Erste Group Bank Issues Positive Forecast for AEM Earnings

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Equities researchers at Erste Group Bank upped their FY2027 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a report released on Thursday, August 27th. Erste Group Bank analyst H. Engel now expects that the mining company will earn $12.54 per share for the year, up from their prior estimate of $12.51. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $11.56 per share.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The firm’s revenue was up 35.0% compared to the same quarter last year.

A number of other research analysts also recently issued reports on the company. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. upped their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Barclays lowered their price objective on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Wall Street Zen lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Citigroup reduced their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a report on Monday, July 27th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $226.00.

Agnico Eagle Mines Stock Performance

AEM opened at $203.16 on Monday. The company has a market capitalization of $102.98 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 2.56 and a beta of 0.61. The business’s 50-day moving average price is $166.23 and its two-hundred day moving average price is $187.22. Agnico Eagle Mines has a 1 year low of $134.38 and a 1 year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently made changes to their positions in AEM. HighTower Advisors LLC grew its stake in shares of Agnico Eagle Mines by 10.4% in the second quarter. HighTower Advisors LLC now owns 55,426 shares of the mining company’s stock valued at $8,598,000 after buying an additional 5,209 shares in the last quarter. Groupe la Francaise lifted its stake in Agnico Eagle Mines by 11.4% in the second quarter. Groupe la Francaise now owns 291,666 shares of the mining company’s stock valued at $45,336,000 after acquiring an additional 29,831 shares during the last quarter. Wedmont Private Capital lifted its stake in Agnico Eagle Mines by 27.5% in the second quarter. Wedmont Private Capital now owns 1,644 shares of the mining company’s stock valued at $241,000 after acquiring an additional 355 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Agnico Eagle Mines by 7.7% in the 2nd quarter. HB Wealth Management LLC now owns 7,199 shares of the mining company’s stock valued at $1,117,000 after acquiring an additional 513 shares during the period. Finally, Markowski Investments bought a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at about $29,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.