AEM Stock Overview
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland.
Agnico Eagle Mines Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$37.54|
|52 Week High||US$67.14|
|52 Week Low||US$36.69|
|1 Month Change||-13.82%|
|3 Month Change||-22.69%|
|1 Year Change||-25.74%|
|3 Year Change||-29.98%|
|5 Year Change||-16.89%|
|Change since IPO||355.03%|
Recent News & Updates
Slowing Rates Of Return At Agnico Eagle Mines (NYSE:AEM) Leave Little Room For Excitement
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Typically...
Premier Leverage To Gold Prices: Buy Agnico Eagle
Summary Over the past 12 months, Agnico Eagle has morphed into perhaps the top blue-chip pick in the precious metals mining industry. Today's valuation is at a company record low on trailing results, especially when measured against a richly-priced U.S. stock market. The dividend yield story is excellent (near 4%), with the possibility of far greater payouts in future years. Gold appears ready to reverse strongly higher, influenced by a weakening stock market and economy. If you are searching for low-risk gold exposure in your portfolio, please consider Agnico Eagle Mines (AEM). It is one of the lowest-AISC gold miners in the world, with assets located in the safest political jurisdictions of Canada (74% of 2021 production and 85% of reserves), Finland, Australia and Mexico. The company has quietly been increasing its reserves into a 30-year plan of operation, and sports a conservative balance sheet. Valuations have reached an all-time low in the summer of 2022, and the dividend yield proposition is approaching best in class. Agnico Eagle - September 2022 Presentation Agnico Eagle - September 2022 Presentation The company has digested the merger with Canadian miner Kirkland Gold (closed in February), and has witnessed amazing success increasing reserves over the past year. To get a clearer picture of drilling results and the jump in economically recoverable reserves, I hope you can read Seeking Alpha contributor Taylor Dart's latest missive on Agnico posted a few weeks ago here. One of the article's bullet points summarized his bullish view, With the stock having industry-leading margins, a flawless track record, meaningful organic growth on deck, and being a top-10 exploration story, I see it as a must-own producer, especially with it now paying a 4% dividend yield. And, last week the company announced a spend of $580 million to become a 50/50 joint partner with Teck Resources (TECK) developing a copper-zinc asset in Mexico through the San Nicolás project. The unexpected move is an effort to supply the budding and potential exponential electric vehicle [EV] demand for battery and electric motor critical metals. A 15-year mine life, with production beginning in 2026, and $500 million in future capital costs are prorated for Agnico's development share. Total operating costs are projected below $0.50 per pound of copper, net of credits from other metals mined. What I like best about Agnico Eagle is its disciplined spending approach to growing the company. Almost no debt exists, net of cash on hand. This low leverage profile is the old-fashioned and conservative way to run a business, which few in the capital-intensive mining business have been able to pull off. Agnico Eagle - September 2022 Presentation All-Time Low Valuation The quality of its assets, including long-life reserves in safer jurisdictions, combined with limited debt means Wall Street values the company on the high end of the spectrum vs. other precious and base metal mining enterprises. You can review this premium valuation vs. a group of leading global miners below. On forward price to earnings and enterprise value to EBITDA, Agnico does not appear to be a bargain at first glance. YCharts - Gold and Base Metal Mining Leaders, Price to Forward Projected Earnings, 12 Months YCharts - Gold and Base Metal Mining Leaders, EV to Forward Projected EBITDA, 12 Months However, simple analysis of basic fundamental ratios on the company's operations since 1995 pinpoints a record low valuation today. Despite its most diversified setup, massive resource base, positive growth future, and rock-solid financials, you can buy Agnico today at its cheapest price to sales, cash flow, and book value multiples EVER (in combination). YCharts - Agnico Eagle Price to Sales, Cash Flow, Book Value, 1995-Present Another smart reason to buy and hold AEM today is found in its highest dividend yield EVER. It's also the best "relative" yield setting to the overall U.S. equity market in its history. I know plenty of investors are flocking to royalty companies in the mining sector paying 1% or 2% dividend distributions. Why not capture DOUBLE