Agnico Eagle Mines Limited (AEM) fair value: what the stock is really worth
As of Oct 22, 2026: fair value (intrinsic value) of Agnico Eagle Mines Limited stock $220, price $176, upside +24.7%, quality 73 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 22, 2026.
How to read this chart
60‑month range $34.53 – $251.01 · fair‑value band $128.37 – $285.63 · the $176.15 price screens below the $219.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 22, 2026.
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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.
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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.
Stock analysis
Agnico Eagle Mines Limited (AEM) currently trades at $176.15, while our model-based Fair Value estimate is $219.71, implying the stock looks roughly 19.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $245.87 per share, and 10 of the 26 models we run sit above the $176.15 price.
Bear case: the Dividend Discount group reads lowest at $25.08, and 16 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $128.37 (bear) to $285.63 (bull), the price of $176.15 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 73/100 (solid quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
Key figures
Market cap $88.6B Large · P/E ratio 15.1 · P/S ratio 6.10 · EPS (TTM) $11.69 · Dividend yield 1.0% · Net margin 40.4% · Return on equity 23.0% · Return on assets (EBIT) 10.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 75 out of 100 (medium confidence).
What moves the price
The share trades about 30% below its 52-week high and 29% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at 25%, AEM screens cheaper than that median.
Fair Value models
Bear$128.37Fair Value $219.71Bull$285.63
Price $176.15 · Upside +24.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($8.10 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+43.7%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+27.5%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+30.6%
Start year 2020 (pandemic). Over 10 years: +19.6% a year
Revenue growth 40 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+15.8%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+32.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+31.4%
Dividend (yield on the price)1.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.33.3% vs 35.6%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.26% → 53%
2025 sits 135% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +3.7% a year for the price and +4.5% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (95 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Selective project development supports per-share production growth along with cost-driven margins and a clean balance sheet, yet the commoditized gold sector offers only a limited moat.
Main risk: The limited moat in the commoditized gold sector leaves margins exposed to swings in realized gold prices despite cost discipline.
Agnico Eagle measures its progress by gold production per share, a metric that has tripled over the past twenty years through selective project development and internal engineering strength. Several large initiatives are now advancing toward first output around 2030, while the company continues returning cash to owners. Will the focus on per-share growth create more durable value than simply expanding total production?
Compare Agnico Eagle Mines Limited with another stock
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Peer Groupⓘ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.Gold · 208 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside+24.7% · Top 25%
Profitability
Return on equity (12 months)23.0% · Above median
Return on assets12.9% · Above median
Net margin (12 months)40.4% · Top 25%
Operating margin (12 months)58.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)35.0% · Above median
Dividend yield (12 months)1.0% · Below median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Gold median · lower = cheaper
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Is Agnico Eagle Mines Limited (AEM) overvalued or undervalued?
As of Oct 22, 2026, our model estimates a fair value of $219.71 versus a price of $176.15, about +25% upside (undervalued).
What is the fair value of AEM?
Our model-based fair value for Agnico Eagle Mines Limited is $219.71 (as of Oct 22, 2026), built from audited fundamentals. The current price: $176.15.
What is the quality score of AEM?
Agnico Eagle Mines Limited has a Quality Score of 73/100. 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 price target for Agnico Eagle Mines Limited (AEM)?
Our model-based price target is the fair value of $219.71 (as of Oct 22, 2026) from 26 valuation models. Cautious scenario $128.37, optimistic scenario $285.63. It is a calculation from audited fundamentals, not an analyst target.
What is the Agnico Eagle Mines Limited stock forecast for 2026?
Our models put fair value at $219.71, about +25% upside versus a price of $176.15 (undervalued). Cautious scenario $128.37, optimistic scenario $285.63. The calculation is refreshed regularly with new filings.
What is the revenue of Agnico Eagle Mines Limited (AEM)?
Agnico Eagle Mines Limited reported trailing-twelve-month revenue of about $14.5B (latest available figure, as of Oct 22, 2026).
Does Agnico Eagle Mines Limited pay a dividend?
Agnico Eagle Mines Limited currently shows a dividend yield of 0.97% relative to its recent price (as of Oct 22, 2026).
What growth is priced into Agnico Eagle Mines Limited (AEM)?
For today's price to be fair in a discounted-cash-flow model, Agnico Eagle Mines Limited would have to grow free cash flow by +6.2 % per year for five years (discount rate 8.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +30.6 % per year. As of Oct 22, 2026.
What discount rate (WACC) does the fair value of AEM use?
Our models discount Agnico Eagle Mines Limited at 8.4 %: a base by market capitalisation (large), damped by beta 0.64, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Agnico Eagle Mines Limited that is +6.2 % per year a year over ten years, using the same discount rate (8.4 %) and the same formula as our fair value.
How much growth has Agnico Eagle Mines Limited (AEM) delivered so far?
Over the past 5 years revenue at Agnico Eagle Mines Limited grew +30.6 % a year. The price currently implies +6.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Agnico Eagle Mines Limited (AEM) growing?
