Q3 2024 Earnings Estimate for Agnico Eagle Mines Limited Issued By Raymond James (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Investment analysts at Raymond James boosted their Q3 2024 earnings per share (EPS) estimates for Agnico Eagle Mines in a note issued to investors on Monday, September 23rd. Raymond James analyst F. Hamed now forecasts that the mining company will earn $1.00 per share for the quarter, up from their previous forecast 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 posted its quarterly earnings data 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. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 EPS.

AEM has been the topic of a number of other research reports. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. BMO Capital Markets cut their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. CIBC raised their target price on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank boosted their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, July 12th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.67.

Agnico Eagle Mines Stock Up 1.7 %

Agnico Eagle Mines stock opened at $83.99 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. The stock has a market cap of $42.02 billion, a PE ratio of 88.41, a price-to-earnings-growth ratio of 0.77 and a beta of 1.10. Agnico Eagle Mines has a fifty-two week low of $43.22 and a fifty-two week high of $84.65. The firm’s 50-day simple moving average is $78.48 and its 200 day simple moving average is $69.46.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Continuum Advisory LLC increased its stake in shares of Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after purchasing an additional 363 shares in the last quarter. Stephens Consulting LLC purchased a new position in Agnico Eagle Mines in the 1st quarter valued at approximately $30,000. Abich Financial Wealth Management LLC bought a new stake in Agnico Eagle Mines during the 2nd quarter valued at $32,000. Janiczek Wealth Management LLC lifted its position in shares of Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after acquiring an additional 569 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $47,000. 68.34% of the stock is currently owned by institutional investors.

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.