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Agnico Eagle Mines Limited (AEM) Fair Value & Analysis

Basic Materials · US · Market cap $68.5B · ISIN CA0084741085

What is Agnico Eagle Mines Limited really worth?

AE Agnico Eagle Mines Limited logo Agnico Eagle Mines Limited AEM · US
Price$207.13
Fair Value$151.68
Upside−26.8%
Quality69/100

A solid business, but trading 37% above our fair value of $151.68.

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Strengths

Highly profitable · 39.5% net margin
Low debt · generates free cash flow
Wide moat 76/100

Risks

!Expensive Growth (revenue 5y +30.6 %/yr)
!Mixed vs. peers (8/15)
!Weak on dividend: 16 out of 100

For context

·0.80% dividend yield
Evidence: High Range $113.76 – $289.24

Fair value as of: Aug 29, 2026

From 26 valuation models · updated 7 days ago

Share price +37.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range ($113.76 to $289.24) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

$251.57 $34.61 Fair Value $151.68 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range $34.61 – $251.57 · fair‑value band $113.76 – $289.24 · the $207.13 price screens above the $151.68 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

Agnico Eagle Mines Limited (AEM) currently trades at $207.13, while our model-based Fair Value estimate is $151.68, implying the stock looks roughly 36.6% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of $234.24 per share, and 9 of the 26 models we run sit above the $207.13 price. Bear case: the Dividend Discount group reads lowest at $23.44, and 17 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Agnico Eagle Mines Limited generated revenue of $13.5B at a net margin of 39.5%. Revenue grew 66.1% year over year. It earns a return on equity of 22.3%. The balance sheet holds a net cash position of $2.5B. Fundamentals as of Aug 29, 2026

Our scenario range runs from $113.76 (bear case) to $289.24 (bull case); at $207.13, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 19% below its 52-week high and 82% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −12% fair-value upside, at −27%, AEM screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $6.07 per share, which is 4.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF $138.49 $231.07 $493.06 75
EPV $83.15 $96.12 $107.47 74
Growth DCF $132.52 $256.32 $490.90 74
All 26 models by family
DCF Models
FCF DCF $138.49 $231.07 $493.06 75
Owner Earnings $116.29 $256.43 $549.31 70
5Y Revenue Exit $61.77 $92.52 $148.12 71
5Y EBITDA Exit $126.91 $234.24 $425.65 72
5Y P/E Exit $122.82 $242.65 $395.29 68
10Y Revenue Exit $83.23 $131.36 $181.41 67
10Y EBITDA Exit $130.02 $253.62 $475.49 65
10Y P/E Exit $127.15 $245.94 $446.36 61
Earnings-Based
Graham-Dodd $60.67 $419.62 $588.67 63
Lynch FV $123.66 $176.66 $229.66 61
PEG = 1.0 $123.66 $176.66 $229.66 57
EPV $83.15 $96.12 $107.47 74
Dividend Discount
Gordon GGM $13.37 $27.80 $44.10 66
DDM Multi-Stage $13.37 $23.44 $29.17 66
Multiples
P/E Multiple $113.76 $151.68 $189.60 63
P/S Multiple $26.79 $35.72 $44.65 58
P/B Multiple $111.33 $148.44 $185.56 55
EV/EBIT $138.22 $182.51 $226.80 66
EV/EBITDA $124.93 $164.79 $204.66 67
EV/Revenue $30.34 $41.06 $51.78 54
Asset-Based
NCAV (Graham) $24.74 $33.15 $49.48 54
Growth DCF
Growth DCF $132.52 $256.32 $490.90 74
Rev-Margin DCF $61.77 $98.15 $151.55 72
Economic Profit
Residual Income $59.58 $81.29 $341.74 64
ROIC Compounder $102.06 $149.19 $200.25 71
Growth Earnings
Growth-Adj P/E $155.75 $222.49 $289.24 67

Widest divergence: DCF Models ($234.24) versus Dividend Discount ($23.44). Highest evidence: FCF DCF (75).

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Key figures & financial health

P/E ratio 19.5
P/S ratio 7.31 P/E × margin
EPS (TTM) $10.62 price ÷ EPS = P/E 19.5
Dividend yield 0.8% payout 15.5%
Net margin 37.5% FY2025
Return on equity 22.3% TTM
More key figures
Profitability
Return on assets (EBIT) 10.3% avg 5y
Operating margin 62.8% TTM
Growth
Revenue (TTM) $13.5B TTM
Revenue growth (YoY) +66.1% 3y avg +27.5%
EPS growth (YoY) +109%
Balance sheet & cash flow
Free cash flow $4.3B FY2025
Net cash $2.5B FY2025

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 69 · Market factors (momentum, volatility) 58

Profitability 60
Margins and returns on capital today
Quality Growth 97
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 19
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 72
Distance to the 52-week high (market factor)
Net Issuance 55
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Agnico Eagle Mines Limited, a gold mining company, engages in the exploration, development, and production of precious metals. It explores for gold, silver, copper, and zinc.

