchasing an additional 141 shares during the last quarter. Sapient Capital LLC raised its position in Agnico Eagle Mines by 1.3% during the third quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock worth $886,000 after acquiring an additional 145 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Agnico Eagle Mines by 34.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the mining company’s stock valued at $51,000 after purchasing an additional 165 shares during the period. 68.34% of the stock is 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.