Agnico Eagle Mines Limited

DB:AE9 Stock Report

Market Cap: €40.5b

Agnico Eagle Mines Valuation

Is AE9 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of AE9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AE9 (€77.3) is trading above our estimate of fair value (€57.76)

Significantly Below Fair Value: AE9 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AE9?

Key metric: As AE9 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for AE9. This is calculated by dividing AE9's market cap by their current earnings.
What is AE9's PE Ratio?
PE Ratio41.7x
EarningsUS$1.01b
Market CapUS$42.17b

Price to Earnings Ratio vs Peers

How does AE9's PE Ratio compare to its peers?

The above table shows the PE ratio for AE9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average40.5x
BAS BASF
77.2x34.2%€38.0b
HEI Heidelberg Materials
11.5x7.8%€21.2b
SY1 Symrise
37.3x13.2%€14.8b
EVK Evonik Industries
36x33.1%€8.2b
AE9 Agnico Eagle Mines
41.7x8.9%€42.2b

Price-To-Earnings vs Peers: AE9 is expensive based on its Price-To-Earnings Ratio (41.7x) compared to the peer average (40.5x).

Price to Earnings Ratio vs Industry

How does AE9's PE Ratio compare vs other companies in the European Metals and Mining Industry?

14 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AE9 41.7xIndustry Avg. 12.1xNo. of Companies14PE0816243240+
14 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AE9 is expensive based on its Price-To-Earnings Ratio (41.7x) compared to the European Metals and Mining industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is AE9's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AE9 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio41.7x
Fair PE Ratio19.4x

Price-To-Earnings vs Fair Ratio: AE9 is expensive based on its Price-To-Earnings Ratio (41.7x) compared to the estimated Fair Price-To-Earnings Ratio (19.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst AE9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€77.30
€93.44
+20.9%
17.9%€122.04€53.45n/a11
Nov ’25€79.74
€88.07
+10.5%
17.2%€117.99€51.68n/a11
Oct ’25€73.22
€80.70
+10.2%
15.4%€91.24€50.59n/a11
Sep ’25€73.92
€73.36
-0.8%
16.5%€91.11€50.52n/a11
Aug ’25€70.60
€73.77
+4.5%
14.7%€93.60€51.90n/a12
Jul ’25€61.08
€71.09
+16.4%
13.2%€80.47€52.33n/a12
Jun ’25€62.02
€69.97
+12.8%
13.2%€80.06€50.92n/a13
May ’25€59.64
€68.26
+14.4%
14.3%€80.65€51.30n/a13
Apr ’25€55.10
€60.70
+10.2%
10.2%€71.12€49.88n/a13
Mar ’25€45.76
€60.08
+31.3%
9.3%€69.21€49.83n/a13
Feb ’25€45.53
€61.62
+35.3%
8.0%€69.00€49.68n/a12
Jan ’25€49.60
€60.03
+21.0%
9.1%€68.94€48.72n/a13
Dec ’24€49.93
€59.69
+19.6%
9.4%€68.96€48.73n/a12
Nov ’24€44.40
€60.66
+36.6%
8.7%€68.14€50.16€79.7411
Oct ’24€43.45
€61.53
+41.6%
8.7%€68.10€50.13€73.2211
Sep ’24€45.05
€59.32
+31.7%
8.3%€66.22€48.74€73.9213
Aug ’24€46.20
€58.79
+27.2%
8.9%€65.31€48.08€70.6013
Jul ’24€45.18
€59.29
+31.2%
8.9%€65.98€48.57€61.0813
Jun ’24€48.80
€60.10
+23.2%
8.2%€66.43€49.59€62.0213
May ’24€51.94
€58.04
+11.7%
8.7%€64.72€48.31€59.6412
Apr ’24€47.08
€56.24
+19.5%
7.2%€63.51€50.63€55.109
Mar ’24€44.26
€58.89
+33.0%
7.5%€65.08€51.88€45.769
Feb ’24€51.30
€57.88
+12.8%
8.7%€62.17€45.52€45.539
Jan ’24€49.17
€58.23
+18.4%
7.9%€63.12€47.11€49.609
Dec ’23€49.25
€58.90
+19.6%
8.3%€63.65€47.50€49.938
Nov ’23€46.21
€61.69
+33.5%
9.3%€67.86€50.65€44.4010

Analyst Forecast: Target price is less than 20% higher than the current share price.

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