Raymond James Has Bullish Forecast for TSE:AEM Q3 Earnings

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Investment analysts at Raymond James upped their Q3 2024 earnings estimates for Agnico Eagle Mines in a report released on Monday, October 21st. Raymond James analyst F. Hamed now forecasts that the company will post earnings of $1.41 per share 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.

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

Other analysts also recently issued research reports about the company. Canaccord Genuity Group increased their target price on Agnico Eagle Mines from C$105.00 to C$118.00 in a research note on Tuesday, July 23rd. UBS Group upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Tuesday, September 17th. Stifel Nicolaus boosted their price objective on Agnico Eagle Mines from C$114.00 to C$140.00 in a report on Monday. Finally, Eight Capital increased their price target on shares of Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. Four 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 presently has an average rating of “Buy” and an average target price of C$110.29.

Agnico Eagle Mines Stock Performance

AEM stock opened at C$122.65 on Wednesday. The stock has a market cap of C$61.45 billion, a P/E ratio of 76.26, a P/E/G 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 52 week low of C$60.17 and a 52 week high of C$122.66. The firm has a 50 day simple moving average of C$109.34 and a 200 day simple moving average of C$98.04.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.547 per share. 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. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio is currently 135.63%.

Insider Activity at Agnico Eagle Mines

In other news, Director John Merfyn Roberts sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of C$111.84, for a total transaction of C$223,680.00. In other news, Director John Merfyn Roberts sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of C$111.84, for a total transaction of C$223,680.00. Also, Senior Officer Dominique Girard sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$109.29, for a total value of C$546,450.00. Insiders have sold 115,000 shares of company stock worth $12,518,150 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

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.