Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) – Analysts at Desjardins lifted their FY2017 earnings estimates for shares of Agnico Eagle Mines in a research note issued on Friday. Desjardins analyst J. Wolfson now forecasts that the mining company will post earnings per share of $1.08 for the year, up from their prior forecast of $1.06. Desjardins currently has a “Buy” rating on the stock. Desjardins also issued estimates for Agnico Eagle Mines’ Q4 2017 earnings at $0.28 EPS, Q1 2018 earnings at $0.17 EPS and FY2018 earnings at $0.82 EPS.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 25th. The mining company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. Agnico Eagle Mines had a net margin of 12.47% and a return on equity of 5.61%.
A number of other analysts have also issued reports on AEM. TD Securities lifted their price target on shares of Agnico Eagle Mines from $53.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday. Zacks Investment Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday, January 2nd. BMO Capital Markets reiterated a “hold” rating and set a $47.00 target price on shares of Agnico Eagle Mines in a research note on Monday, October 2nd. Royal Bank of Canada set a $53.00 target price on shares of Agnico Eagle Mines and gave the company a “hold” rating in a research note on Monday, October 23rd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $77.00 target price on shares of Agnico Eagle Mines in a research note on Thursday, December 28th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $58.05.
Shares of Agnico Eagle Mines (NYSE:AEM) opened at $47.23 on Monday. The company has a quick ratio of 2.70, a current ratio of 3.85 and a debt-to-equity ratio of 0.28. The stock has a market cap of $10,941.92, a price-to-earnings ratio of 40.37, a P/E/G ratio of 50.07 and a beta of -0.74. Agnico Eagle Mines has a 12 month low of $39.30 and a 12 month high of $51.86.
Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Agnico Eagle Mines by 6.9% during the second quarter. Vanguard Group Inc. now owns 5,444,848 shares of the mining company’s stock valued at $245,672,000 after purchasing an additional 352,417 shares during the last quarter. Stifel Financial Corp increased its stake in Agnico Eagle Mines by 136.3% during the third quarter. Stifel Financial Corp now owns 94,727 shares of the mining company’s stock valued at $4,282,000 after purchasing an additional 54,646 shares during the last quarter. KLCM Advisors Inc. boosted its holdings in shares of Agnico Eagle Mines by 20.1% during the second quarter. KLCM Advisors Inc. now owns 23,900 shares of the mining company’s stock valued at $1,078,000 after acquiring an additional 4,000 shares during the period. Swiss National Bank boosted its holdings in shares of Agnico Eagle Mines by 1.6% during the third quarter. Swiss National Bank now owns 2,070,553 shares of the mining company’s stock valued at $93,601,000 after acquiring an additional 31,700 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Agnico Eagle Mines by 2.1% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 797,109 shares of the mining company’s stock valued at $36,005,000 after acquiring an additional 16,304 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.
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About Agnico Eagle Mines
Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.
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