Agnico Eagle Mines Limited (TSE:AEM) Expected to Post FY2024 Earnings of $4.52 Per Share

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Equities researchers at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for Agnico Eagle Mines in a note issued to investors on Monday, April 29th. National Bank Financial analyst M. Parkin now anticipates that the company will earn $4.52 per share for the year, up from their previous estimate of $3.08. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.44 per share. National Bank Financial also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $5.00 EPS.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.78 earnings per share (EPS) for the quarter, topping 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 analyst estimates of C$2.04 billion. Agnico Eagle Mines had a return on equity of 10.89% and a net margin of 29.29%.

Several other analysts also recently commented on the company. Veritas Investment Research increased their price objective on Agnico Eagle Mines from C$88.40 to C$118.00 in a research note on Friday, April 12th. Canaccord Genuity Group increased their price objective on Agnico Eagle Mines from C$92.00 to C$105.00 in a research note on Tuesday, April 23rd. TD Securities lowered 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. Eight Capital increased 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. Finally, Stifel Nicolaus increased 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$97.50.

Agnico Eagle Mines Stock Up 0.7 %

Shares of TSE:AEM opened at C$89.05 on Thursday. The business’s 50 day simple moving average is C$78.73 and its two-hundred day simple moving average is C$71.84. The firm has a market cap of C$44.37 billion, a P/E ratio of 16.46, a PEG ratio of 22.97 and a beta of 1.07. 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 has a 52-week low of C$59.36 and a 52-week high of C$92.62.

Agnico Eagle Mines Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, June 14th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Friday, May 31st. Agnico Eagle Mines’s payout ratio is 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.