FY2024 EPS Forecast for Agnico Eagle Mines Raised by Analyst

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Equities research analysts at Scotiabank boosted their FY2024 earnings per share estimates for shares of Agnico Eagle Mines in a report released on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the company will post earnings per share of $5.64 for the year, up from their prior estimate of $4.75. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $5.50 per share. Scotiabank also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $6.49 EPS.

A number of other analysts have also recently issued reports on the stock. National Bankshares increased their price objective on shares of Agnico Eagle Mines from C$143.00 to C$144.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. UBS Group upgraded Agnico Eagle Mines to a “strong-buy” rating in a research note on Tuesday, September 17th. Finally, Stifel Nicolaus raised their price target on Agnico Eagle Mines from C$114.00 to C$140.00 in a report on Monday, October 21st. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Buy” and a consensus target price of C$116.00.

Agnico Eagle Mines Price Performance

TSE AEM opened at C$121.75 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.89 and a debt-to-equity ratio of 9.94. Agnico Eagle Mines has a 12 month low of C$60.17 and a 12 month high of C$123.86. The stock has a market cap of C$61.00 billion, a price-to-earnings ratio of 76.09, a PEG ratio of 22.97 and a beta of 1.10. The company’s 50 day moving average is C$115.84 and its two-hundred day moving average is C$108.86.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported C$1.56 EPS for the quarter, topping the consensus estimate of C$1.35 by C$0.21. The firm had revenue of C$2.94 billion for the quarter, compared to the consensus estimate of C$2.50 billion. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%.

Agnico Eagle Mines Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.31%. Agnico Eagle Mines’s payout ratio is 135.63%.

Insider Transactions at Agnico Eagle Mines

In related news, Director Sean Boyd sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of C$116.15, for a total value of C$1,161,500.00. Also, Senior Officer Ammar Al-Joundi sold 19,900 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$109.25, for a total transaction of C$2,174,075.00. Over the last three months, insiders have sold 80,116 shares of company stock valued at $9,061,719. 0.08% of the stock is currently owned by insiders.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.