Raymond James Brokers Lift Earnings Estimates for TSE:AEM

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Stock analysts at Raymond James increased their Q3 2024 earnings per share estimates for Agnico Eagle Mines in a research report issued to clients and investors on Monday, October 21st. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $1.41 for the quarter, up from their prior forecast 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.

A number of other research firms have also weighed in on AEM. Canaccord Genuity Group boosted their target price on shares of Agnico Eagle Mines from C$105.00 to C$118.00 in a report on Tuesday, July 23rd. Stifel Nicolaus increased their price target on Agnico Eagle Mines from C$114.00 to C$140.00 in a research note on Monday. Eight Capital lifted their price target on Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. Finally, UBS Group raised Agnico Eagle Mines to a “strong-buy” rating in a report on Tuesday, September 17th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$110.29.

Agnico Eagle Mines Trading Up 0.8 %

AEM stock opened at C$122.65 on Wednesday. The company has a debt-to-equity ratio of 9.94, a quick ratio of 0.89 and a current ratio of 1.51. The company has a market capitalization of C$61.45 billion, a PE ratio of 76.26, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10. The company’s 50-day simple moving average is C$109.34 and its 200 day simple moving average is C$98.04. Agnico Eagle Mines has a 52 week low of C$60.17 and a 52 week high of C$122.66.

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

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.547 per share. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $2.19 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Friday, August 30th. Agnico Eagle Mines’s dividend payout ratio is currently 135.63%.

Insider Activity

In other news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of C$101.85, for a total transaction of C$2,546,250.00. In related news, Senior Officer Dominique Girard sold 5,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$109.29, for a total transaction of C$546,450.00. Also, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$101.85, for a total transaction of C$2,546,250.00. Insiders sold 115,000 shares of company stock valued at $12,518,150 in the last ninety days. Insiders own 0.08% of the company’s stock.

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.