Brokers Offer Predictions for Agnico Eagle Mines Limited’s Q3 2023 Earnings (TSE:AEM)

Agnico Eagle Mines Limited (TSE:AEM – Get Rating) (NYSE:AEM) – Research analysts at Raymond James lowered their Q3 2023 earnings estimates for shares of Agnico Eagle Mines in a report released on Thursday, May 18th. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $0.50 for the quarter, down from their previous forecast of $0.54. Raymond James has a “Outperform” rating and a $66.00 price objective on the stock. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.60 per share. Raymond James also issued estimates for Agnico Eagle Mines’ Q4 2023 earnings at $0.40 EPS.

Agnico Eagle Mines (TSE:AEM – Get Rating) (NYSE:AEM) last released its earnings results on Thursday, February 16th. The company reported C$0.55 EPS for the quarter, beating the consensus estimate of C$0.53 by C$0.02. Agnico Eagle Mines had a net margin of 39.97% and a return on equity of 13.14%. The firm had revenue of C$1.88 billion for the quarter, compared to analyst estimates of C$1.91 billion.

AEM has been the topic of several other reports. Canaccord Genuity Group decreased their price target on shares of Agnico Eagle Mines from C$90.00 to C$84.00 in a report on Thursday, March 2nd. Barclays began coverage on shares of Agnico Eagle Mines in a report on Friday, February 17th. They set a “buy” rating and a C$62.00 price target on the stock. National Bank Financial lifted their price target on shares of Agnico Eagle Mines from C$95.00 to C$98.00 in a report on Wednesday, May 3rd. National Bankshares lifted their price target on shares of Agnico Eagle Mines from C$95.00 to C$98.00 and gave the company an “outperform” rating in a report on Wednesday, May 3rd. Finally, Stifel Nicolaus lifted their price target on shares of Agnico Eagle Mines from C$89.00 to C$91.00 in a report on Thursday, April 20th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$79.31.

Agnico Eagle Mines Price Performance

AEM stock opened at C$73.07 on Monday. The firm has a market cap of C$36.12 billion, a P/E ratio of 10.68, a P/E/G ratio of -1.52 and a beta of 0.81. The company has a quick ratio of 0.89, a current ratio of 2.32 and a debt-to-equity ratio of 12.70. The company’s 50-day moving average price is C$74.33 and its two-hundred day moving average price is C$70.54. Agnico Eagle Mines has a 12 month low of C$48.88 and a 12 month high of C$82.90.

Insider Transactions at Agnico Eagle Mines

In other news, Senior Officer Ammar Al-Joundi purchased 8,200 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were purchased at an average price of C$62.17 per share, for a total transaction of C$509,822.70. Corporate insiders own 0.11% of the company’s stock.

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a $0.541 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.53. Agnico Eagle Mines’s payout ratio is 31.29%.

About Agnico Eagle Mines

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Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits.