Cormark Research Analysts Lower Earnings Estimates for AEM

Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM - Equities research analysts at Cormark decreased their Q3 2024 earnings estimates for Agnico Eagle Mines in a research report issued on Wednesday, October 23rd. Cormark analyst R. Gray now anticipates that the mining company will post earnings of $1.05 per share for the quarter, down from their prior forecast of $1.12. The consensus estimate for Agnico Eagle Mines' current full-year earnings is $3.88 per share.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $0.65 EPS. The company's revenue was up 20.9% on a year-over-year basis.

AEM has been the topic of a number of other research reports. UBS Group began coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a "buy" rating and a $95.00 target price on the stock. Royal Bank of Canada boosted their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Jefferies Financial Group increased their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a "hold" rating in a report on Friday, October 4th. CIBC boosted their target price on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an "outperformer" rating in a research note on Wednesday, July 10th. Finally, Scotiabank lifted 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Moderate Buy" and an average target price of $86.78.

Agnico Eagle Mines Stock Down 0.1 %

Agnico Eagle Mines stock traded down $0.12 during mid-day trading on Monday, hitting $86.76. The company's stock had a trading volume of 1,762,526 shares, compared to its average volume of 2,667,874. Agnico Eagle Mines has a 52-week low of $44.37 and a 52-week high of $89.00. The company has a market cap of $43.40 billion, a PE ratio of 91.33, a price-to-earnings-growth ratio of 0.71 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76. The firm's 50 day moving average is $81.90 and its 200 day moving average is $73.58.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Financial Designs Inc. ADV boosted its stake in Agnico Eagle Mines by 1,903.9% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,545 shares of the mining company's stock valued at $205,000 after purchasing an additional 2,418 shares during the period. US Bancorp DE boosted its position in shares of Agnico Eagle Mines by 43.3% in the third quarter. US Bancorp DE now owns 6,595 shares of the mining company's stock valued at $531,000 after acquiring an additional 1,994 shares during the period. Oak Harvest Investment Services acquired a new stake in shares of Agnico Eagle Mines in the third quarter worth $7,923,000. First Trust Direct Indexing L.P. increased its position in 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 worth $514,000 after acquiring an additional 1,337 shares during the period. Finally, Golden State Equity Partners acquired a new position in Agnico Eagle Mines during the 3rd quarter valued at $205,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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.