National Bank Financial Forecasts AEM FY2024 Earnings

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Stock analysts at National Bank Financial upped their FY2024 earnings per share estimates for shares of Agnico Eagle Mines in a research report issued to clients and investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now anticipates that the mining company will earn $4.32 per share for the year, up from their prior estimate of $3.74. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.88 per share. National Bank Financial also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $5.75 EPS.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. Agnico Eagle Mines’s quarterly revenue was up 20.9% compared to the same quarter last year.

Several other analysts have also weighed in on the company. UBS Group began coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target on the stock. CIBC increased their price target on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank increased their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Royal Bank of Canada increased their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group increased their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $86.92 on Friday. The stock’s fifty day moving average is $81.78 and its 200 day moving average is $73.24. Agnico Eagle Mines has a fifty-two week low of $44.37 and a fifty-two week high of $89.00. The firm has a market capitalization of $43.48 billion, a PE ratio of 91.49, a PEG ratio of 0.71 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51.

Hedge Funds Weigh In On Agnico Eagle Mines

Several institutional investors have recently made changes to their positions in the company. Oak Harvest Investment Services purchased a new position in shares of Agnico Eagle Mines during the third quarter valued at $7,923,000. First Trust Direct Indexing L.P. increased its stake in shares of Agnico Eagle Mines by 26.5% during the third quarter. First Trust Direct Indexing L.P. now owns 6,380 shares of the mining company’s stock valued at $514,000 after buying an additional 1,337 shares during the period. Golden State Equity Partners bought a new stake in Agnico Eagle Mines during the third quarter valued at about $205,000. Galibier Capital Management Ltd. boosted its position in Agnico Eagle Mines by 0.8% during the third quarter. Galibier Capital Management Ltd. now owns 429,912 shares of the mining company’s stock valued at $34,671,000 after purchasing an additional 3,361 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its position in Agnico Eagle Mines by 5.7% during the third quarter. Integrated Advisors Network LLC now owns 17,583 shares of the mining company’s stock valued at $1,416,000 after purchasing an additional 950 shares in the last quarter. Hedge funds and other 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.