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Agnico Eagle Mines

TSX:AEM
Snowflake Description

Reasonable growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AEM
TSX
$10B
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The last earnings update was 34 days ago. More info.


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AEM Share Price and Events
7 Day Returns
-0.6%
TSX:AEM
-2.1%
CA Metals and Mining
0.3%
CA Market
1 Year Returns
12.6%
TSX:AEM
-5.9%
CA Metals and Mining
0.7%
CA Market
AEM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Agnico Eagle Mines (AEM) -0.6% 3.1% 8% 12.6% 25.8% 76.8%
CA Metals and Mining -2.1% 1.4% 13.1% -5.9% 8.9% -22%
CA Market 0.3% 2% 13.2% 0.7% 16.6% 5.6%
1 Year Return vs Industry and Market
  • AEM outperformed the Metals and Mining industry which returned -5.9% over the past year.
  • AEM outperformed the Market in Canada which returned 0.7% over the past year.
Price Volatility
AEM
Industry
5yr Volatility vs Market

Value

 Is Agnico Eagle Mines undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Agnico Eagle Mines to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Agnico Eagle Mines.

TSX:AEM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.2%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:AEM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.18
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.181 (1 + (1- 26.5%) (16.68%))
1.218
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.218 * 5.96%)
9.21%

Discounted Cash Flow Calculation for TSX:AEM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Agnico Eagle Mines is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:AEM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.21%)
2019 192.18 Analyst x4 175.97
2020 606.67 Analyst x3 508.69
2021 643.10 Analyst x4 493.78
2022 673.12 Est @ 4.67% 473.27
2023 699.05 Est @ 3.85% 450.06
2024 721.98 Est @ 3.28% 425.64
2025 742.77 Est @ 2.88% 400.98
2026 762.09 Est @ 2.6% 376.73
2027 780.41 Est @ 2.4% 353.26
2028 798.11 Est @ 2.27% 330.82
Present value of next 10 years cash flows $3,989.21
TSX:AEM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $798.11 × (1 + 1.95%) ÷ (9.21% – 1.95%)
$11,208.53
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $11,208.53 ÷ (1 + 9.21%)10
$4,645.99
TSX:AEM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,989.21 + $4,645.99
$8,635.20
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $8,635.20 / 232.71
$37.11
TSX:AEM Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in TSX:AEM represents 1.32725x of NYSE:AEM
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.32725x
Value per Share
(Listing Adjusted, CAD)
= Value per Share (USD) x Listing Adjustment Factor
= $ 37.11 x 1.32725
CA$49.25
Value per share (CAD) From above. CA$49.25
Current discount Discount to share price of CA$58.93
= -1 x (CA$58.93 - CA$49.25) / CA$49.25
-19.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Agnico Eagle Mines is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Agnico Eagle Mines's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Agnico Eagle Mines's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:AEM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-1.40
NYSE:AEM Share Price ** NYSE (2019-03-20) in USD $44.4
Canada Metals and Mining Industry PE Ratio Median Figure of 115 Publicly-Listed Metals and Mining Companies 12.49x
Canada Market PE Ratio Median Figure of 542 Publicly-Listed Companies 14.78x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Agnico Eagle Mines.

TSX:AEM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AEM Share Price ÷ EPS (both in USD)

= 44.4 ÷ -1.40

-31.7x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Agnico Eagle Mines is loss making, we can't compare its value to the CA Metals and Mining industry average.
  • Agnico Eagle Mines is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Agnico Eagle Mines's expected growth come at a high price?
Raw Data
TSX:AEM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -31.7x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
83.2%per year
Canada Metals and Mining Industry PEG Ratio Median Figure of 35 Publicly-Listed Metals and Mining Companies 0.7x
Canada Market PEG Ratio Median Figure of 253 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Agnico Eagle Mines, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Agnico Eagle Mines's assets?
Raw Data
TSX:AEM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $19.41
NYSE:AEM Share Price * NYSE (2019-03-20) in USD $44.4
Canada Metals and Mining Industry PB Ratio Median Figure of 1,080 Publicly-Listed Metals and Mining Companies 1.44x
Canada Market PB Ratio Median Figure of 2,349 Publicly-Listed Companies 1.58x
TSX:AEM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AEM Share Price ÷ Book Value per Share (both in USD)

