Raymond James Issues Optimistic Outlook for TSE:AEM Earnings

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Analysts at Raymond James boosted their Q3 2024 earnings per share estimates for shares of Agnico Eagle Mines in a research report issued to clients and investors on Monday, October 21st. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $1.41 for the quarter, up from their previous estimate of $1.36. 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 $1.48 EPS and FY2024 earnings at $5.41 EPS.

Other equities analysts have also recently issued research reports about the company. Eight Capital increased their target price on Agnico Eagle Mines from C$105.00 to C$115.00 in a report on Thursday, July 11th. UBS Group upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Tuesday, September 17th. Canaccord Genuity Group increased their target price on Agnico Eagle Mines from C$105.00 to C$118.00 in a report on Tuesday, July 23rd. Finally, Stifel Nicolaus increased their target price on Agnico Eagle Mines from C$114.00 to C$140.00 in a report on Monday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$110.29.

Agnico Eagle Mines Stock Performance

The business’s 50-day moving average price is C$109.71 and its 200-day moving average price is C$98.35. The company has a market cap of C$61.03 billion, a PE ratio of 75.06, a PEG ratio of 22.97 and a beta of 1.10. The company has a debt-to-equity ratio of 9.94, a quick ratio of 0.89 and a current ratio of 1.51. Agnico Eagle Mines has a 1-year low of C$60.17 and a 1-year high of C$123.08.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its earnings results on Wednesday, July 31st. The company reported C$1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.27 by C$0.19. The firm had revenue of C$2.84 billion during the quarter, compared to analysts’ expectations of C$2.36 billion. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%.

Agnico Eagle Mines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.547 dividend. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.19 annualized dividend and a dividend yield of ?. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 135.63%.

Insider Activity

In other news, Director John Merfyn Roberts sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$111.84, for a total value of C$223,680.00. In related news, Senior Officer Dominique Girard sold 5,000 shares of Agnico Eagle Mines stock in a transaction dated Friday, August 16th. The stock was sold at an average price of C$109.29, for a total transaction of C$546,450.00. Also, Director John Merfyn Roberts sold 2,000 shares of Agnico Eagle Mines stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$111.84, for a total value of C$223,680.00. Insiders sold 115,000 shares of company stock worth $12,518,150 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

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.