Stock Analysis

Agnico Eagle Mines First Quarter 2024 Earnings: Beats Expectations

NYSE:AEM

Agnico Eagle Mines (NYSE:AEM) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$1.83b (up 21% from 1Q 2023).
  • Net income: US$347.2m (down 81% from 1Q 2023).
  • Profit margin: 19%.
  • EPS: US$0.70 (down from US$3.87 in 1Q 2023).
NYSE:AEM Earnings and Revenue Growth May 1st 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Agnico Eagle Mines Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 11%.

Looking ahead, revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Metals and Mining industry in the US.

Performance of the American Metals and Mining industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for Agnico Eagle Mines that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.