Brokerages expect that Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) will report earnings of $0.78 per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Agnico Eagle Mines' earnings, with estimates ranging from $0.75 to $0.83. Agnico Eagle Mines posted earnings of $0.23 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 239.1%. The firm is scheduled to issue its next quarterly earnings results on Thursday, April 29th.
On average, analysts expect that Agnico Eagle Mines will report full year earnings of $3.48 per share for the current year, with EPS estimates ranging from $3.02 to $3.81. For the next year, analysts anticipate that the company will post earnings of $3.36 per share, with EPS estimates ranging from $3.19 to $3.49. Zacks Investment Research's EPS averages are an average based on a survey of sell-side research firms that follow Agnico Eagle Mines.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, February 11th. The mining company reported $0.67 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.65 by $0.02. Agnico Eagle Mines had a return on equity of 7.22% and a net margin of 21.54%. During the same period in the prior year, the company earned $0.37 earnings per share.
AEM has been the subject of several research analyst reports. National Bank Financial reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, February 2nd. TD Securities reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research report on Thursday, February 18th. Canaccord Genuity reiterated a "buy" rating and issued a $120.00 price target on shares of Agnico Eagle Mines in a report on Friday, February 5th. Raymond James decreased their price objective on Agnico Eagle Mines from $95.00 to $91.00 and set an "outperform" rating for the company in a report on Friday, January 15th. Finally, JPMorgan Chase & Co. initiated coverage on Agnico Eagle Mines in a report on Wednesday, February 10th. They issued a "neutral" rating on the stock. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of "Buy" and an average price target of $86.78.
NYSE:AEM opened at $62.30 on Tuesday. The firm has a market capitalization of $15.17 billion, a P/E ratio of 23.69, a P/E/G ratio of 18.13 and a beta of 0.63. Agnico Eagle Mines has a twelve month low of $31.00 and a twelve month high of $89.23. The company has a fifty day moving average of $69.32 and a 200-day moving average of $74.82. The company has a quick ratio of 1.04, a current ratio of 2.37 and a debt-to-equity ratio of 0.30.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 22nd. Investors of record on Monday, March 1st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, February 26th. Agnico Eagle Mines's payout ratio is currently 144.33%.
Hedge funds have recently made changes to their positions in the company. Glenmede Trust Co. NA grew its position in Agnico Eagle Mines by 5.4% in the 4th quarter. Glenmede Trust Co. NA now owns 9,599 shares of the mining company's stock worth $676,000 after purchasing an additional 492 shares in the last quarter. Morgan Stanley boosted its stake in shares of Agnico Eagle Mines by 36.4% in the 4th quarter. Morgan Stanley now owns 1,183,912 shares of the mining company's stock worth $83,477,000 after buying an additional 316,228 shares during the last quarter. ADE LLC bought a new position in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $166,000. Paloma Partners Management Co increased its position in shares of Agnico Eagle Mines by 40.0% during the fourth quarter. Paloma Partners Management Co now owns 10,354 shares of the mining company's stock valued at $731,000 after acquiring an additional 2,958 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in Agnico Eagle Mines by 23.9% during the fourth quarter. Guggenheim Capital LLC now owns 132,068 shares of the mining company's stock worth $9,310,000 after acquiring an additional 25,516 shares during the period. Institutional investors own 61.62% of the company's stock.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
Read More: How is inflation measured?
Get a free copy of the Zacks research report on Agnico Eagle Mines (AEM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Tech Stocks To Buy On Sale
This too shall pass. Those four words should be taped to the computer screen of every investor. If you own shares of the tech sector, you’ve seen your portfolio take quite a hit. Tech stocks were largely immune from the effects of the pandemic.
However, as investors are looking to rebalance their portfolios, tech stocks were obvious targets for some profit-taking. And at the end of the day, that’s what I believe the latest tech selloff amounts to. Stocks don’t move in one direction all the time. Sure, there may be some saber-rattling about breaking up big tech. But with an election in less than two months, nobody will have the political will to do anything.
That doesn’t mean that it’s all going to be smooth sailing. Sure, the Federal Reserve did its part by promising low-interest rates until the end of time (or at least through 2023 whatever comes first). But the rest of 2020 is likely to be volatile for stocks.
First, there’s still the novel coronavirus hanging around. It’s not going to simply disappear after election day. That will take some combination of a vaccine and/or therapeutic. And all the likely candidates seem to be getting farther away the deeper into clinical trials they get.
And we have an election. But we are not likely to know the winner of the election on election night. In fact, for those who remember the spectacle of “hanging chads”, this election could make that one look like amateur hour.
The bottom line is there will be uncertainty. But there are always gains to be found, particularly now that their stock price has come down a little bit. Here are seven tech stocks that you can look to add or increase a position in now that they’re trading at a discount.
View the "7 Tech Stocks To Buy On Sale".
