FY2027 EPS Forecast for Agnico Eagle Mines Lifted by Analyst

Key Points

• Scotiabank raised its FY2027 EPS forecast for Agnico Eagle Mines to $10.98 from $10.87, maintaining a “Sector Outperform” rating and a $260 price target.
• Agnico Eagle reported quarterly EPS of $2.62, beating the $2.47 consensus, while revenue rose 17.1% year over year to $3.54 billion.
• Analysts overall hold a “Moderate Buy” consensus rating, with an average price target of $227; 13 analysts rate the stock Buy and six rate it Hold.

Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM - Equities researchers at Scotiabank lifted their FY2027 earnings per share (EPS) estimates for Agnico Eagle Mines in a note issued to investors on Monday, November 2nd. Scotiabank analyst T. Jakusconek now forecasts that the mining company will earn $10.98 per share for the year, up from their prior estimate of $10.87. Scotiabank has a "Sector Outperform" rating and a $260.00 price target on the stock. The consensus estimate for Agnico Eagle Mines' current full-year earnings is $11.42 per share.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Wednesday, October 28th. The mining company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.15. Agnico Eagle Mines had a return on equity of 21.68% and a net margin of 41.01%. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the business posted $2.10 earnings per share. The firm's revenue for the quarter was up 17.1% compared to the same quarter last year.

A number of other research analysts have also recently commented on AEM. Zacks Research raised shares of Agnico Eagle Mines from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Barclays dropped their price target on shares of Agnico Eagle Mines from $218.00 to $215.00 and set an "overweight" rating for the company in a research report on Monday. RBC Dominion Securities set a $225.00 price target on shares of Agnico Eagle Mines and gave the company a "sector perform" rating in a research report on Thursday, October 22nd. Citigroup reduced their price target on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. Finally, UBS Group upped their price objective on shares of Agnico Eagle Mines from $170.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $227.00.

Agnico Eagle Mines Stock Up 9.4%

Shares of NYSE:AEM opened at $183.00 on Thursday. The company has a market capitalization of $92.77 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 2.54 and a beta of 0.69. Agnico Eagle Mines has a 12-month low of $134.38 and a 12-month high of $255.24. The business has a 50-day moving average price of $189.96 and a 200 day moving average price of $189.09. The company has a current ratio of 2.75, a quick ratio of 1.90 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors have recently modified their holdings of AEM. BIP Wealth LLC purchased a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at approximately $1,167,000. Engineers Gate Manager LP raised its holdings in shares of Agnico Eagle Mines by 914.3% in the 2nd quarter. Engineers Gate Manager LP now owns 30,246 shares of the mining company's stock valued at $4,692,000 after purchasing an additional 27,264 shares in the last quarter. Annex Advisory Services LLC raised its holdings in shares of Agnico Eagle Mines by 70.5% in the 2nd quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company's stock valued at $4,500,000 after purchasing an additional 11,995 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth $6,923,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its position in shares of Agnico Eagle Mines by 12.0% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company's stock worth $16,046,000 after purchasing an additional 11,100 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

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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