Equities Analysts Set Expectations for AEM FY2024 Earnings

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities research analysts at Raymond James increased their FY2024 earnings per share estimates for shares of Agnico Eagle Mines in a research note issued on Monday, February 3rd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings of $4.13 per share for the year, up from their previous forecast of $4.03. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $4.13 per share.

A number of other equities research analysts also recently weighed in on the company. Scotiabank boosted their price target on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Jefferies Financial Group boosted their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $90.50.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $95.62 on Wednesday. Agnico Eagle Mines has a twelve month low of $44.37 and a twelve month high of $97.01. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $48.03 billion, a price-to-earnings ratio of 47.81, a price-to-earnings-growth ratio of 0.62 and a beta of 1.10. The business has a 50 day simple moving average of $84.18 and a 200-day simple moving average of $81.91.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in Agnico Eagle Mines by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after acquiring an additional 32,991 shares during the period. Bridgewater Associates LP boosted its position in Agnico Eagle Mines by 123.2% during the 3rd quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock worth $16,448,000 after acquiring an additional 112,712 shares during the period. Caldwell Investment Management Ltd. boosted its position in Agnico Eagle Mines by 12.0% during the 4th quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock worth $6,812,000 after acquiring an additional 9,400 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Agnico Eagle Mines by 14.8% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock valued at $18,223,000 after buying an additional 29,106 shares during the period. Finally, Forsta AP Fonden lifted its holdings in shares of Agnico Eagle Mines by 8.9% in the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock valued at $15,256,000 after buying an additional 16,000 shares during the period. Institutional investors and hedge funds 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.