Raymond James Comments on Agnico Eagle Mines Limited’s Q2 2024 Earnings (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Research analysts at Raymond James boosted their Q2 2024 earnings per share estimates for shares of Agnico Eagle Mines in a report released on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the mining company will earn $0.85 per share for the quarter, up from their previous forecast of $0.52. Raymond James currently has a “Outperform” rating and a $71.00 price target 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.

Other research analysts have also issued research reports about the company. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Jefferies Financial Group raised their target price on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a report on Monday. TD Securities dropped their target price 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, CIBC dropped their target price 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.14.

Agnico Eagle Mines Stock Up 1.2 %

Shares of NYSE:AEM opened at $63.70 on Thursday. The business’s 50 day simple moving average is $56.18 and its two-hundred day simple moving average is $52.37. The firm has a market cap of $31.76 billion, a P/E ratio of 15.50, a PEG ratio of 0.93 and a beta of 1.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 2.09. Agnico Eagle Mines has a 52-week low of $43.22 and a 52-week high of $64.19.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its 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. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s payout ratio is 38.93%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Simplicity Wealth LLC bought a new position in Agnico Eagle Mines during the 1st quarter valued at approximately $2,735,000. NBT Bank N A NY raised its position in shares of Agnico Eagle Mines by 33.2% in the 1st quarter. NBT Bank N A NY now owns 10,320 shares of the mining company’s stock worth $616,000 after acquiring an additional 2,572 shares in the last quarter. Mason & Associates Inc bought a new position in shares of Agnico Eagle Mines in the 1st quarter worth approximately $310,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Agnico Eagle Mines by 7.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 110,498 shares of the mining company’s stock worth $6,591,000 after acquiring an additional 7,834 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. bought a new position in shares of Agnico Eagle Mines in the 1st quarter worth approximately $214,000. Institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

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.