and TRIPLE the yields on royalty setups upfront, with dramatically better leverage to rising gold prices in the future through this "premier" mining security? YCharts - AEM Dividend Yield vs. S&P 500 ETF, 1990-Present Bullish Gold Outlook This company represents another great pick in the bottoming gold/silver/platinum/palladium mining sectors of the investment market. I have become increasingly bullish on gold and related mining investments during the course of the year, and near-unanimous sentiment by analysts/investors that gold cannot rise while the Federal Reserve and other central banks are aggressively tightening has pushed long-term valuations into ridiculously oversold and undervalued territory. StockCharts.com - Gold Nearest Futures, 18 Months of Daily Changes With gold reaching a 2-year low price in U.S. dollars last week, while silver, platinum and palladium are holding above their 2022 bottoms, the odds of a reversal higher in all precious metals is growing. Technically, this is the type of divergent action you see at important inflection points. Just as important, the gold price adjusted to fluctuations in the U.S. Dollar Index of paper currency exchange rates is still trading ABOVE its July low point. YCharts - Precious Metals Pricing, Past 2 Months Measured against money printing through the rise in M2 money stock or future requirements for money printing in the total Treasury debt outstanding number, US$1671 an ounce for gold (the ultimate store of value and monetary metal) is just as cheap as $1100 gold in 2018! So, predicting and preparing for $2500 to $3000 gold in a few years is just plain common sense in a world full of record debts. Whose to say a deep global recession in 2023 won't cause another round of record money printing by central banks, eclipsing even the COVID-19 pandemic shutdown response? YCharts - M2 Money Stock vs. Gold Price, 1990-Present YCharts - U.S. Treasury Debt vs. Gold Price, 1990-Present Final Thoughts The logic to own Agnico Eagle revolves around (1) capturing a record low valuation from a top gold miner in your portfolio, (2) a terrific above-normal dividend yield that can rise substantially with gold prices, and (3) the potential of a double or triple in the stock quote if gold prices are headed to $2500+ an ounce during 2023-24. As a bonus, gold assets have a history of leading the stock market higher after bear markets, and hedging out-of-control money printing. What's not to like?
Agnico Eagle goes ex-dividend tomorrow
Agnico Eagle (NYSE:AEM) had declared $0.40/share quarterly dividend, in line with previous. Payable Sept. 15; for shareholders of record Sept. 1; ex-div Aug. 31. See AEM Dividend Scorecard, Yield Chart, & Dividend Growth.
|AEM||US Metals and Mining||US Market|
Return vs Industry: AEM underperformed the US Metals and Mining industry which returned -16.6% over the past year.
Return vs Market: AEM underperformed the US Market which returned -23% over the past year.
|AEM Average Weekly Movement||5.7%|
|Metals and Mining Industry Average Movement||8.7%|
|Market Average Movement||6.9%|
|10% most volatile stocks in US Market||15.7%|
|10% least volatile stocks in US Market||2.8%|
Stable Share Price: AEM is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: AEM's weekly volatility (6%) has been stable over the past year.
About the Company
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits.
Agnico Eagle Mines Fundamentals Summary
|AEM fundamental statistics|
Is AEM overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|AEM income statement (TTM)|
|Cost of Revenue||US$2.04b|
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
Oct 26, 2022
|Earnings per share (EPS)||1.29|
|Net Profit Margin||12.24%|
How did AEM perform over the long term?See historical performance and comparison
4.3%Current Dividend Yield
Does AEM pay a reliable dividends?See AEM dividend history and benchmarks
|Agnico Eagle Mines dividend dates|
|Ex Dividend Date||Nov 30 2022|
|Dividend Pay Date||Dec 15 2022|
|Days until Ex dividend||63 days|
|Days until Dividend pay date||78 days|
Does AEM pay a reliable dividends?See AEM dividend history and benchmarks
Is AEM undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 3/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for AEM?
Other financial metrics that can be useful for relative valuation.
|What is AEM's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does AEM's PE Ratio compare to its peers?
|AEM PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
RGLD Royal Gold
BVN Compañía de Minas BuenaventuraA
AEM Agnico Eagle Mines
Price-To-Earnings vs Peers: AEM is expensive based on its Price-To-Earnings Ratio (29.1x) compared to the peer average (19.8x).
