Cormark Forecasts Higher Earnings for Agnico Eagle Mines

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Equities researchers at Cormark raised their FY2024 earnings estimates for shares of Agnico Eagle Mines in a report issued on Friday, November 1st. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $5.84 for the year, up from their previous forecast of $5.66. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $5.50 per share. Cormark also issued estimates for Agnico Eagle Mines’ Q4 2024 earnings at $1.74 EPS.

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

Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus lifted their price target on Agnico Eagle Mines from C$114.00 to C$140.00 in a research report on Monday, October 21st. UBS Group upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Tuesday, September 17th. Eight Capital raised their price objective on shares of Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. Canaccord Genuity Group increased their target price on shares of Agnico Eagle Mines from C$105.00 to C$118.00 in a research note on Tuesday, July 23rd. Finally, National Bankshares increased their price objective on Agnico Eagle Mines from C$143.00 to C$144.00 and gave the company an “outperform” rating in a research report on Friday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$116.00.

Agnico Eagle Mines Trading Down 0.4 %

Agnico Eagle Mines stock opened at C$119.75 on Monday. Agnico Eagle Mines has a 12-month low of C$60.17 and a 12-month high of C$123.86. 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 stock has a market capitalization of C$60.00 billion, a PE ratio of 74.84, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10. The firm has a 50 day simple moving average of C$111.92 and a 200-day simple moving average of C$100.10.

Agnico Eagle Mines Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, November 29th. Agnico Eagle Mines’s dividend payout ratio is currently 135.63%.

Insider Buying and Selling

In other news, Director John Merfyn Roberts sold 2,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of C$111.84, for a total transaction of C$223,680.00. In related news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the business’s stock in a transaction that occurred on 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. Also, Director John Merfyn Roberts sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of C$111.84, for a total value of C$223,680.00. Over the last three months, insiders sold 115,000 shares of company stock worth $12,518,150. 0.08% of the stock is owned by company 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.