Cormark Analysts Lift Earnings Estimates for Agnico Eagle Mines Limited (TSE:AEM)

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Equities researchers at Cormark boosted their Q1 2024 earnings estimates for shares of Agnico Eagle Mines in a note issued to investors on Monday, April 22nd. Cormark analyst R. Gray now anticipates that the company will post earnings per share of $0.80 for the quarter, up from their previous estimate of $0.74. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.44 per share.

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

Several other analysts also recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of Agnico Eagle Mines from C$92.00 to C$105.00 in a report on Tuesday. Veritas Investment Research lifted their target price on shares of Agnico Eagle Mines from C$88.40 to C$118.00 in a report on Friday, April 12th. National Bankshares reduced their price objective on shares of Agnico Eagle Mines from C$105.00 to C$104.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. TD Securities reduced their price objective on shares of Agnico Eagle Mines to C$62.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus raised their price objective on shares of Agnico Eagle Mines from C$94.00 to C$104.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Buy” and a consensus target price of C$97.50.

Agnico Eagle Mines Stock Up 0.8 %

Shares of TSE:AEM opened at C$85.96 on Tuesday. The company has a market cap of C$42.83 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 22.97 and a beta of 1.07. The firm’s 50-day simple moving average is C$75.80 and its 200-day simple moving average is C$70.86. The company has a quick ratio of 0.89, a current ratio of 2.09 and a debt-to-equity ratio of 10.32. Agnico Eagle Mines has a fifty-two week low of C$59.36 and a fifty-two week high of C$88.27.

Agnico Eagle Mines Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.537 dividend. This represents a $2.15 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio (DPR) is 39.74%.

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.