Agnico Eagle Mines Limited (TSE:AEM) Forecasted to Earn Q2 2024 Earnings of $1.16 Per Share

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Analysts at Raymond James lifted their Q2 2024 earnings per share estimates for shares of Agnico Eagle Mines in a research report issued on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $1.16 for the quarter, up from their previous forecast of $0.72. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.44 per share. Raymond James also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $1.20 EPS, Q4 2024 earnings at $1.23 EPS and FY2024 earnings at $4.44 EPS.

AEM has been the topic of several other reports. Canaccord Genuity Group lifted their price target on Agnico Eagle Mines from C$92.00 to C$105.00 in a research report on Tuesday. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Stifel Nicolaus raised their price objective on Agnico Eagle Mines from C$94.00 to C$104.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. TD Securities reduced their price objective on Agnico Eagle Mines to C$62.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Finally, Eight Capital raised their price objective on Agnico Eagle Mines from C$92.00 to C$105.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$97.50.

Agnico Eagle Mines Stock Up 0.9 %

Shares of AEM stock opened at C$89.55 on Thursday. Agnico Eagle Mines has a 1 year low of C$59.36 and a 1 year high of C$92.62. The stock has a market cap of C$44.62 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 22.97 and a beta of 1.07. The business’s fifty day moving average is C$76.84 and its 200-day moving average is C$71.10. The company has a debt-to-equity ratio of 10.32, a quick ratio of 0.89 and a current ratio of 2.09.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings results on Thursday, February 15th. The company reported C$0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.65 by C$0.13. Agnico Eagle Mines had a return on equity of 10.89% and a net margin of 29.29%. The company had revenue of C$2.39 billion for the quarter, compared to analysts’ expectations of C$2.04 billion.

Agnico Eagle Mines Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.537 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.15 annualized dividend and a yield of 2.40%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 39.74%.

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.