Agnico Eagle Mines Limited (NYSE:AEM) to Post Q3 2024 Earnings of $1.00 Per Share, Raymond James Forecasts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities research analysts at Raymond James lifted their Q3 2024 earnings estimates for shares of Agnico Eagle Mines in a report released on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $1.00 for the quarter, up from their prior estimate of $0.88. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.65 per share.

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

A number of other equities research analysts have also weighed in on AEM. UBS Group began coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price on the stock. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. BMO Capital Markets cut their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Jefferies Financial Group upped their price target on Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Finally, Royal Bank of Canada raised their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus price target of $84.67.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $83.99 on Wednesday. The business has a 50 day moving average of $78.48 and a 200-day moving average of $69.46. The company has a market capitalization of $42.02 billion, a P/E ratio of 88.41, a P/E/G ratio of 0.77 and a beta of 1.10. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $84.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76.

Institutional Investors Weigh In On Agnico Eagle Mines

Several large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its holdings in shares of Agnico Eagle Mines by 0.3% during the 2nd quarter. Van ECK Associates Corp now owns 22,320,085 shares of the mining company’s stock worth $1,459,741,000 after buying an additional 58,681 shares in the last quarter. FIL Ltd boosted its stake in Agnico Eagle Mines by 16.4% during the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after acquiring an additional 2,831,794 shares in the last quarter. Vanguard Group Inc. grew its holdings in Agnico Eagle Mines by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock worth $963,320,000 after purchasing an additional 338,264 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Agnico Eagle Mines by 1.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock worth $868,638,000 after purchasing an additional 134,872 shares during the period. Finally, Capital World Investors increased its stake in Agnico Eagle Mines by 0.8% in the first quarter. Capital World Investors now owns 9,769,275 shares of the mining company’s stock valued at $582,529,000 after purchasing an additional 79,275 shares in the last quarter. Institutional investors and hedge funds 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.