Agnico Eagle Mines Ltd to Post Q1 2019 Earnings of $0.02 Per Share, Desjardins Forecasts (AEM)

Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) – Research analysts at Desjardins cut their Q1 2019 earnings per share (EPS) estimates for Agnico Eagle Mines in a research note issued on Friday, April 12th. Desjardins analyst J. Wolfson now expects that the mining company will post earnings of $0.02 per share for the quarter, down from their previous forecast of $0.03. Desjardins has a “Hold” rating on the stock. Desjardins also issued estimates for Agnico Eagle Mines’ Q1 2020 earnings at $0.20 EPS, Q2 2020 earnings at $0.22 EPS, Q3 2020 earnings at $0.20 EPS, Q4 2020 earnings at $0.19 EPS and FY2020 earnings at $0.82 EPS.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 14th. The mining company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.11. Agnico Eagle Mines had a negative net margin of 14.91% and a positive return on equity of 1.48%. The company had revenue of $537.82 million during the quarter, compared to analyst estimates of $509.39 million. During the same period in the prior year, the firm earned $0.21 earnings per share.

A number of other analysts have also weighed in on AEM. BMO Capital Markets set a $46.00 price objective on shares of Agnico Eagle Mines and gave the stock a “buy” rating in a research note on Monday, December 17th. ValuEngine upgraded shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Friday, December 21st. Zacks Investment Research downgraded shares of Agnico Eagle Mines from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. CIBC reiterated a “buy” rating on shares of Agnico Eagle Mines in a report on Sunday, January 20th. Finally, Barclays downgraded shares of Agnico Eagle Mines from an “overweight” rating to an “equal weight” rating and set a $43.60 target price for the company. in a report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $50.61.

NYSE:AEM opened at $42.91 on Monday. Agnico Eagle Mines has a 1-year low of $32.18 and a 1-year high of $47.83. The stock has a market capitalization of $9.94 billion, a P/E ratio of 136.81, a price-to-earnings-growth ratio of 94.85 and a beta of -0.49. The company has a quick ratio of 1.60, a current ratio of 2.97 and a debt-to-equity ratio of 0.38.

A number of institutional investors have recently made changes to their positions in the business. Sciencast Management LP bought a new position in Agnico Eagle Mines in the first quarter worth about $395,000. Virtu Financial LLC acquired a new position in shares of Agnico Eagle Mines during the first quarter valued at about $233,000. Addenda Capital Inc. increased its holdings in shares of Agnico Eagle Mines by 243.2% during the first quarter. Addenda Capital Inc. now owns 301,360 shares of the mining company’s stock valued at $13,106,000 after acquiring an additional 213,550 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Agnico Eagle Mines by 18.2% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,600 shares of the mining company’s stock valued at $113,000 after acquiring an additional 400 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Agnico Eagle Mines by 16.4% during the fourth quarter. Deutsche Bank AG now owns 1,624,584 shares of the mining company’s stock valued at $65,629,000 after acquiring an additional 229,121 shares in the last quarter. Institutional investors and hedge funds own 60.93% 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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