FY2023 Earnings Forecast for Agnico Eagle Mines Limited Issued By Zacks Research (TSE:AEM)

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Analysts at Zacks Research dropped their FY2023 EPS estimates for Agnico Eagle Mines in a report issued on Wednesday, November 8th. Zacks Research analyst A. Barman now forecasts that the company will post earnings per share of $2.88 for the year, down from their prior estimate of $2.93. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.20 per share. Zacks Research also issued estimates for Agnico Eagle Mines’ Q4 2023 earnings at $0.59 EPS, FY2024 earnings at $2.69 EPS, Q1 2025 earnings at $0.90 EPS, Q2 2025 earnings at $0.76 EPS, Q3 2025 earnings at $0.80 EPS and FY2025 earnings at $3.17 EPS.

Several other equities research analysts also recently weighed in on AEM. National Bankshares lowered their target price on shares of Agnico Eagle Mines from C$90.00 to C$86.00 and set an “outperform” rating for the company in a research note on Monday, October 23rd. National Bank Financial dropped their price target on Agnico Eagle Mines from C$98.00 to C$92.00 in a research note on Friday, July 21st. Finally, Canaccord Genuity Group decreased their price objective on shares of Agnico Eagle Mines from C$99.00 to C$91.00 and set a “buy” rating for the company in a research report on Monday, July 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and a consensus price target of C$81.76.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at C$64.90 on Friday. The company has a market cap of C$32.19 billion, a P/E ratio of 9.05, a PEG ratio of 6.41 and a beta of 0.89. The company has a debt-to-equity ratio of 10.57, a current ratio of 1.99 and a quick ratio of 0.89. The stock’s 50-day moving average is C$64.98 and its 200 day moving average is C$67.54. Agnico Eagle Mines has a 1-year low of C$59.36 and a 1-year high of C$82.90.

Agnico Eagle Mines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.543 dividend. This represents a $2.17 annualized dividend and a yield of 3.35%. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, November 30th. Agnico Eagle Mines’s dividend payout ratio is presently 29.85%.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. 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.