Q3 2017 EPS Estimates for Agnico Eagle Mines Limited (AEM) Raised by Analyst

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Cormark boosted their Q3 2017 earnings estimates for shares of Agnico Eagle Mines Limited in a research report issued to clients and investors on Monday. Cormark analyst R. Gray now forecasts that the mining company will post earnings per share of $0.13 for the quarter, up from their previous forecast of $0.07.

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 26th. The mining company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.10. Agnico Eagle Mines Limited had a net margin of 11.32% and a return on equity of 5.38%. The company had revenue of $549.88 million during the quarter, compared to the consensus estimate of $529.43 million. During the same quarter in the prior year, the company posted $0.16 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year.

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Several other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Agnico Eagle Mines Limited from a “buy” rating to a “hold” rating in a report on Friday, October 6th. BMO Capital Markets reiterated a “hold” rating and set a $47.00 price target on shares of Agnico Eagle Mines Limited in a report on Monday, October 2nd. Credit Suisse Group reiterated a “buy” rating and set a $59.00 price target (down from $64.00) on shares of Agnico Eagle Mines Limited in a report on Monday, September 25th. National Bank Financial reiterated an “outperform market weight” rating on shares of Agnico Eagle Mines Limited in a report on Friday, September 8th. Finally, ValuEngine upgraded Agnico Eagle Mines Limited from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $54.44.

Agnico Eagle Mines Limited (NYSE AEM) opened at 45.08 on Tuesday. The firm has a market cap of $10.14 billion, a P/E ratio of 64.40 and a beta of -0.76. The stock’s 50 day moving average is $47.80 and its 200-day moving average is $46.73. Agnico Eagle Mines Limited has a 1-year low of $35.05 and a 1-year high of $53.17.

Several hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Agnico Eagle Mines Limited by 10.9% in the 2nd quarter. FMR LLC now owns 11,617,737 shares of the mining company’s stock valued at $523,909,000 after acquiring an additional 1,141,509 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Agnico Eagle Mines Limited by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 5,444,848 shares of the mining company’s stock valued at $245,672,000 after acquiring an additional 352,417 shares in the last quarter. Prudential PLC raised its stake in shares of Agnico Eagle Mines Limited by 0.9% in the 2nd quarter. Prudential PLC now owns 3,076,790 shares of the mining company’s stock valued at $138,825,000 after acquiring an additional 28,309 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of Agnico Eagle Mines Limited by 3.1% in the 2nd quarter. TD Asset Management Inc. now owns 2,861,685 shares of the mining company’s stock valued at $128,860,000 after acquiring an additional 86,145 shares in the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Agnico Eagle Mines Limited by 0.5% in the 2nd quarter. APG Asset Management N.V. now owns 2,544,012 shares of the mining company’s stock valued at $148,774,000 after acquiring an additional 11,959 shares in the last quarter. 59.00% of the stock is currently owned by institutional investors and hedge funds.

About Agnico Eagle Mines Limited

Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.

Earnings History and Estimates for Agnico Eagle Mines Limited (NYSE:AEM)

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