What is Scotiabank’s Forecast for TSE:AEM FY2024 Earnings?

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Analysts at Scotiabank increased their FY2024 earnings estimates for shares of Agnico Eagle Mines in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now forecasts that the company will post earnings of $5.64 per share for the year, up from their prior estimate of $4.75. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $5.50 per share. Scotiabank also issued estimates for Agnico Eagle Mines’ FY2025 earnings at $6.49 EPS.

Several other analysts also recently weighed in on the company. National Bankshares lifted their target price on Agnico Eagle Mines from C$143.00 to C$144.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Stifel Nicolaus lifted their price objective on shares of Agnico Eagle Mines from C$114.00 to C$140.00 in a report on Monday, October 21st. Finally, UBS Group raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Tuesday, September 17th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Buy” and an average price target of C$116.00.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at C$121.75 on Friday. The stock has a 50 day moving average price of C$115.84 and a 200 day moving average price of C$108.86. Agnico Eagle Mines has a 52-week low of C$60.17 and a 52-week high of C$123.86. The company has a debt-to-equity ratio of 9.94, a quick ratio of 0.89 and a current ratio of 1.51. The firm has a market capitalization of C$61.00 billion, a P/E ratio of 76.09, a P/E/G ratio of 22.97 and a beta of 1.10.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its earnings results on Wednesday, October 30th. The company reported C$1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.35 by C$0.21. The business had revenue of C$2.94 billion during the quarter, compared to analyst estimates of C$2.50 billion. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%.

Agnico Eagle Mines Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.31%. Agnico Eagle Mines’s dividend payout ratio is presently 135.63%.

Insider Activity at Agnico Eagle Mines

In other Agnico Eagle Mines news, Director Sean Boyd sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of C$116.15, for a total value of C$1,161,500.00. Also, Senior Officer Christopher Charles Norman Vollmershausen sold 15,072 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of C$110.27, for a total transaction of C$1,661,989.44. Insiders have sold a total of 80,116 shares of company stock valued at $9,061,719 over the last ninety days. 0.08% of the stock is owned by company insiders.

Agnico Eagle Mines Company Profile

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.