FY2024 Earnings Forecast for Agnico Eagle Mines Limited Issued By Raymond James (TSE:AEM)

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Analysts at Raymond James raised their FY2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a research report issued on Monday, September 23rd. Raymond James analyst F. Hamed now forecasts that the company will earn $5.30 per share for the year, up from their prior estimate of $4.72. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $5.50 per share. Raymond James also issued estimates for Agnico Eagle Mines’ Q4 2024 earnings at $1.46 EPS, Q1 2025 earnings at $1.46 EPS, Q2 2025 earnings at $1.46 EPS, Q3 2025 earnings at $1.46 EPS, Q4 2025 earnings at $1.46 EPS and FY2025 earnings at $5.83 EPS.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$1.46 EPS for the quarter, beating analysts’ consensus estimates of C$1.27 by C$0.19. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%. The business had revenue of C$2.84 billion for the quarter, compared to analyst estimates of C$2.36 billion.

AEM has been the topic of several other research reports. UBS Group raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Tuesday, September 17th. National Bankshares set a C$104.00 price objective on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Monday, June 24th. Cormark upped their target price on Agnico Eagle Mines from C$110.00 to C$115.00 in a research note on Monday, June 24th. Eight Capital increased their target price on Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. Finally, Canaccord Genuity Group lifted their price target on Agnico Eagle Mines from C$105.00 to C$118.00 in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$105.14.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at C$113.67 on Thursday. The stock has a market capitalization of C$56.95 billion, a P/E ratio of 71.94, a P/E/G ratio of 22.97 and a beta of 1.10. Agnico Eagle Mines has a 12-month low of C$59.36 and a 12-month high of C$114.76. The company has a debt-to-equity ratio of 9.94, a current ratio of 1.51 and a quick ratio of 0.89. The firm’s 50-day moving average is C$106.88 and its two-hundred day moving average is C$93.88.

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.547 per share. This represents a $2.19 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is 137.34%.

Insiders Place Their Bets

In other news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of Agnico Eagle Mines stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of C$101.85, for a total value of C$2,546,250.00. In related news, Senior Officer Dominique Girard sold 11,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of C$104.33, for a total value of C$1,147,630.00. Also, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of C$101.85, for a total value of C$2,546,250.00. Insiders sold 115,000 shares of company stock worth $12,518,150 over the last three months. 0.08% of the stock is owned by insiders.

Agnico Eagle Mines Company Profile

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.