Q2 2024 Earnings Forecast for Agnico Eagle Mines Limited (TSE:AEM) Issued By Raymond James

Agnico Eagle Mines Limited (TSE:AEM - Free Report) NYSE: AEM - Stock analysts at Raymond James boosted their Q2 2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a research report issued on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the company will post earnings of $1.16 per share for the quarter, up from their previous forecast of $0.72. The consensus estimate for Agnico Eagle Mines' current full-year earnings is $3.44 per share. Raymond James also issued estimates for Agnico Eagle Mines' Q3 2024 earnings at $1.20 EPS, Q4 2024 earnings at $1.23 EPS and FY2024 earnings at $4.44 EPS.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.78 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of C$2.04 billion.

AEM has been the subject of several other reports. TD Securities cut their price objective on Agnico Eagle Mines to C$62.00 and set a "buy" rating for the company in a research note on Wednesday, February 21st. Stifel Nicolaus boosted their price objective 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 reiterated an "outperform overweight" rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Canaccord Genuity Group boosted their price objective on Agnico Eagle Mines from C$92.00 to C$105.00 in a research note on Tuesday. Finally, National Bankshares cut their price objective on Agnico Eagle Mines from C$105.00 to C$104.00 and set an "outperform" rating for the company in a research note on Friday, April 19th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of C$97.50.

Agnico Eagle Mines Price Performance

TSE:AEM traded up C$1.46 during trading hours on Thursday, hitting C$88.72. 1,147,857 shares of the stock were exchanged, compared to its average volume of 1,439,463. Agnico Eagle Mines has a 52-week low of C$59.36 and a 52-week high of C$89.43. The firm's fifty day moving average price is C$76.32 and its 200 day moving average price is C$70.98. The company has a current ratio of 2.09, a quick ratio of 0.89 and a debt-to-equity ratio of 10.32. The company has a market cap of C$44.21 billion, a P/E ratio of 16.40, a P/E/G ratio of 22.97 and a beta of 1.07.

Agnico Eagle Mines Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.537 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.15 dividend on an annualized basis and a dividend yield of 2.42%. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 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.