Price to Earnings Ratio vs Industry
How does AEM's PE Ratio compare vs other companies in the US Metals and Mining Industry?
Price-To-Earnings vs Industry: AEM is expensive based on its Price-To-Earnings Ratio (29.1x) compared to the US Metals and Mining industry average (6.3x)
Price to Earnings Ratio vs Fair Ratio
What is AEM'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.
|Current PE Ratio||29.1x|
|Fair PE Ratio||20.5x|
Price-To-Earnings vs Fair Ratio: AEM is expensive based on its Price-To-Earnings Ratio (29.1x) compared to the estimated Fair Price-To-Earnings Ratio (20.5x).
Share Price vs Fair Value
What is the Fair Price of AEM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: AEM ($37.54) is trading below our estimate of fair value ($98.01)
Significantly Below Fair Value: AEM is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
Discover undervalued companies
How is Agnico Eagle Mines forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?
Future Growth Score1/6
Future Growth Score 1/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AEM's forecast earnings growth (12.1% per year) is above the savings rate (1.9%).
Earnings vs Market: AEM's earnings (12.1% per year) are forecast to grow slower than the US market (14.6% per year).
High Growth Earnings: AEM's earnings are forecast to grow, but not significantly.
Revenue vs Market: AEM's revenue (1.7% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: AEM's revenue (1.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: AEM's Return on Equity is forecast to be low in 3 years time (8.4%).
Discover growth companies
How has Agnico Eagle Mines performed over the past 5 years?
Past Performance Score1/6
Past Performance Score 1/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AEM has a large one-off loss of $308.8M impacting its June 30 2022 financial results.
Growing Profit Margin: AEM's current net profit margins (12.2%) are lower than last year (20%).
Past Earnings Growth Analysis
Earnings Trend: AEM's earnings have grown significantly by 32.9% per year over the past 5 years.
Accelerating Growth: AEM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: AEM had negative earnings growth (-23.7%) over the past year, making it difficult to compare to the Metals and Mining industry average (82.4%).
Return on Equity
High ROE: AEM's Return on Equity (3.6%) is considered low.
Discover strong past performing companies
How is Agnico Eagle Mines's financial position?
Financial Health Score5/6
Financial Health Score 5/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: AEM's short term assets ($2.5B) exceed its short term liabilities ($984.4M).
Long Term Liabilities: AEM's short term assets ($2.5B) do not cover its long term liabilities ($5.9B).
Debt to Equity History and Analysis
Debt Level: AEM's net debt to equity ratio (2.6%) is considered satisfactory.
Reducing Debt: AEM's debt to equity ratio has reduced from 28.2% to 8.9% over the past 5 years.
Debt Coverage: AEM's debt is well covered by operating cash flow (115.9%).
Interest Coverage: AEM's interest payments on its debt are well covered by EBIT (19.2x coverage).
Discover healthy companies
What is Agnico Eagle Mines's current dividend yield, its reliability and sustainability?
Dividend Score 3/6
Cash Flow Coverage
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
|Agnico Eagle Mines Dividend Yield vs Market|
|Company (Agnico Eagle Mines)||4.3%|
|Market Bottom 25% (US)||1.7%|
|Market Top 25% (US)||4.7%|
|Industry Average (Metals and Mining)||3.8%|
|Analyst forecast in 3 Years (Agnico Eagle Mines)||4.1%|
Notable Dividend: AEM's dividend (4.26%) is higher than the bottom 25% of dividend payers in the US market (1.66%).
High Dividend: AEM's dividend (4.26%) is low compared to the top 25% of dividend payers in the US market (4.57%).
Stability and Growth of Payments
Stable Dividend: AEM's dividend payments have been volatile in the past 10 years.
Growing Dividend: AEM's dividend payments have increased over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: At its current payout ratio (84.9%), AEM's payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its high cash payout ratio (142.7%), AEM's dividend payments are not well covered by cash flows.
