Equities Analysts Offer Predictions for Agnico Eagle Mines Limited’s Q2 2024 Earnings (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Cormark decreased their Q2 2024 earnings per share (EPS) estimates for Agnico Eagle Mines in a research note issued to investors on Monday, June 24th. Cormark analyst R. Gray now anticipates that the mining company will post earnings per share of $0.88 for the quarter, down from their prior forecast of $0.95. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.16 per share. Cormark also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $0.88 EPS, Q4 2024 earnings at $0.87 EPS and FY2024 earnings at $3.39 EPS.

AEM has been the subject of several other reports. TD Securities lifted their price target on Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Citigroup boosted their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Scotiabank boosted their target price on Agnico Eagle Mines from $71.00 to $81.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. Finally, Jefferies Financial Group boosted their target price on Agnico Eagle Mines from $58.00 to $59.00 and gave the stock a “hold” rating in a research report on Thursday, June 20th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.22.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $65.36 on Thursday. The stock has a market cap of $32.70 billion, a PE ratio of 68.80, a price-to-earnings-growth ratio of 0.72 and a beta of 1.11. Agnico Eagle Mines has a fifty-two week low of $43.22 and a fifty-two week high of $71.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21. The stock has a fifty day moving average of $66.22 and a 200-day moving average of $57.79.

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

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at about $228,000. Envestnet Asset Management Inc. lifted its stake in shares of Agnico Eagle Mines by 35.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 309,020 shares of the mining company’s stock valued at $14,045,000 after acquiring an additional 81,652 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Agnico Eagle Mines by 60.9% in the 3rd quarter. Acadian Asset Management LLC now owns 6,001 shares of the mining company’s stock valued at $273,000 after acquiring an additional 2,271 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Agnico Eagle Mines by 4.9% in the 3rd quarter. LPL Financial LLC now owns 153,772 shares of the mining company’s stock valued at $6,989,000 after acquiring an additional 7,134 shares during the last quarter. Finally, Mariner LLC lifted its stake in shares of Agnico Eagle Mines by 16.6% in the 3rd quarter. Mariner LLC now owns 25,984 shares of the mining company’s stock valued at $1,181,000 after acquiring an additional 3,705 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

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.