Raymond James Comments on Agnico Eagle Mines Limited’s Q2 2024 Earnings (TSE:AEM)

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Equities researchers at Raymond James reduced their Q2 2024 EPS estimates for Agnico Eagle Mines in a research report issued on Wednesday, May 22nd. Raymond James analyst F. Hamed now forecasts that the company will earn $1.12 per share for the quarter, down from their previous forecast of $1.16. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $4.38 per share. Raymond James also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $1.17 EPS, Q4 2024 earnings at $1.18 EPS, FY2024 earnings at $4.42 EPS, Q1 2025 earnings at $0.91 EPS, Q2 2025 earnings at $0.91 EPS, Q4 2025 earnings at $0.91 EPS and FY2025 earnings at $3.64 EPS.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings results on Thursday, April 25th. The company reported C$1.02 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.20. Agnico Eagle Mines had a return on equity of 2.39% and a net margin of 6.79%. The business had revenue of C$2.47 billion for the quarter, compared to the consensus estimate of C$2.20 billion.

Other equities research analysts have also issued reports about the company. TD Securities reduced their price target on Agnico Eagle Mines to C$62.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Eight Capital lifted their target price on shares of Agnico Eagle Mines from C$92.00 to C$105.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. National Bankshares dropped their price target on shares of Agnico Eagle Mines from C$105.00 to C$104.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. Stifel Nicolaus lifted their price objective on shares of Agnico Eagle Mines from C$94.00 to C$104.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Veritas Investment Research increased their target price on shares of Agnico Eagle Mines from C$88.40 to C$118.00 in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Buy” and a consensus target price of C$97.50.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at C$92.53 on Monday. Agnico Eagle Mines has a 52 week low of C$59.36 and a 52 week high of C$96.20. The company has a debt-to-equity ratio of 10.14, a quick ratio of 0.89 and a current ratio of 2.21. The company has a market capitalization of C$46.10 billion, a PE ratio of 85.68, a PEG ratio of 22.97 and a beta of 1.04. The company’s 50 day moving average price is C$86.26 and its 200 day moving average price is C$74.99.

Insider Activity at Agnico Eagle Mines

In related news, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of C$95.01, for a total value of C$475,050.00. In other news, Director Sean Boyd sold 120,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of C$90.08, for a total transaction of C$10,809,600.00. Also, Senior Officer Christopher Charles Norman Vollmershausen sold 5,000 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of C$95.01, for a total transaction of C$475,050.00. Insiders sold a total of 159,000 shares of company stock worth $14,401,410 in the last ninety days. 0.09% of the stock is currently owned by insiders.

Agnico Eagle Mines Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, June 14th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Friday, May 31st. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 199.07%.

Agnico Eagle Mines Company Profile

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.