Full company description

Agnico Eagle Mines Limited, a gold mining company, engages in the exploration, development, and production of precious metals. It explores for gold, silver, copper, and zinc. The company's mines are located in Canada, Australia, Finland, and Mexico; and with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States. Agnico Eagle Mines Limited was incorporated in 1953 and is headquartered in Toronto, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Agnico Eagle Mines Limited reported revenue of $11.9B in FY2025 versus $3.9B in FY2021, a compound +32.4%/yr. Reported net income was $4.5B in FY2025, compounding +67.9%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
$11.9B
Latest YoY
+43.7%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+27.5%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+30.6%
Avg. revenue growth/yr (40Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+34.1% (33.3 + 0.8)
Revenue +32.4%/yr
FY21 $3.9B
FY22 $5.7B
FY23 $6.6B
FY24 $8.3B
FY25 $11.9B
Net income +67.9%/yr
FY21 $562M
FY22 $670M
FY23 $1.9B
FY24 $1.9B
FY25 $4.5B
Character of growth · EPS growth decomposed (2014-2025) +33.3 % p.a.
Revenue per share +7.4 %

of which total revenue +18.1 % · buybacks/dilution −9.0 %

EBIT margin +15.5 %
Tax rate +3.9 %
Residual (interest, one-offs) +3.4 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

AEM screens 37% overvalued. Compare with Newmont Corporation →

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Cite: Fair Value Calculator (2026). "Agnico Eagle Mines Limited Fair Value". https://www.fairvalue-calculator.com/stock/AEM

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Gold · 245 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 69 · Top 25%
Fair Value upside −27% · Above median
Return on equity (TTM) 22% · Above median
Return on assets 16% · Top 25%
Net margin (TTM) 39% · Top 25%
Operating margin (TTM) 63% · Top 25%
Revenue growth 66% · Above median
Dividend yield (TTM) 0.8% · Below median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Gold median · lower = cheaper

P/E (TTM) 19.5× · Pricier than 75% of peers
P/B 2.77× · Pricier than median
P/S (TTM) 5.06× · Pricier than median
P/FCF 16.1× · Pricier than median
EV/EBITDA 6.9× · Pricier than median
PEG 28.15× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 100
PAST89 · sector 2
HEALTH100 · sector 98
DIVIDEND16 · sector 20

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Gold stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
Newmont Corporation NEMCL $128.00 $112.82 −12%
Zijin Mining Group 601899 ¥32.21 ¥39.42 +22%
Barrick Mining Corporation B $41.23 $50.66 +23%
Franco-Nevada Corporation FNV $271.31 $96.63 −64%
Wheaton Precious Metals Corp WPM C$201.40 C$56.05 −72%
AngloGold Ashanti plc AU $97.92 $88.63 −9%
Kinross Gold Corporation KGC $32.51 $34.62 +6%
Royal Gold, Inc RGLD $262.85 $93.56 −64%
Northern Star Resources Limited NST A$23.19 A$15.98 −31%
Lundin Gold Inc LUG kr 708.00 kr 504.76 −29%

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Frequently asked questions

Is Agnico Eagle Mines Limited (AEM) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of $151.68 versus a price of $207.13, about −27% upside (overvalued).
What is the fair value of AEM?
Our model-based fair value for Agnico Eagle Mines Limited is $151.68 (as of Aug 29, 2026), built from audited fundamentals. The current price: $207.13.
What is the quality score of AEM?
Agnico Eagle Mines Limited has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Agnico Eagle Mines Limited (AEM)?
Agnico Eagle Mines Limited reported trailing-twelve-month revenue of about $13.5B (latest available figure, as of Aug 29, 2026).
What is the net profit margin of AEM?
The net profit margin of Agnico Eagle Mines Limited is about 39.5%, meaning it keeps roughly 39.5% of revenue as net income. Based on the latest reported figures.
Does Agnico Eagle Mines Limited pay a dividend?
Agnico Eagle Mines Limited currently shows a dividend yield of about 0.80% relative to its recent price (as of Aug 29, 2026).
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