= 44.4 ÷ 19.41

2.29x

* Primary Listing of Agnico Eagle Mines.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Agnico Eagle Mines is overvalued based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Agnico Eagle Mines's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Agnico Eagle Mines has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Agnico Eagle Mines expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
83.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Agnico Eagle Mines expected to grow at an attractive rate?
  • Agnico Eagle Mines's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Agnico Eagle Mines's earnings growth is expected to exceed the Canada market average.
  • Agnico Eagle Mines's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:AEM Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:AEM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 83.2%
TSX:AEM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 9.4%
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 33.3%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 7%
Canada Market Earnings Growth Rate Market Cap Weighted Average 17.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:AEM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:AEM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 935
2021-12-31 2,772 1,008 183 4
2020-12-31 2,770 965 174 8
2019-12-31 2,325 785 84 9
TSX:AEM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 2,191 606 -327
2018-09-30 2,219 632 108
2018-06-30 2,280 689 163
2018-03-31 2,274 753 213
2017-12-31 2,243 768 244
2017-09-30 2,177 721 266
2017-06-30 2,207 810 243
2017-03-31 2,195 856 207
2016-12-31 2,138 779 159
2016-09-30 2,122 799 81
2016-06-30 2,020 660 33
2016-03-31 1,992 618 24

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Agnico Eagle Mines's earnings are expected to grow significantly at over 20% yearly.
  • Agnico Eagle Mines's revenue is expected to grow by 9.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:AEM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Agnico Eagle Mines Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:AEM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 0.78 0.97 0.65 3.00
2020-12-31 0.81 1.09 0.56 5.00
2019-12-31 0.36 0.42 0.30 4.00
TSX:AEM Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -1.40
2018-09-30 0.46
2018-06-30 0.70
2018-03-31 0.92
2017-12-31 1.06
2017-09-30 1.16
2017-06-30 1.07
2017-03-31 0.92
2016-12-31 0.71
2016-09-30 0.37
2016-06-30 0.15
2016-03-31 0.11

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Agnico Eagle Mines is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Agnico Eagle Mines's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Agnico Eagle Mines has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Agnico Eagle Mines performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Agnico Eagle Mines's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Agnico Eagle Mines does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Agnico Eagle Mines's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Agnico Eagle Mines's 1-year growth to the CA Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Agnico Eagle Mines's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Agnico Eagle Mines Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:AEM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,191.22 -326.70 262.54
2018-09-30 2,218.65 107.55 263.89
2018-06-30 2,279.98 162.96 271.64
2018-03-31 2,273.58 212.87 264.13
2017-12-31 2,242.60 243.89 256.51
2017-09-30 2,176.56 265.95 264.23
2017-06-30 2,207.42 242.87 252.26
2017-03-31 2,195.16 206.99 252.62
2016-12-31 2,138.23 158.82 249.76
2016-09-30 2,121.95 80.63 230.27
2016-06-30 2,019.89 32.54 226.91
2016-03-31 1,992.37 23.63 218.66
2015-12-31 1,985.43 24.58 207.33
2015-09-30 2,005.59 18.84 199.25
2015-06-30 1,960.18 2.49 182.00
2015-03-31 1,888.60 14.57 164.26
2014-12-31 1,896.77 82.97 158.07
2014-09-30 1,830.92 -676.02 151.67
2014-06-30 1,811.85 -586.05 145.71
2014-03-31 1,709.75 -613.42 147.14
2013-12-31 1,638.41 -686.71 157.35
2013-09-30 1,650.55 176.34 167.12
2013-06-30 1,742.07 207.75 189.02
2013-03-31 1,865.20 256.23 217.44
2012-12-31 1,917.71 310.92 228.59
2012-09-30 1,923.83 -373.22 244.86
2012-06-30 1,908.54 -561.16 213.44
2012-03-31 1,882.67 -535.61 188.55

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Agnico Eagle Mines has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Agnico Eagle Mines has efficiently used its assets last year compared to the CA Metals and Mining industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Agnico Eagle Mines improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Agnico Eagle Mines's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Agnico Eagle Mines has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Agnico Eagle Mines's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Agnico Eagle Mines's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Agnico Eagle Mines is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Agnico Eagle Mines's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Agnico Eagle Mines's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Agnico Eagle Mines Company Filings, last reported 2 months ago.

