Cormark Increases Earnings Estimates for Agnico Eagle Mines

Agnico Eagle Mines Limited (TSE:AEM - Free Report) NYSE: AEM - Analysts at Cormark upped their FY2024 earnings estimates for Agnico Eagle Mines in a report released on Friday, November 1st. Cormark analyst R. Gray now expects that the company will earn $5.84 per share for the year, up from their prior forecast of $5.66. The consensus estimate for Agnico Eagle Mines' current full-year earnings is $5.50 per share. Cormark also issued estimates for Agnico Eagle Mines' Q4 2024 earnings at $1.74 EPS.

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

A number of other equities research analysts also recently weighed in on AEM. Eight Capital raised their price target on Agnico Eagle Mines from C$105.00 to C$115.00 in a research note on Thursday, July 11th. National Bankshares raised their price objective on shares of Agnico Eagle Mines from C$143.00 to C$144.00 and gave the company an "outperform" rating in a research report on Friday. Canaccord Genuity Group boosted 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. Stifel Nicolaus raised 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, UBS Group upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of "Buy" and an average price target of C$116.00.

Agnico Eagle Mines Stock Down 0.3 %

Shares of TSE:AEM traded down C$0.35 during midday trading on Monday, hitting C$119.40. 1,013,174 shares of the stock were exchanged, compared to its average volume of 1,222,022. The company has a market capitalization of C$59.82 billion, a PE ratio of 74.48, a P/E/G ratio of 22.97 and a beta of 1.10. Agnico Eagle Mines has a 52-week low of C$60.17 and a 52-week high of C$123.86. 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 business's fifty day simple moving average is C$111.92 and its two-hundred day simple moving average is C$100.10.

Insider Buying and Selling

In other Agnico Eagle Mines news, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the company's stock in a transaction dated 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, Senior Officer Carol-Ann Plummer-Theriault sold 25,000 shares of the firm's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of C$101.85, for a total value of C$2,546,250.00. Also, Senior Officer Dominique Girard sold 11,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$104.33, for a total transaction of C$1,147,630.00. Insiders have sold 115,000 shares of company stock worth $12,518,150 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Agnico Eagle Mines Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 1.34%. 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.