Q1 2024 EPS Estimates for Agnico Eagle Mines Limited (NYSE:AEM) Boosted by Cormark

Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM - Investment analysts at Cormark raised their Q1 2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a research note issued on Monday, April 22nd. Cormark analyst R. Gray now forecasts that the mining company will earn $0.58 per share for the quarter, up from their prior forecast of $0.55. The consensus estimate for Agnico Eagle Mines' current full-year earnings is $2.51 per share.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group upped their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a "hold" rating in a research report on Monday. CIBC dropped their price objective on Agnico Eagle Mines from $72.00 to $69.00 and set an "outperform" rating on the stock in a report on Wednesday, February 7th. Raymond James increased their price objective on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an "outperform" rating in a report on Friday, January 12th. TD Securities dropped their price objective on Agnico Eagle Mines from $64.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, February 21st. Finally, National Bank Financial reissued an "outperform overweight" rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $64.14.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM traded up $0.66 during trading on Tuesday, reaching $62.92. 2,655,272 shares of the stock traded hands, compared to its average volume of 3,290,432. Agnico Eagle Mines has a 52-week low of $43.22 and a 52-week high of $64.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 0.74. The company has a 50-day moving average of $55.45 and a 200-day moving average of $52.16. The stock has a market capitalization of $31.37 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 0.96 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.09. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The business's revenue for the quarter was up 26.9% on a year-over-year basis.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.40 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.60 annualized dividend and a yield of 2.54%. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 38.93%.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently modified their holdings of AEM. Van ECK Associates Corp increased its stake in Agnico Eagle Mines by 9.5% in the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company's stock worth $1,264,791,000 after buying an additional 1,995,127 shares in the last quarter. FIL Ltd increased its position in shares of Agnico Eagle Mines by 16.4% during the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company's stock worth $1,102,481,000 after acquiring an additional 2,831,794 shares during the period. Vanguard Group Inc. increased its position in shares of Agnico Eagle Mines by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company's stock worth $963,320,000 after acquiring an additional 338,264 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Agnico Eagle Mines by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company's stock worth $626,981,000 after acquiring an additional 152,166 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Agnico Eagle Mines by 0.4% during the fourth quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company's stock valued at $538,193,000 after buying an additional 41,068 shares during the period. 68.34% of the stock is 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.