Agnico Eagle Mines Limited Buyback
OLI recorded this information on 5/2/2023
Company:
Agnico Eagle Mines Limited
Buyback:
AEM buyback
Share Amount Authorized:
24,718,919
Buyback Details:
Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that further to its news release dated April 27, 2023, it has received approval from the Toronto Stock Exchange (the "TSX") of Agnico Eagle's notice of intention to renew its normal course issuer bid (the "NCIB"). Under the NCIB, Agnico Eagle may purchase for cancellation, on the open market at its discretion, during the period commencing on May 4, 2023 and ending on the earlier of May 3, 2024 and the completion of purchases under the NCIB, up to the lesser of: (i) 24,718,919 common shares of Agnico Eagle ("Common Shares"), which is 5% of the issued and outstanding Common Shares; and (ii) that number of Common Shares that can be purchased by Agnico Eagle under the NCIB for an aggregate purchase price, excluding commissions, of not more than $500,000,000, subject to the normal terms and limitations of such bids. Based on the closing share price of $56.59 on April 27, 2023, 8,835,483 Common Shares would be purchasable under the NCIB, representing approximately 1.79% of the issued and outstanding Common Shares as of April 27, 2023. As of April 27, 2023, Agnico Eagle had 494,378,388 issued and outstanding Common Shares.
Agnico Eagle Mines is a gold mining company, producing precious metals from operations in Canada, Australia, Finland and Mexico. It has a pipeline of exploration and development projects in these countries as well as in the U.S. and Colombia. Co. operates through three business units: Northern Business, Southern Business and Exploration. Co.'s Northern Business is comprised of its operations in Canada and Finland. Co.'s Southern Business is comprised of its operations in Mexico. Co.'s Exploration group focuses primarily on the identification of new mineral reserves and mineral resources and new development opportunities in politically stable and proven gold producing regions.
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Avg. Broker Rec.
 
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Strong Buy (3.62 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: AEM Stock Forecast Based on Zacks ABR data; powered by Xignite |
