Cormark Boosts Agnico Eagle Mines (TSE:AEM) Price Target to C$115.00

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) had its price objective increased by Cormark from C$110.00 to C$115.00 in a report published on Monday morning, BayStreet.CA reports. Cormark also issued estimates for Agnico Eagle Mines’ Q2 2024 earnings at $1.20 EPS, Q3 2024 earnings at $1.20 EPS, Q4 2024 earnings at $1.19 EPS and FY2024 earnings at $4.63 EPS.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group boosted their price objective on shares of Agnico Eagle Mines from C$92.00 to C$105.00 in a research report on Tuesday, April 23rd. Eight Capital increased their target price on shares of Agnico Eagle Mines from C$92.00 to C$105.00 and gave the company a buy rating in a research report on Monday, April 22nd. Stifel Nicolaus increased their target price on shares of Agnico Eagle Mines from C$94.00 to C$104.00 and gave the company a buy rating in a research report on Friday, April 19th. Veritas Investment Research increased their target price on shares of Agnico Eagle Mines from C$88.40 to C$118.00 in a research report on Friday, April 12th. Finally, National Bankshares decreased their target price on shares of Agnico Eagle Mines from C$105.00 to C$104.00 and set an outperform rating for the company in a research report on Friday, April 19th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of Buy and an average target price of C$100.63.

Agnico Eagle Mines Stock Up 1.6 %

AEM opened at C$90.94 on Monday. The company has a debt-to-equity ratio of 10.14, a quick ratio of 0.89 and a current ratio of 2.21. Agnico Eagle Mines has a fifty-two week low of C$59.36 and a fifty-two week high of C$96.20. The firm’s fifty day moving average is C$90.73 and its 200 day moving average is C$78.50. The stock has a market cap of C$45.31 billion, a price-to-earnings ratio of 84.20, a price-to-earnings-growth ratio of 22.97 and a beta of 1.04.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last announced its quarterly earnings results on Thursday, April 25th. The company reported C$1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.20. The company had revenue of C$2.47 billion for the quarter, compared to the consensus estimate of C$2.20 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 2.39%. On average, sell-side analysts forecast that Agnico Eagle Mines will post 4.3937412 earnings per share for the current fiscal year.

Agnico Eagle Mines Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, June 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Friday, May 31st. Agnico Eagle Mines’s payout ratio is currently 199.07%.

Insider Buying and Selling at Agnico Eagle Mines

In other news, Senior Officer Ammar Al-Joundi purchased 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was bought at an average price of C$92.12 per share, for a total transaction of C$2,763,600.00. In related news, Senior Officer Ammar Al-Joundi acquired 30,000 shares of Agnico Eagle Mines stock in a transaction dated Friday, May 31st. The stock was acquired at an average price of C$92.12 per share, for a total transaction of C$2,763,600.00. Also, Director Sean Boyd sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of C$90.08, for a total transaction of C$10,809,600.00. Insiders sold a total of 163,279 shares of company stock worth $14,798,903 over the last three months. Insiders own 0.09% of the company’s stock.

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.