TSX:AEM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,550.01 1,723.22 384.44
2018-09-30 4,948.86 1,724.29 609.60
2018-06-30 4,932.16 1,722.97 794.43
2018-03-31 4,940.05 1,375.18 565.65
2017-12-31 4,946.99 1,377.18 766.67
2017-09-30 4,919.55 1,375.89 988.83
2017-06-30 4,850.43 1,376.80 1,080.46
2017-03-31 4,778.50 1,208.46 930.33
2016-12-31 4,492.47 1,214.54 640.71
2016-09-30 4,458.46 1,209.75 730.78
2016-06-30 4,379.25 1,212.73 559.23
2016-03-31 4,255.11 1,088.74 234.31
2015-12-31 4,141.02 1,151.77 163.46
2015-09-30 4,155.26 1,231.73 240.07
2015-06-30 4,159.77 1,211.58 210.03
2015-03-31 4,099.74 1,297.58 189.62
2014-12-31 4,068.49 1,417.92 238.63
2014-09-30 3,969.77 1,400.79 230.37
2014-06-30 4,290.11 1,329.71 316.53
2014-03-31 3,105.61 930.00 289.81
2013-12-31 2,717.41 1,011.23 215.90
2013-09-30 3,459.44 960.89 197.38
2013-06-30 3,416.83 860.96 181.06
2013-03-31 3,463.38 811.35 294.78
2012-12-31 3,410.21 855.06 351.28
2012-09-30 3,390.05 812.23 376.08
2012-06-30 3,273.81 842.18 330.00
2012-03-31 3,251.85 841.41 293.85
  • Agnico Eagle Mines's level of debt (37.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (37.1% vs 37.9% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Information is not available.
  • Unable to confirm if Agnico Eagle Mines has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Agnico Eagle Mines's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Agnico Eagle Mines has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Agnico Eagle Mines's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.13%
Current annual income from Agnico Eagle Mines dividends. Estimated to be 1.03% next year.
If you bought CA$2,000 of Agnico Eagle Mines shares you are expected to receive CA$23 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Agnico Eagle Mines's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.02%).
  • Agnico Eagle Mines's dividend is below the markets top 25% of dividend payers in Canada (5.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:AEM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:AEM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.44 3.00
2020-12-31 0.46 8.00
2019-12-31 0.46 8.00
TSX:AEM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-14 0.500 1.160
2018-10-24 0.440 1.141
2018-07-25 0.440 1.214
2018-04-26 0.440 0.988
2018-02-14 0.440 1.061
2017-10-26 0.440 0.976
2017-07-27 0.400 0.855
2017-04-27 0.400 0.855
2017-02-15 0.400 0.914
2016-10-26 0.400 0.905
2016-07-28 0.400 0.760
2016-07-27 0.400 0.720
2016-02-10 0.320 0.749
2015-10-30 0.320 1.157
2015-10-28 0.320 1.140
2015-05-01 0.320 1.191
2014-10-29 0.320 1.140
2014-07-31 0.320 0.966
2014-05-05 0.320 0.911
2014-05-01 0.320 1.036
2014-03-26 0.320 1.072
2014-02-12 0.320 0.973
2013-10-23 0.880 3.127
2013-07-29 0.880 3.191
2013-04-25 0.880 2.998
2012-12-12 0.880 2.066
2012-11-02 0.800 1.463
2012-07-27 0.800 1.628
2012-04-27 0.800 2.048
2012-02-15 0.800 2.319
2010-12-15 0.640 1.149
2009-12-17 0.180 0.289
2009-03-23 0.180 0.314

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Agnico Eagle Mines's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • No need to calculate the sustainability of Agnico Eagle Mines's dividends in 3 years as they are not expected to pay a notable one for Canada.
X
Income/ dividend checks
We assess Agnico Eagle Mines's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Agnico Eagle Mines afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Agnico Eagle Mines has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Agnico Eagle Mines's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sean Boyd
COMPENSATION $9,707,835
AGE 59
TENURE AS CEO 21.2 years
CEO Bio

