Raymond James Brokers Raise Earnings Estimates for Agnico Eagle Mines Limited (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM - Raymond James raised their Q2 2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a research note issued to investors on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.85 for the quarter, up from their previous estimate of $0.52. Raymond James currently has a "Outperform" rating and a $71.00 target price on the stock. The consensus estimate for Agnico Eagle Mines' current full-year earnings is $2.52 per share. Raymond James also issued estimates for Agnico Eagle Mines' Q3 2024 earnings at $0.88 EPS, Q4 2024 earnings at $0.90 EPS and FY2024 earnings at $3.25 EPS.

Several other analysts have also commented on AEM. Jefferies Financial Group boosted their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a "hold" rating in a research note on Monday. National Bank Financial restated an "outperform overweight" rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. CIBC dropped their target price on Agnico Eagle Mines from $72.00 to $69.00 and set an "outperform" rating for the company in a research report on Wednesday, February 7th. Finally, TD Securities dropped their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a "buy" rating for the company in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.14.

Agnico Eagle Mines Price Performance

AEM stock traded up $1.23 during trading on Thursday, hitting $64.92. The company had a trading volume of 4,837,525 shares, compared to its average volume of 3,302,061. The company has a fifty day moving average price of $56.54 and a two-hundred day moving average price of $52.46. The company has a current ratio of 2.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10. The company has a market cap of $32.37 billion, a P/E ratio of 15.80, a P/E/G ratio of 0.94 and a beta of 1.06. Agnico Eagle Mines has a fifty-two week low of $43.22 and a fifty-two week high of $65.49.

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

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.46%. Agnico Eagle Mines's dividend payout ratio is currently 38.93%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Blair William & Co. IL boosted its position in Agnico Eagle Mines by 5.9% during the third quarter. Blair William & Co. IL now owns 23,718 shares of the mining company's stock valued at $1,078,000 after purchasing an additional 1,313 shares during the last quarter. Raymond James & Associates boosted its position in Agnico Eagle Mines by 15.5% during the fourth quarter. Raymond James & Associates now owns 364,440 shares of the mining company's stock valued at $19,990,000 after purchasing an additional 48,782 shares during the last quarter. Wellington Management Group LLP boosted its position in Agnico Eagle Mines by 5.7% during the third quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company's stock valued at $28,752,000 after purchasing an additional 34,072 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $41,610,000. Finally, Sprott Inc. raised its stake in Agnico Eagle Mines by 4.1% in the third quarter. Sprott Inc. now owns 1,412,300 shares of the mining company's stock valued at $65,249,000 after buying an additional 55,032 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

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.