The median revenue growth in the sector is +9.5 % a year. That is the yardstick for the growth priced into Agnico Eagle Mines Limited (+6.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Agnico Eagle Mines Limited (AEM)?
The free-cash-flow yield on the price is 4.81 %: that much free cash flow Agnico Eagle Mines Limited produces per unit of market value. When it exceeds the discount rate of our models (8.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Agnico Eagle Mines Limited (AEM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Agnico Eagle Mines Limited it is $219.71 per share (as of Oct 22, 2026), against a price of $176.15. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Agnico Eagle Mines Limited stock overvalued or undervalued in 2026?
As of Oct 22, 2026, AEM trades below its calculated fair value: price $176.15, fair value $219.71, a gap of about +25% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AEM?
No. The price is what the market pays today ($176.15); the fair value is what the company's own numbers justify ($219.71). For Agnico Eagle Mines Limited the two are $43.56 per share apart. That gap is exactly why we show both numbers side by side.
How much is Agnico Eagle Mines Limited worth?
The market values Agnico Eagle Mines Limited at about $88.6B (market capitalisation, as of Oct 22, 2026). Per share that is $176.15; our models calculate a fair value of $219.71 per share.
What do the bullish and bearish scenarios say about AEM?
Our models span a range for Agnico Eagle Mines Limited: cautious scenario $128.37, base $219.71, optimistic $285.63 per share (as of Oct 22, 2026, price $176.15). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AEM?
Agnico Eagle Mines Limited trades at a price-to-earnings ratio of 15.1 (as of Oct 22, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $219.71 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 21.2 (reported for FY2025: 19.9). Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings, 5 of the years ex one-offs: 31.0. Other multiples: PEG 28.2, P/B 3.6, P/S 6.1, EV/EBITDA 8.5.
What is the PEG ratio of AEM?
The PEG ratio of Agnico Eagle Mines Limited is 28.15 (P/E divided by earnings growth, as of Oct 22, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Agnico Eagle Mines Limited (AEM)?
Balance-sheet figures for Agnico Eagle Mines Limited (as of Oct 22, 2026): return on equity 23.0%, debt of 0.01 per unit of equity. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is AEM from its 52-week high?
Agnico Eagle Mines Limited trades at $176.15, about 30% below its 52-week high of $251.01 and 29% above the low of $136.04 (as of Oct 22, 2026). Distance from the high says nothing about value: that is what the fair value of $219.71 is for.
Which stocks are comparable to Agnico Eagle Mines Limited?
From the same area (Basic Materials) we also value Newmont Corporation, Zijin Mining Group, Wheaton Precious Metals Corp, AngloGold Ashanti plc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Agnico Eagle Mines Limited stock attractive at the current price?
The data as of Oct 22, 2026: price $176.15, calculated fair value $219.71 (+25%), Quality Score 73/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AEM calculated?
We run Agnico Eagle Mines Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $219.71, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.2 % above its aggregate fair value. Agnico Eagle Mines Limited currently trades 20 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Agnico Eagle Mines Limited (AEM)?
The closing price on Oct 22, 2026 was $176.15. Our model-based fair value is $219.71, about +25% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Agnico Eagle Mines Limited right now?
A fairly wide model range ($128.37 to $285.63) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Agnico Eagle Mines Limited (AEM) come from?
Earnings per share at Agnico Eagle Mines Limited grew +33.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.4 %, EBIT margin +15.5 %, tax rate +3.9 %, residual (interest, one-offs) +3.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Agnico Eagle Mines Limited
How large is the market capitalisation of Agnico Eagle Mines Limited (AEM)?
The market capitalisation of Agnico Eagle Mines Limited is $88.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Agnico Eagle Mines Limited (AEM)?
The price-to-sales ratio of Agnico Eagle Mines Limited is 6.10 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Agnico Eagle Mines Limited (AEM)?
Earnings per share at Agnico Eagle Mines Limited are $11.69 (price ÷ EPS = P/E 15.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Agnico Eagle Mines Limited (AEM)?
The dividend yield of Agnico Eagle Mines Limited is 1.0% (payout 15.5%, on adjusted earnings, reported 14.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Agnico Eagle Mines Limited (AEM)?
The net margin of Agnico Eagle Mines Limited is 40.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Agnico Eagle Mines Limited (AEM)?
The return on equity (ROE) of Agnico Eagle Mines Limited is 23.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Agnico Eagle Mines Limited (AEM)?
On an EBIT basis the return on assets of Agnico Eagle Mines Limited is 10.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Agnico Eagle Mines Limited (AEM)?
The operating margin of Agnico Eagle Mines Limited is 58.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Agnico Eagle Mines Limited (AEM)?
Revenue at Agnico Eagle Mines Limited is growing +35.0% versus a year earlier (3y avg +27.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Agnico Eagle Mines Limited (AEM)?
Earnings per share at Agnico Eagle Mines Limited are growing +49.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Agnico Eagle Mines Limited (AEM) hold?
Agnico Eagle Mines Limited holds more cash than debt, $2.5B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Oct 22, 2026