FY2024 EPS Forecast for Agnico Eagle Mines Cut by Analyst

Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM - Analysts at National Bank Financial lowered their FY2024 earnings estimates for shares of Agnico Eagle Mines in a research report issued to clients and investors on Monday, February 10th. National Bank Financial analyst M. Parkin now anticipates that the mining company will earn $4.16 per share for the year, down from their previous forecast of $4.36. The consensus estimate for Agnico Eagle Mines' current full-year earnings is $4.14 per share.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 8.88% and a net margin of 12.86%.

AEM has been the subject of several other research reports. Royal Bank of Canada boosted their price target on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Scotiabank lifted their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a "sector outperform" rating in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a "hold" rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $92.75.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock traded down $5.06 on Thursday, reaching $95.75. The company's stock had a trading volume of 4,623,011 shares, compared to its average volume of 1,902,290. Agnico Eagle Mines has a 52-week low of $45.75 and a 52-week high of $101.45. The company has a market capitalization of $48.09 billion, a P/E ratio of 47.87, a PEG ratio of 0.66 and a beta of 1.10. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $86.51 and a 200-day moving average price of $83.26.

Institutional Trading of Agnico Eagle Mines

Large investors have recently bought and sold shares of the business. Man Group plc lifted its stake in Agnico Eagle Mines by 78.6% in the 4th quarter. Man Group plc now owns 654,138 shares of the mining company's stock worth $51,160,000 after purchasing an additional 287,782 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Agnico Eagle Mines by 10.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,027,009 shares of the mining company's stock valued at $80,316,000 after purchasing an additional 99,148 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in Agnico Eagle Mines during the fourth quarter worth approximately $497,000. Lazard Asset Management LLC lifted its position in Agnico Eagle Mines by 0.4% during the fourth quarter. Lazard Asset Management LLC now owns 126,493 shares of the mining company's stock worth $9,893,000 after buying an additional 462 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its stake in Agnico Eagle Mines by 1.8% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company's stock worth $543,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a yield of 1.67%. Agnico Eagle Mines's payout ratio is presently 80.00%.

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.