Research Analysts Issue Forecasts for AEM FY2024 Earnings

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Stock analysts at National Bank Financial increased their FY2024 earnings estimates for Agnico Eagle Mines in a research note issued to investors on Thursday, October 31st. National Bank Financial analyst M. Parkin now anticipates that the mining company will post earnings of $4.36 per share for the year, up from their prior estimate of $4.32. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $4.05 per share.

Other equities research analysts have also issued reports about the stock. CIBC boosted their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. UBS Group started coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective for the company. Scotiabank increased their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group upped their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, TD Securities boosted their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Stock Performance

AEM opened at $85.82 on Monday. The stock’s 50 day simple moving average is $82.38 and its 200 day simple moving average is $74.46. The stock has a market cap of $43.06 billion, a P/E ratio of 42.64, a P/E/G ratio of 0.74 and a beta of 1.09. Agnico Eagle Mines has a 1-year low of $44.37 and a 1-year high of $89.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83.

Hedge Funds Weigh In On Agnico Eagle Mines

Hedge funds and other institutional investors have recently modified their holdings of the company. Manning & Napier Advisors LLC acquired a new stake in Agnico Eagle Mines during the 2nd quarter valued at $2,595,000. Capital Wealth Planning LLC boosted its holdings in Agnico Eagle Mines by 62.3% in the first quarter. Capital Wealth Planning LLC now owns 2,620,345 shares of the mining company’s stock valued at $156,304,000 after purchasing an additional 1,006,001 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Agnico Eagle Mines during the 1st quarter valued at approximately $878,000. Tidal Investments LLC increased its holdings in Agnico Eagle Mines by 87.8% during the 1st quarter. Tidal Investments LLC now owns 20,598 shares of the mining company’s stock worth $1,195,000 after purchasing an additional 9,628 shares during the last quarter. Finally, M&G Plc purchased a new position in shares of Agnico Eagle Mines during the 2nd quarter valued at approximately $1,802,000. 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.