Raymond James Equities Analysts Raise Earnings Estimates for Agnico Eagle Mines Limited (TSE:AEM)

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Analysts at Raymond James upped their Q3 2024 earnings per share estimates for Agnico Eagle Mines in a report released on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the company will post earnings of $1.36 per share for the quarter, up from their prior estimate of $1.21. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $5.50 per share.

A number of other analysts also recently issued reports on the stock. Cormark raised their price target on shares of Agnico Eagle Mines from C$110.00 to C$115.00 in a report on Monday, June 24th. Eight Capital lifted their target price on Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. UBS Group raised Agnico Eagle Mines to a “strong-buy” rating in a research note on Tuesday, September 17th. National Bankshares set a C$104.00 price objective on Agnico Eagle Mines and gave the stock an “outperform” rating in a research report on Monday, June 24th. Finally, Canaccord Genuity Group upped their target price on shares of Agnico Eagle Mines from C$105.00 to C$118.00 in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$105.14.

Agnico Eagle Mines Price Performance

The company has a quick ratio of 0.89, a current ratio of 1.51 and a debt-to-equity ratio of 9.94. The stock has a market capitalization of C$56.77 billion, a P/E ratio of 71.37, a PEG ratio of 22.97 and a beta of 1.10. The stock’s 50 day moving average price is C$106.88 and its 200-day moving average price is C$93.88. Agnico Eagle Mines has a 52 week low of C$59.36 and a 52 week high of C$114.76.

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

Insiders Place Their Bets

In other Agnico Eagle Mines news, Senior Officer Jean Robitaille sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$113.42, for a total value of C$1,701,300.00. In related news, Senior Officer Jean Robitaille sold 15,000 shares of Agnico Eagle Mines stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$113.42, for a total value of C$1,701,300.00. Also, Director John Merfyn Roberts sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of C$112.32, for a total transaction of C$224,640.00. Insiders have sold a total of 115,000 shares of company stock worth $12,518,150 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

Agnico Eagle Mines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.547 dividend. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date 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 137.34%.

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.