Discover strong dividend paying companies
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Ammar Al-Joundi (58 yo)
Mr. Ammar Al-Joundi, MBA is Independent Director at Canadian Imperial Bank of Commerce from April 07, 2022. He had been the President of Agnico Eagle Mines Limited since April 6, 2015 and served as its Sen...
CEO Compensation Analysis
|Ammar Al-Joundi's Compensation vs Agnico Eagle Mines Earnings|
|Date||Total Comp.||Salary||Company Earnings|
|Jun 30 2022||n/a||n/a|
|Mar 31 2022||n/a||n/a|
|Dec 31 2021||US$7m||US$758k|
|Sep 30 2021||n/a||n/a|
|Jun 30 2021||n/a||n/a|
|Mar 31 2021||n/a||n/a|
|Dec 31 2020||US$5m||US$621k|
|Sep 30 2020||n/a||n/a|
|Jun 30 2020||n/a||n/a|
|Mar 31 2020||n/a||n/a|
|Dec 31 2019||US$4m||US$678k|
|Sep 30 2019||n/a||n/a|
|Jun 30 2019||n/a||n/a|
|Mar 31 2019||n/a||n/a|
|Dec 31 2018||US$5m||US$695k|
|Sep 30 2018||n/a||n/a|
|Jun 30 2018||n/a||n/a|
|Mar 31 2018||n/a||n/a|
|Dec 31 2017||US$5m||US$655k|
|Sep 30 2017||n/a||n/a|
|Jun 30 2017||n/a||n/a|
|Mar 31 2017||n/a||n/a|
|Dec 31 2016||US$3m||US$589k|
|Sep 30 2016||n/a||n/a|
|Jun 30 2016||n/a||n/a|
|Mar 31 2016||n/a||n/a|
|Dec 31 2015||US$2m||US$429k|
Compensation vs Market: Ammar's total compensation ($USD6.68M) is below average for companies of similar size in the US market ($USD13.05M).
Compensation vs Earnings: Ammar's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Experienced Management: AEM's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.
Experienced Board: AEM's board of directors are considered experienced (4.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
|09 May 22||BuyUS$109,516||Peter Grosskopf||Individual||2,000||US$54.76|
|05 May 22||SellUS$105,198||Robert Gemmell||Individual||1,792||US$58.70|
|28 Feb 22||BuyUS$1,048,474||Sean Boyd||Individual||20,000||US$52.68|
|28 Feb 22||BuyUS$162,210||Ammar Al-Joundi||Individual||3,200||US$50.69|
|Owner Type||Number of Shares||Ownership Percentage|
Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 86.7%.
|Ownership||Name||Shares||Current Value||Change %||Portfolio %|
Agnico Eagle Mines Limited's employee growth, exchange listings and data sources
- Name: Agnico Eagle Mines Limited
- Ticker: AEM
- Exchange: NYSE
- Founded: 1953
- Industry: Gold
- Sector: Materials
- Implied Market Cap: US$17.079b
- Shares outstanding: 454.94m
- Website: https://www.agnicoeagle.com
Number of Employees
- Agnico Eagle Mines Limited
- 145 King Street East
- Suite 400
- M5C 2Y7
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|AEM||NYSE (New York Stock Exchange)||Yes||Common Shares||US||USD||Dec 1972|
|AEM||TSX (The Toronto Stock Exchange)||Yes||Common Shares||CA||CAD||Dec 1972|
|AE9||DB (Deutsche Boerse AG)||Yes||Common Shares||DE||EUR||Dec 1972|
|AEM||SWX (SIX Swiss Exchange)||Yes||Common Shares||CH||CHF||Dec 1972|
|0R2J||LSE (London Stock Exchange)||Yes||Common Shares||GB||CAD||Dec 1972|
|AEM N||BMV (Bolsa Mexicana de Valores)||Yes||Common Shares||MX||MXN||Dec 1972|
|AEM||BASE (Buenos Aires Stock Exchange)||CEDEAR EACH REP 1/3 COM NPV||AR||ARS||Sep 2014|
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/09/26 00:00|
|End of Day Share Price||2022/09/26 00:00|
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.