Q1 2024 Earnings Forecast for Agnico Eagle Mines Limited Issued By Cormark (TSE:AEM)

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Stock analysts at Cormark upped their Q1 2024 earnings per share (EPS) estimates for Agnico Eagle Mines in a note issued to investors on Monday, April 22nd. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $0.80 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.

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

Several other brokerages have also weighed in on AEM. 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 report on Monday. Canaccord Genuity Group increased their target price on Agnico Eagle Mines from C$92.00 to C$105.00 in a research report on Tuesday. Stifel Nicolaus raised their price target on Agnico Eagle Mines from C$94.00 to C$104.00 and gave the company a “buy” rating in a report on Friday, April 19th. Veritas Investment Research raised their price target on Agnico Eagle Mines from C$88.40 to C$118.00 in a report on Friday, April 12th. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$97.50.

Agnico Eagle Mines Price Performance

Shares of TSE AEM opened at C$87.26 on Tuesday. Agnico Eagle Mines has a 1-year low of C$59.36 and a 1-year high of C$88.27. 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 business’s fifty day moving average price is C$75.80 and its two-hundred day moving average price is C$70.86. The firm has a market capitalization of C$43.48 billion, a PE ratio of 16.13, 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 was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.537 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.15 annualized dividend and a yield of 2.46%. Agnico Eagle Mines’s dividend payout ratio 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.