Scotiabank Reduces Earnings Estimates for Agnico Eagle Mines

Key Points

• Scotiabank lowered its FY2026 earnings estimate for Agnico Eagle Mines to $11.32 per share from $11.81, while keeping a Sector Outperform rating and a $260 price target. It also set FY2027 EPS at $10.82.
• Other analysts remain mixed but mostly positive, with Agnico Eagle Mines holding a Moderate Buy consensus and an average price target of $233.62. Recent moves included target cuts from Barclays and Bank of America, while Jefferies upgraded the stock to Buy.
• The stock was down 3.5% and opened at $137.24, well below its 52-week high of $255.24. Despite the pullback, the company recently reported stronger-than-expected quarterly earnings and revenue growth of 66.1% year over year.

Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM - Scotiabank decreased their FY2026 earnings estimates for Agnico Eagle Mines in a research note issued to investors on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now anticipates that the mining company will earn $11.32 per share for the year, down from their previous forecast of $11.81. 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 $12.44 per share. Scotiabank also issued estimates for Agnico Eagle Mines' FY2027 earnings at $10.82 EPS.

Several other equities analysts have also weighed in on AEM. Barclays cut their target price on Agnico Eagle Mines from $210.00 to $188.00 and set an "overweight" rating on the stock in a research note on Wednesday. TD upped their price target on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Bank of America cut their price target on shares of 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. Jefferies Financial Group raised shares of Agnico Eagle Mines from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $187.00 to $200.00 in a research note on Monday, July 6th. Finally, Erste Group Bank lowered shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Tuesday, March 24th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of "Moderate Buy" and an average target price of $233.62.

Agnico Eagle Mines Stock Down 3.5%

Shares of Agnico Eagle Mines stock opened at $137.24 on Friday. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 12 month low of $116.83 and a 12 month high of $255.24. The business has a fifty day simple moving average of $166.54 and a 200 day simple moving average of $191.80. The stock has a market cap of $69.66 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.87 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping analysts' consensus estimates of $3.19 by $0.21. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The business's quarterly revenue was up 66.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.53 EPS.

Institutional Investors Weigh In On Agnico Eagle Mines

Several large investors have recently made changes to their positions in AEM. Norges Bank bought a new stake in Agnico Eagle Mines in the 4th quarter valued at $1,367,783,000. Van ECK Associates Corp grew its holdings in shares of Agnico Eagle Mines by 21.6% during the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company's stock worth $2,920,258,000 after buying an additional 3,062,705 shares in the last quarter. Alberta Investment Management Corp acquired a new position in Agnico Eagle Mines during the 4th quarter worth approximately $194,195,000. Employees Provident Fund Board bought a new position in shares of Agnico Eagle Mines during the 4th quarter worth approximately $183,341,000. Finally, Auto Owners Insurance Co raised its holdings in shares of Agnico Eagle Mines by 16,853.0% in the fourth quarter. Auto Owners Insurance Co now owns 915,462 shares of the mining company's stock valued at $15,520,000 after purchasing an additional 910,062 shares during the last quarter. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited NYSE: AEM is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

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