Mr. Sean Boyd, CPA, C.A. has been the Chief Executive Officer of Agnico Eagle Mines Limited since 1998 and served as its President from February 2012 to April 6, 2015. Mr. Boyd has been with Agnico-Eagle since 1985. Mr. Boyd served as the President of Agnico Eagle Mines Limited from 1998 to 2005. He served as the President of Contact Diamond Corporation (formerly Sudbury Contact Mines Ltd., a 63.7%-owned subsidiary of Agnico-Eagle) until February 28, 2005 and served as its Chief Executive Officer. Mr. Boyd served as Vice-President and Chief Financial Officer of Agnico Eagle Mines Limited from 1996 to 1998 and as its Treasurer and Chief Financial Officer from 1990 to 1996. He also served as the Secretary and Treasurer of Agnico Eagle Mines Limited since 1990 and also as its Comptroller from 1985 to 1990. He served as President and Chief Executive Officer of Mentor Exploration and Development Co. Ltd. Mr. Boyd has been a Vice Chairman at Agnico Eagle Mines Limited since December 2005 and as Director since April 14, 1998. He served as the Vice Chairman of Contact Diamond Corporation and Director since June 1990. He serves as a Director of the Mining Association of Canada. Mr. Boyd served as a Director of Golden Goliath Resources Ltd., a junior exploration company since 2000. He served as a Director of Mentor Exploration & Development Co. Ltd. He was a Chartered Accountant with Clarkson Gordon. He is Graduate of the University of Toronto with a Bachelor of Commerce in 1981.

CEO Compensation
  • Sean's compensation has increased whilst company is loss making.
  • Sean's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Agnico Eagle Mines management team in years:

7.1
Average Tenure
59
Average Age
  • The average tenure for the Agnico Eagle Mines management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Sean Boyd

TITLE
Vice-Chairman & CEO
COMPENSATION
$10M
AGE
59
TENURE
21.2 yrs

Ammar Al-Joundi

TITLE
President
COMPENSATION
$5M
AGE
54
TENURE
3.9 yrs

David Smith

TITLE
Senior VP of Finance & CFO
COMPENSATION
$3M
AGE
54
TENURE
6.4 yrs

Yvon Sylvestre

TITLE
Senior Vice President of Operations - Canada & Europe
COMPENSATION
$3M
AGE
56
TENURE
7.1 yrs

Jean Robitaille

TITLE
Senior Vice-President of Business Strategy & Technical Services
COMPENSATION
$2M
AGE
55
TENURE
5.1 yrs

Brian Christie

TITLE
Vice President of Investor Relations
TENURE
7.2 yrs

Greg Laing

TITLE
General Counsel
COMPENSATION
$2M
AGE
59
TENURE
12.3 yrs

Don Allan

TITLE
Senior Vice President of Corporate Development
COMPENSATION
$2M
AGE
62
TENURE
17.2 yrs

Louise Grondin

TITLE
Senior Vice President of Environment
AGE
64
TENURE
4.1 yrs

Alain Blackburn

TITLE
Senior Vice President of Exploration
COMPENSATION
$3M
AGE
61
TENURE
12.3 yrs
Board of Directors Tenure

Average tenure and age of the Agnico Eagle Mines board of directors in years:

8.2
Average Tenure
64.5
Average Age
  • The tenure for the Agnico Eagle Mines board of directors is about average.
Board of Directors

