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Agnico Eagle Mines Ltd AEM

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Agnico Eagle Likely to Increase Gold Production as It Invests in Various Projects

Jon Mills

Agnico Eagle is one of the world’s largest gold miners by production, operating mines in Canada, Mexico, Finland, and Australia, reflecting the company’s focus on lower-risk jurisdictions. Its four cornerstone assets each produce roughly 350,000-700,000 ounces of gold annually, consisting of Detour Lake, Canadian Malartic, Meadowbank, and Meliadine. All four are in Canada. These mines accounted for around 60% of the company’s sales of 3.4 million ounces of gold in 2025, with the company also producing minor amounts of copper, zinc, and silver. Agnico Eagle had about 15 years of gold reserves at the end of 2025.

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Price vs Fair Value

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AEM is trading at a 566% premium.
Price
$157.76
Fair Value
$38.00
Uncertainty
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1-Star Price
$773.21
5-Star Price
$44.80
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Agnico Eagle has around 15 years of reserves at the end of December 2025, with various opportunities to increase gold production in the coming years.

Bears

While it is located around the 25th percentile of the gold cost curve, it is still meaningfully leveraged to changes in the gold price.

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Trading Information

Previous Close Price
—
Day Range
—–—
52-Week Range
—–—
Bid/Ask
— / —
Shares Outstanding
500.04M
Market Cap
—
Volume/Avg
— / —

Key Statistics

Price/Earnings (Normalized)
15.68
Price/Sales
5.94
Dividend Yield (Trailing)
1.06%
Dividend Yield (Forward)
1.06%
Total Yield
2.02%

Company Profile

Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It sold around 3.4 million gold ounces in 2025 and had about 15 years of gold reserves at end 2025. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.
Sector
Basic Materials
Industry
Gold
Stock Style Box
Large Core
Total Number of Employees
18,216
Website
https://www.agnicoeagle.com

Competitors

Valuation

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Metric
AEM
B
NEM
Price/Earnings (Normalized)
 15.6812.7510.83
Price/Book Value
 3.062.402.85
Price/Sales
 5.943.484.08
Price/Cash Flow
 11.437.178.24
Price/Earnings
AEM
B
NEM

Financial Strength

Metric
AEM
B
NEM
Quick Ratio
 2.032.271.89
Current Ratio
 3.153.062.44
Interest Coverage
 299.1324.7870.83
Quick Ratio
AEM
B
NEM

Profitability

Metric
AEM
B
NEM
Return on Assets (Normalized)
 15.54%14.70%16.75%
Return on Equity (Normalized)
 21.71%28.39%28.38%
Return on Invested Capital (Normalized)
 20.84%19.24%23.52%
Return on Assets
AEM
B
NEM

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