Agnico Eagle Mines Ltd. (NYSE:AEM) – Equities research analysts at National Bank Financial lowered their FY2016 earnings estimates for shares of Agnico Eagle Mines in a research report issued to clients and investors on Wednesday. National Bank Financial analyst S. Parsons now forecasts that the firm will earn $0.48 per share for the year, down from their previous forecast of $0.68. National Bank Financial also issued estimates for Agnico Eagle Mines’ FY2017 earnings at $1.22 EPS.
Agnico Eagle Mines (NYSE:AEM) last announced its quarterly earnings results on Thursday, July 28th. The mining company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The company earned $537.60 million during the quarter, compared to analysts’ expectations of $507.37 million. Agnico Eagle Mines had a return on equity of 1.88% and a net margin of 1.61%. Agnico Eagle Mines’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS.
AEM has been the topic of several other reports. RBC Capital Markets reaffirmed a “sector perform” rating on shares of Agnico Eagle Mines in a research note on Monday, September 19th. HSBC reaffirmed a “buy” rating on shares of Agnico Eagle Mines in a research note on Thursday, July 7th. Dundee Securities lowered Agnico Eagle Mines from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. TD Securities reaffirmed a “hold” rating and issued a $61.00 price objective (up from $56.00) on shares of Agnico Eagle Mines in a research note on Saturday, August 13th. Finally, Citigroup Inc. assumed coverage on Agnico Eagle Mines in a research note on Tuesday, August 2nd. They issued a “sell” rating and a $44.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Agnico Eagle Mines presently has an average rating of “Hold” and a consensus target price of $53.05.
Agnico Eagle Mines (NYSE:AEM) opened at 45.66 on Monday. The company has a 50 day moving average price of $51.36 and a 200 day moving average price of $49.72. Agnico Eagle Mines has a 12 month low of $24.80 and a 12 month high of $60.10. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 314.90 and a beta of -0.84.
Large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its stake in Agnico Eagle Mines by 7.8% in the second quarter. IFP Advisors Inc now owns 2,174 shares of the mining company’s stock valued at $116,000 after buying an additional 157 shares in the last quarter. Creative Planning increased its stake in Agnico Eagle Mines by 25.3% in the third quarter. Creative Planning now owns 2,974 shares of the mining company’s stock valued at $161,000 after buying an additional 600 shares in the last quarter. Seven Eight Capital LLC purchased a new stake in Agnico Eagle Mines during the second quarter valued at approximately $198,000. Riverhead Capital Management LLC increased its stake in Agnico Eagle Mines by 10.0% in the second quarter. Riverhead Capital Management LLC now owns 3,795 shares of the mining company’s stock valued at $534,000 after buying an additional 345 shares in the last quarter. Finally, Cipher Capital LP purchased a new stake in Agnico Eagle Mines during the second quarter valued at approximately $216,000. Hedge funds and other institutional investors own 62.03% of the company’s stock.
Agnico Eagle Mines Company Profile