Cormark Lifts Earnings Estimates for Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Stock analysts at Cormark increased their FY2024 EPS estimates for Agnico Eagle Mines in a research note issued to investors on Friday, November 1st. Cormark analyst R. Gray now anticipates that the mining company will post earnings of $4.23 per share for the year, up from their prior estimate of $4.07. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $4.02 per share. Cormark also issued estimates for Agnico Eagle Mines’ Q4 2024 earnings at $1.26 EPS.

Several other research firms have also recently weighed in on AEM. Jefferies Financial Group increased their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. TD Securities upped their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Scotiabank lifted their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. UBS Group initiated coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price 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 given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $85.89 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.76. The company has a market cap of $43.09 billion, a PE ratio of 42.95, a price-to-earnings-growth ratio of 0.76 and a beta of 1.09. The firm has a fifty day moving average price of $82.30 and a two-hundred day moving average price of $74.30. Agnico Eagle Mines has a fifty-two week low of $44.37 and a fifty-two week high of $89.00.

Institutional Investors Weigh In On Agnico Eagle Mines

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp grew its stake in Agnico Eagle Mines by 0.3% during the second 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 during the last quarter. Massachusetts Financial Services Co. MA grew its position in Agnico Eagle Mines by 1.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock worth $868,638,000 after acquiring an additional 134,872 shares during the last quarter. Capital World Investors grew its position in Agnico Eagle Mines by 0.8% during the 1st quarter. Capital World Investors now owns 9,769,275 shares of the mining company’s stock worth $582,529,000 after acquiring an additional 79,275 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Agnico Eagle Mines by 10.8% in the first quarter. First Eagle Investment Management LLC now owns 6,891,385 shares of the mining company’s stock valued at $411,106,000 after buying an additional 672,503 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Agnico Eagle Mines by 4.1% during the 2nd quarter. CIBC Asset Management Inc now owns 6,083,606 shares of the mining company’s stock worth $397,657,000 after buying an additional 237,347 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.