Scotiabank Raises Earnings Estimates for Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Scotiabank raised their FY2025 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a research report issued to clients and investors on Friday, January 30th. Scotiabank analyst T. Jakusconek now anticipates that the mining company will earn $8.24 per share for the year, up from their prior forecast of $8.11. Scotiabank has a “Outperform” rating and a $276.00 price objective on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $4.63 per share.

AEM has been the topic of several other reports. JPMorgan Chase & Co. started coverage on shares of Agnico Eagle Mines in a research note on Thursday, January 29th. They issued a “neutral” rating and a $248.00 price target on the stock. Jefferies Financial Group set a $189.00 target price on Agnico Eagle Mines in a research report on Sunday, December 7th. UBS Group reiterated a “neutral” rating and set a $240.00 target price on shares of Agnico Eagle Mines in a report on Friday. Citigroup raised their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, TD Securities upped their price objective on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Buy” and an average target price of $224.73.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $197.11 on Monday. Agnico Eagle Mines has a 12 month low of $92.11 and a 12 month high of $225.00. The company’s fifty day simple moving average is $184.03 and its 200-day simple moving average is $163.64. The firm has a market cap of $98.69 billion, a PE ratio of 28.77, a P/E/G ratio of 0.47 and a beta of 0.63. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. increased its holdings in shares of Agnico Eagle Mines by 13.4% during the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock worth $192,951,000 after buying an additional 134,147 shares in the last quarter. Ninety One UK Ltd boosted its stake in shares of Agnico Eagle Mines by 386.5% during the third quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock valued at $31,703,000 after purchasing an additional 149,506 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of Agnico Eagle Mines by 1,560.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock valued at $8,205,000 after buying an additional 45,746 shares during the period. Addenda Capital Inc. boosted its position in Agnico Eagle Mines by 2.3% during the 3rd quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock worth $122,076,000 after buying an additional 15,965 shares during the period. Finally, AustralianSuper Pty Ltd acquired a new position in shares of Agnico Eagle Mines during the third quarter worth $23,958,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

About Agnico Eagle Mines

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.