Agnico Eagle Mines Ltd (AEM) to Post FY2017 Earnings of $1.08 Per Share, Desjardins Forecasts

Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) – Stock analysts at Desjardins upped their FY2017 earnings per share estimates for shares of Agnico Eagle Mines in a research report issued to clients and investors on Friday. Desjardins analyst J. Wolfson now anticipates that the mining company will earn $1.08 per share for the year, up from their prior estimate of $1.06. Desjardins currently has a “Buy” rating on the stock. Desjardins also issued estimates for Agnico Eagle Mines’ Q4 2017 earnings at $0.28 EPS, Q1 2018 earnings at $0.17 EPS and FY2018 earnings at $0.82 EPS.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, October 25th. The mining company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.17 by $0.11. Agnico Eagle Mines had a net margin of 12.47% and a return on equity of 5.61%.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Tuesday, January 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $77.00 target price on shares of Agnico Eagle Mines in a research note on Thursday, December 28th. Royal Bank of Canada set a $53.00 target price on shares of Agnico Eagle Mines and gave the stock a “hold” rating in a research note on Monday, October 23rd. TD Securities set a $53.00 target price on shares of Agnico Eagle Mines and gave the stock a “hold” rating in a research note on Thursday, October 19th. Finally, Credit Suisse Group set a $62.00 target price on shares of Agnico Eagle Mines and gave the stock a “buy” rating in a research note on Thursday, December 28th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $58.05.

Agnico Eagle Mines (AEM) opened at $47.93 on Monday. The company has a market cap of $11,140.00, a P/E ratio of 40.97, a price-to-earnings-growth ratio of 50.07 and a beta of -0.74. Agnico Eagle Mines has a one year low of $39.30 and a one year high of $51.86. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.70 and a current ratio of 3.85.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. WFG Advisors LP increased its stake in shares of Agnico Eagle Mines by 8.6% in the second quarter. WFG Advisors LP now owns 3,889 shares of the mining company’s stock worth $175,000 after buying an additional 309 shares during the period. Advisor Group Inc. increased its stake in shares of Agnico Eagle Mines by 2.5% in the second quarter. Advisor Group Inc. now owns 20,304 shares of the mining company’s stock worth $916,000 after buying an additional 497 shares during the period. Korea Investment CORP increased its stake in shares of Agnico Eagle Mines by 8.5% in the third quarter. Korea Investment CORP now owns 15,472 shares of the mining company’s stock worth $698,000 after buying an additional 1,214 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in Agnico Eagle Mines by 4.1% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 38,098 shares of the mining company’s stock valued at $1,718,000 after purchasing an additional 1,500 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Agnico Eagle Mines by 8.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,573 shares of the mining company’s stock valued at $930,000 after purchasing an additional 1,530 shares during the period. 58.33% of the stock is currently owned by institutional investors.

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About Agnico Eagle Mines

Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.

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

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