Erste Group Bank Has Negative Opinion of AEM FY2027 Earnings

Key Points

• Erste Group Bank lowered Agnico Eagle Mines’ FY2027 EPS estimate to $12.35 from $12.50, though it remains above the consensus forecast of $11.46.
• Analyst sentiment remains positive overall, with 13 Buy ratings and four Holds, resulting in a “Moderate Buy” consensus and an average price target of $225.62.
• Agnico Eagle’s latest quarterly results exceeded expectations, with EPS of $3.05 versus $2.89 forecast and revenue up 35% year over year; institutional investors own 68.34% of the stock.

Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM - Investment analysts at Erste Group Bank cut their FY2027 earnings estimates for shares of Agnico Eagle Mines in a research report issued on Thursday, October 8th. Erste Group Bank analyst H. Engel now anticipates that the mining company will post earnings of $12.35 per share for the year, down from their prior forecast of $12.50. The consensus estimate for Agnico Eagle Mines' current full-year earnings is $11.46 per share.

A number of other research analysts also recently commented on AEM. Scotiabank reduced their price target on Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price objective on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Scotia dropped their price objective on Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating on the stock in a report on Friday, July 3rd. Bank of America cut their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce set a $285.00 target price on Agnico Eagle Mines in a research note on Thursday, July 16th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $225.62.

Agnico Eagle Mines Stock Down 0.3%

Shares of NYSE AEM opened at $188.47 on Tuesday. Agnico Eagle Mines has a 1 year low of $134.38 and a 1 year high of $255.24. The firm has a market cap of $95.55 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 2.37 and a beta of 0.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The stock's 50-day simple moving average is $193.68 and its 200-day simple moving average is $181.87.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $0.16. The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The firm's revenue for the quarter was up 35.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.94 EPS.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors have recently modified their holdings of AEM. Deutsche Bank AG acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth about $1,362,158,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Agnico Eagle Mines during the 2nd quarter valued at approximately $927,602,000. Bank of America Corp DE bought a new stake in Agnico Eagle Mines during the 2nd quarter valued at approximately $844,096,000. The Manufacturers Life Insurance Company acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at approximately $608,054,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at approximately $533,750,000. Institutional investors and hedge funds own 68.34% of the company's stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited NYSE: AEM is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company's principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world's largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.

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