Brokers Set Expectations for Agnico Eagle Mines Limited’s Q2 2024 Earnings (TSE:AEM)

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Research analysts at Cormark raised their Q2 2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a note issued to investors on Monday, April 29th. Cormark analyst R. Gray now expects that the company will earn $1.30 per share for the quarter, up from their previous forecast of $0.74. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.44 per share. Cormark also issued estimates for Agnico Eagle Mines’ Q3 2024 earnings at $1.30 EPS, Q4 2024 earnings at $1.30 EPS, FY2024 earnings at $4.93 EPS and FY2025 earnings at $5.83 EPS.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its earnings results on Thursday, February 15th. The company reported C$0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.65 by C$0.13. The business had revenue of C$2.39 billion for the quarter, compared to analyst estimates of C$2.04 billion. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 10.89%.

Other equities analysts have also recently issued research reports about the company. TD Securities cut 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 raised their target price on Agnico Eagle Mines from C$92.00 to C$105.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. National Bankshares lowered 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 report on Friday, April 19th. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Finally, Stifel Nicolaus lifted their target price on shares of Agnico Eagle Mines from C$94.00 to C$104.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$97.50.

Agnico Eagle Mines Stock Up 1.4 %

Shares of AEM opened at C$88.41 on Thursday. The company has a debt-to-equity ratio of 10.32, a quick ratio of 0.89 and a current ratio of 2.09. The company has a 50-day simple moving average of C$78.28 and a 200-day simple moving average of C$71.73. Agnico Eagle Mines has a 52 week low of C$59.36 and a 52 week high of C$92.62. The firm has a market capitalization of C$44.05 billion, a P/E ratio of 16.34, a P/E/G ratio of 22.97 and a beta of 1.07.

Agnico Eagle Mines Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, June 14th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, May 31st. Agnico Eagle Mines’s payout ratio is 39.74%.

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.