Q3 2018 EPS Estimates for Agnico Eagle Mines Ltd (AEM) Cut by Cormark

Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) – Stock analysts at Cormark cut their Q3 2018 earnings per share (EPS) estimates for Agnico Eagle Mines in a report released on Tuesday, October 16th. Cormark analyst R. Gray now expects that the mining company will post earnings of ($0.06) per share for the quarter, down from their prior forecast of $0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 25th. The mining company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.07). Agnico Eagle Mines had a return on equity of 3.07% and a net margin of 6.84%. The business had revenue of $556.28 million during the quarter, compared to the consensus estimate of $536.81 million. During the same quarter in the prior year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis.

A number of other analysts have also issued reports on the stock. ValuEngine raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. TD Securities lifted their price objective on Agnico Eagle Mines from $55.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Royal Bank of Canada restated a “buy” rating and issued a $54.00 price objective on shares of Agnico Eagle Mines in a report on Wednesday, September 19th. TheStreet downgraded Agnico Eagle Mines from a “b-” rating to a “c+” rating in a report on Wednesday, September 5th. Finally, Zacks Investment Research upgraded Agnico Eagle Mines from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $55.17.

NYSE AEM opened at $36.80 on Thursday. The company has a quick ratio of 2.83, a current ratio of 4.02 and a debt-to-equity ratio of 0.35. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 33.15 and a beta of -0.53. Agnico Eagle Mines has a 52 week low of $32.18 and a 52 week high of $49.80.

A number of institutional investors have recently made changes to their positions in AEM. Aperio Group LLC increased its holdings in shares of Agnico Eagle Mines by 9.5% during the third quarter. Aperio Group LLC now owns 199,576 shares of the mining company’s stock valued at $6,826,000 after acquiring an additional 17,393 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Agnico Eagle Mines by 30.3% during the third quarter. Nikko Asset Management Americas Inc. now owns 157,858 shares of the mining company’s stock valued at $5,427,000 after acquiring an additional 36,739 shares in the last quarter. First Manhattan Co. acquired a new position in shares of Agnico Eagle Mines during the third quarter valued at about $509,000. Rathbone Brothers plc increased its holdings in shares of Agnico Eagle Mines by 3.2% during the third quarter. Rathbone Brothers plc now owns 63,620 shares of the mining company’s stock valued at $2,172,000 after acquiring an additional 2,000 shares in the last quarter. Finally, United Services Automobile Association increased its holdings in shares of Agnico Eagle Mines by 7.1% during the second quarter. United Services Automobile Association now owns 674,700 shares of the mining company’s stock valued at $30,922,000 after acquiring an additional 45,000 shares in the last quarter. Institutional investors and hedge funds own 60.07% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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

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