National Bank Financial Forecasts TSE:AEM FY2024 Earnings

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Research analysts at National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a research report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now forecasts that the company will earn $5.96 per share for the year, up from their prior forecast of $5.20. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $5.50 per share. National Bank Financial also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $7.94 EPS.

A number of other equities analysts also recently commented on the company. Canaccord Genuity Group raised their price objective on Agnico Eagle Mines from C$105.00 to C$118.00 in a report on Tuesday, July 23rd. Stifel Nicolaus lifted their price target on shares of Agnico Eagle Mines from C$114.00 to C$140.00 in a research report on Monday, October 21st. UBS Group upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Tuesday, September 17th. Finally, Eight Capital raised their target price on shares of Agnico Eagle Mines from C$105.00 to C$115.00 in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$110.29.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at C$120.79 on Friday. The business’s fifty day moving average price is C$110.06 and its 200 day moving average price is C$98.75. Agnico Eagle Mines has a twelve month low of C$60.17 and a twelve month high of C$123.08. The company has a current ratio of 1.51, a quick ratio of 0.89 and a debt-to-equity ratio of 9.94. The stock has a market capitalization of C$60.52 billion, a P/E ratio of 75.49, a PEG ratio of 22.97 and a beta of 1.10.

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

Insider Activity

In related news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of Agnico Eagle Mines 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 other news, Director John Merfyn Roberts sold 2,000 shares of the 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 Carol-Ann Plummer-Theriault sold 25,000 shares of the firm’s stock in a transaction that occurred 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. Over the last three months, insiders sold 115,000 shares of company stock worth $12,518,150. 0.08% of the stock is currently owned by company insiders.

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 a boost 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 1.81%. The ex-dividend date of this dividend was Friday, August 30th. Agnico Eagle Mines’s payout ratio is presently 135.63%.

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.