James Nasso

TITLE
Chairman of the Board
COMPENSATION
$585K
AGE
84

Sean Boyd

TITLE
Vice-Chairman & CEO
COMPENSATION
$10M
AGE
59
TENURE
13.3 yrs

Leanne Baker

TITLE
Director
COMPENSATION
$300K
AGE
66
TENURE
16.2 yrs

Robert Gemmell

TITLE
Independent Director
COMPENSATION
$305K
AGE
61
TENURE
8.2 yrs

Deborah McCombe

TITLE
Director
COMPENSATION
$295K
AGE
65
TENURE
5.1 yrs

Mel Leiderman

TITLE
Director
COMPENSATION
$280K
AGE
66
TENURE
16.2 yrs

Merv Roberts

TITLE
Independent Director
COMPENSATION
$280K
AGE
68
TENURE
10.8 yrs

Martine Celej

TITLE
Director
COMPENSATION
$280K
AGE
52
TENURE
8.1 yrs

Sean Riley

TITLE
Independent Director
COMPENSATION
$280K
AGE
64
TENURE
8.2 yrs

Jamie Sokalsky

TITLE
Director
COMPENSATION
$280K
AGE
61
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • Agnico Eagle Mines insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
13. Mar 19 Sell Alain Blackburn Individual 12. Mar 19 12. Mar 19 -2,000 CA$59.32 CA$-118,640
12. Mar 19 Sell Yvon Sylvestre Individual 08. Mar 19 08. Mar 19 -4,800 CA$58.25 CA$-279,600
08. Mar 19 Sell Yvon Sylvestre Individual 07. Mar 19 07. Mar 19 -4,000 CA$57.20 CA$-228,800
06. Mar 19 Sell Yvon Sylvestre Individual 05. Mar 19 05. Mar 19 -4,000 CA$57.05 CA$-228,200
25. Feb 19 Sell Robert Gemmell Individual 20. Feb 19 20. Feb 19 -1,792 CA$57.53 CA$-103,094
25. Feb 19 Sell Donald Allan Individual 19. Feb 19 19. Feb 19 -5,000 CA$58.32 CA$-291,600
22. Feb 19 Sell Yvon Sylvestre Individual 19. Feb 19 19. Feb 19 -967 CA$58.26 CA$-56,337
15. Jan 19 Sell Marc Legault Individual 14. Jan 19 14. Jan 19 -2 CA$53.06 CA$-106
09. Jan 19 Sell Donald Allan Individual 09. Jan 19 09. Jan 19 -5,000 CA$53.28 CA$-266,400
04. Jan 19 Sell John Roberts Individual 31. Dec 18 31. Dec 18 -414 CA$54.65 CA$-22,625
17. Dec 18 Sell John Roberts Individual 17. Dec 18 17. Dec 18 -1,000 CA$52.29 CA$-52,290
01. Nov 18 Buy Ammar Al-Joundi Individual 01. Nov 18 01. Nov 18 1,000 CA$48.21 CA$48,210
17. Aug 18 Sell Jean Robitaille Individual 15. Aug 18 15. Aug 18 -2 CA$47.09 CA$-94
09. Aug 18 Buy Jamie Sokalsky Individual 07. Aug 18 07. Aug 18 4,000 CA$52.43 CA$209,720
11. Jul 18 Sell Robert Laing Individual 29. Jun 18 29. Jun 18 -10,000 CA$60.50 CA$-605,000
18. Jun 18 Sell Alain Blackburn Individual 18. Jun 18 18. Jun 18 -3,000 CA$60.17 CA$-180,510
12. Jun 18 Sell Alain Blackburn Individual 12. Jun 18 12. Jun 18 -3,900 CA$58.92 CA$-229,788
11. May 18 Sell Yvon Sylvestre Individual 10. May 18 10. May 18 -7,910 CA$56.50 CA$-446,915
11. May 18 Sell Robert Gemmell Individual 10. May 18 10. May 18 -3,077 CA$56.86 CA$-174,958
29. Mar 18 Sell John Roberts Individual 28. Mar 18 28. Mar 18 -800 CA$53.62 CA$-42,896
X
Management checks
We assess Agnico Eagle Mines's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Agnico Eagle Mines has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits. The company’s flagship property is the LaRonde mine located in the Abitibi region of northwestern Quebec, Canada. As of December 31, 2017, Its LaRonde mine had a proven and probable mineral reserve of approximately 2.7 million ounces of gold. The company is also involved in exploration activities in Canada, Europe, Latin America, and the United States. Agnico Eagle Mines Limited was founded in 1953 and is headquartered in Toronto, Canada.

Details
Name: Agnico Eagle Mines Limited
AEM
Exchange: TSX
Founded: 1953
$13,773,805,915
232,711,601
Website: http://www.agnicoeagle.com
Address: Agnico Eagle Mines Limited
145 King Street East,
Suite 400,
Toronto,
Ontario, M5C 2Y7,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AEM Common Shares New York Stock Exchange US USD 14. Dec 1972
DB AE9 Common Shares Deutsche Boerse AG DE EUR 14. Dec 1972
LSE 0R2J Common Shares London Stock Exchange GB CAD 14. Dec 1972
TSX AEM Common Shares The Toronto Stock Exchange CA CAD 14. Dec 1972
SWX AEM Common Shares SIX Swiss Exchange CH CHF 14. Dec 1972
Number of employees
Current staff
Staff numbers
5,514
Agnico Eagle Mines employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/20 23:31
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/03/12
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.