Brokers Issue Forecasts for AEM FY2024 Earnings

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Research analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for Agnico Eagle Mines in a research report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek anticipates that the mining company will earn $3.93 per share for the year. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $4.07 per share. Scotiabank also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $4.52 EPS.

Several other research firms have also recently weighed in on AEM. Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday. UBS Group initiated coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target for the company. One 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.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $87.11.

Agnico Eagle Mines Stock Performance

AEM opened at $84.34 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. 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 $42.33 billion, a P/E ratio of 42.17, a price-to-earnings-growth ratio of 0.68 and a beta of 1.08. The business’s fifty day moving average is $81.82 and its 200-day moving average is $79.45.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of institutional investors have recently added to or reduced their stakes in AEM. CWA Asset Management Group LLC grew its stake in shares of Agnico Eagle Mines by 6.1% during the fourth quarter. CWA Asset Management Group LLC now owns 60,143 shares of the mining company’s stock worth $4,704,000 after buying an additional 3,475 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at $26,000. Confluence Investment Management LLC boosted its holdings in shares of Agnico Eagle Mines by 1.8% during the 4th quarter. Confluence Investment Management LLC now owns 20,408 shares of the mining company’s stock valued at $1,596,000 after acquiring an additional 351 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Agnico Eagle Mines by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 21,822 shares of the mining company’s stock worth $1,760,000 after purchasing an additional 302 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Agnico Eagle Mines by 22.3% in the third quarter. Lord Abbett & CO. LLC now owns 431,200 shares of the mining company’s stock valued at $34,736,000 after purchasing an additional 78,700 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.