NYSE:AEMMetals and Mining
Agnico Eagle Mines Buyback Signals Confidence And Raises Valuation Questions
Agnico Eagle Mines (NYSE:AEM) has launched a new share repurchase program of up to $2b.
The normal course issuer bid allows buybacks of up to 5% of shares outstanding through May 2027.
The program follows record Q1 net income and strong operating performance, after Board and regulatory approvals.
The new $2b buyback comes as Agnico Eagle Mines trades around $187.77 a share, after a 10.4% decline over the past month but a 65.5% gain over the past year. Over the past 3 years the stock has...