Cormark Analysts Lift Earnings Estimates for Agnico Eagle Mines Limited (TSE:AEM)

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Investment analysts at Cormark boosted their Q1 2024 earnings estimates for shares of Agnico Eagle Mines in a report issued on Monday, April 22nd. Cormark analyst R. Gray now forecasts that the company will earn $0.80 per share for the quarter, up from their prior estimate of $0.74. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $3.44 per share.

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

A number of other analysts have also recently commented on AEM. Veritas Investment Research upped their price target on Agnico Eagle Mines from C$88.40 to C$118.00 in a research note on Friday, April 12th. Canaccord Genuity Group upped their price target on Agnico Eagle Mines from C$92.00 to C$105.00 in a research note on Tuesday. Stifel Nicolaus increased their target price on Agnico Eagle Mines from C$94.00 to C$104.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Finally, Eight Capital increased 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 note on Monday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$97.50.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at C$85.96 on Tuesday. The company has a debt-to-equity ratio of 10.32, a current ratio of 2.09 and a quick ratio of 0.89. The stock has a market cap of C$42.83 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 22.97 and a beta of 1.07. The stock has a 50-day moving average of C$75.80 and a 200-day moving average of C$70.86. Agnico Eagle Mines has a one year low of C$59.36 and a one year high of C$88.27.

Agnico Eagle Mines Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.537 per share. This represents a $2.15 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 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.