Stifel Canada Issues Optimistic Forecast for AEM Earnings

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Investment analysts at Stifel Canada upped their Q4 2024 earnings per share estimates for Agnico Eagle Mines in a note issued to investors on Tuesday, February 4th. Stifel Canada analyst I. Rico now anticipates that the mining company will post earnings per share of $1.24 for the quarter, up from their prior forecast of $1.23. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $4.13 per share. Stifel Canada also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $5.44 EPS and FY2026 earnings at $4.47 EPS.

Several other equities research analysts have also recently commented on AEM. Jefferies Financial Group boosted 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. Scotiabank upped their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.50.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $98.58 on Thursday. The company has a fifty day moving average price of $84.49 and a 200 day moving average price of $82.02. Agnico Eagle Mines has a 1-year low of $44.37 and a 1-year high of $99.70. The firm has a market cap of $49.51 billion, a PE ratio of 49.29, a PEG ratio of 0.62 and a beta of 1.10. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Agnico Eagle Mines by 43.5% in the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after purchasing an additional 4,562,005 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Agnico Eagle Mines by 16.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock valued at $474,660,000 after buying an additional 817,240 shares during the period. Van ECK Associates Corp raised its position in shares of Agnico Eagle Mines by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after buying an additional 778,919 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Agnico Eagle Mines by 262.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company’s stock worth $85,413,000 after acquiring an additional 767,912 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Agnico Eagle Mines by 17.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock worth $326,571,000 after acquiring an additional 591,178 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

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.