Scotiabank Boosts Earnings Estimates for Agnico Eagle Mines

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Stock analysts at Scotiabank boosted their FY2024 earnings per share estimates for Agnico Eagle Mines in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the company will earn $5.64 per share for the year, up from their previous estimate of $4.75. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $5.50 per share. Scotiabank also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $6.49 EPS.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its quarterly earnings results on Wednesday, October 30th. The company reported C$1.56 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.35 by C$0.21. The company had revenue of C$2.94 billion for the quarter, compared to analyst estimates of C$2.50 billion. Agnico Eagle Mines had a net margin of 8.49% and a return on equity of 3.10%.

AEM has been the topic of a number of other reports. UBS Group upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Tuesday, September 17th. Stifel Nicolaus boosted their price target on shares of Agnico Eagle Mines from C$114.00 to C$140.00 in a report on Monday, October 21st. Finally, National Bankshares raised their price objective on shares of Agnico Eagle Mines from C$143.00 to C$144.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. 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 data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$116.00.

Agnico Eagle Mines Price Performance

Shares of TSE AEM opened at C$121.69 on Friday. The company has a market capitalization of C$60.97 billion, a PE ratio of 76.06, a PEG ratio of 22.97 and a beta of 1.10. 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’s 50 day moving average price is C$115.84 and its 200-day moving average price is C$108.86. Agnico Eagle Mines has a twelve month low of C$60.17 and a twelve month high of C$123.86.

Agnico Eagle Mines Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.40 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 1.31%. Agnico Eagle Mines’s payout ratio is 135.63%.

Insider Activity

In other news, Director Sean Boyd sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of C$116.15, for a total value of C$1,161,500.00. Also, Senior Officer Ammar Al-Joundi sold 19,900 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$109.25, for a total transaction of C$2,174,075.00. Insiders have sold a total of 102,616 shares of company stock valued at $11,802,219 over the last quarter. Company 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.