Scotiabank Raises Earnings Estimates for Agnico Eagle Mines

Key Points

• Scotiabank raised Agnico Eagle Mines’ FY2027 EPS estimate to $15.30 from $15.20, well above the current full-year consensus estimate of $5.50.
• Analyst sentiment remains positive overall, with the stock carrying a “Moderate Buy” consensus rating and an average price target of C$295.33, despite mixed target-price changes from major firms.
• Agnico Eagle reported quarterly EPS of C$4.33 on C$5.40 billion in revenue and maintains a quarterly dividend of $0.45 per share, equivalent to a 0.8% annual yield.

Agnico Eagle Mines Limited (TSE:AEM - Free Report) NYSE: AEM - Investment analysts at Scotiabank upped their FY2027 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a report issued on Tuesday, August 4th. Scotiabank analyst T. Jakusconek now expects that the company will earn $15.30 per share for the year, up from their previous forecast of $15.20. The consensus estimate for Agnico Eagle Mines' current full-year earnings is $5.50 per share.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. dropped their target price on Agnico Eagle Mines from C$321.00 to C$300.00 in a research report on Thursday, April 23rd. Jefferies Financial Group raised shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. BMO Capital Markets increased their price objective on shares of Agnico Eagle Mines from C$350.00 to C$370.00 in a research note on Wednesday, April 22nd. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a "sector" rating to an "outperform" rating in a report on Monday, May 4th. Finally, Barclays cut their target price on shares of Agnico Eagle Mines from C$298.00 to C$266.00 in a research report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$295.33.

Agnico Eagle Mines Stock Up 1.4%

Agnico Eagle Mines stock opened at C$235.39 on Friday. The stock has a market cap of C$119.19 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 22.97 and a beta of 1.83. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.89 and a current ratio of 2.86. Agnico Eagle Mines has a one year low of C$180.26 and a one year high of C$348.94. The stock has a fifty day moving average of C$219.20 and a 200 day moving average of C$259.94.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last released its quarterly earnings results on Thursday, July 30th. The company reported C$4.33 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a return on equity of 22.69% and a net margin of 40.45%.The firm had revenue of C$5.40 billion for the quarter.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were given a dividend of $0.45 per share. The ex-dividend date was Monday, June 1st. This represents a $1.80 annualized dividend and a yield of 0.8%. Agnico Eagle Mines's payout ratio is 14.55%.

About Agnico Eagle Mines

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source