Cormark Weighs in on Agnico Eagle Mines Limited’s Q2 2024 Earnings (TSE:AEM)

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Research analysts at Cormark boosted their Q2 2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a note issued to investors on Monday, April 29th. Cormark analyst R. Gray now anticipates that the company will post earnings of $1.30 per share for the quarter, up from their prior forecast of $0.74. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.44 per share. Cormark also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $1.30 EPS, Q4 2024 earnings at $1.30 EPS, FY2024 earnings at $4.93 EPS and FY2025 earnings at $5.83 EPS.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its earnings results on Thursday, February 15th. The company reported C$0.78 EPS for the quarter, topping analysts’ consensus estimates of C$0.65 by C$0.13. Agnico Eagle Mines had a return on equity of 10.89% and a net margin of 29.29%. The firm had revenue of C$2.39 billion during the quarter, compared to analysts’ expectations of C$2.04 billion.

Several other equities research analysts also recently weighed in on the company. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. TD Securities reduced their price target on Agnico Eagle Mines to C$62.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Veritas Investment Research boosted their price objective on Agnico Eagle Mines from C$88.40 to C$118.00 in a research report on Friday, April 12th. Stifel Nicolaus upped their price objective on shares of Agnico Eagle Mines from C$94.00 to C$104.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, Eight Capital increased their price objective on shares of Agnico Eagle Mines from C$92.00 to C$105.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Five analysts have rated the stock with a buy rating, According to MarketBeat, Agnico Eagle Mines currently has an average rating of “Buy” and an average target price of C$97.50.

Agnico Eagle Mines Trading Up 0.7 %

TSE AEM opened at C$89.05 on Thursday. Agnico Eagle Mines has a 12 month low of C$59.36 and a 12 month high of C$92.62. The company’s 50-day moving average price is C$78.73 and its 200-day moving average price is C$71.84. The stock has a market cap of C$44.37 billion, a PE ratio of 16.46, a PEG ratio of 22.97 and a beta of 1.07. The company has a current ratio of 2.09, a quick ratio of 0.89 and a debt-to-equity ratio of 10.32.

Agnico Eagle Mines Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, June 14th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a 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.