What is Scotiabank’s Forecast for TSE:AEM FY2024 Earnings?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Stock analysts at Scotiabank boosted their FY2024 EPS estimates for shares of Agnico Eagle Mines in a research note issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now forecasts 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.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported C$1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of C$2.94 billion during the quarter, compared to analyst estimates of C$2.50 billion.

AEM has been the topic of a number of other reports. National Bankshares boosted their price target on shares of Agnico Eagle Mines from C$143.00 to C$144.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. UBS Group raised Agnico Eagle Mines to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, Stifel Nicolaus increased their target price on Agnico Eagle Mines from C$114.00 to C$140.00 in a report on Monday, October 21st. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$116.00.

Agnico Eagle Mines Stock Down 0.0 %

AEM stock opened at C$121.69 on Friday. Agnico Eagle Mines has a one year low of C$60.17 and a one year high of C$123.86. The company has a debt-to-equity ratio of 9.94, a quick ratio of 0.89 and a current ratio of 1.51. The firm has a market cap of C$60.97 billion, a PE ratio of 76.06, a PEG ratio of 22.97 and a beta of 1.10. The firm’s 50 day moving average price is C$115.88 and its 200-day moving average price is C$109.24.

Agnico Eagle Mines Cuts Dividend

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

Insider Activity

In other news, Senior Officer Ammar Al-Joundi sold 19,900 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of C$109.25, for a total value of C$2,174,075.00. Also, 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. Insiders sold 102,616 shares of company stock valued at $11,802,219 in the last three months. 0.08% of the stock is currently 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.