Agnico Eagle Mines

AEM · TORONTO

$173.94−$2.21 (−1.25%)TodayMarket closed · Oct 23, 7:57 PM ET

Prev close $176.15

AEM analyst rating

BuyConsensus of 10 analysts over the last 12 months. 60% rate it a buy.

Strong buy0
Buy6
Hold4
Underperform0
Sell0

12-month price target · 12 analysts

Average $227.66 (+30.9% upside)

Low: $192.00
Now: $173.94
High: $280.35

Upgrades and downgrades

The latest rating actions, newest first

AEM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Freedom Broker	Oct 22, 2026	Downgrade	Buy → Hold	$255.00 → $212.00	66%
JP Morgan	Oct 21, 2026	Maintains	Neutral	$179.00 → $190.00	60%
Barclays	Oct 19, 2026	Maintains	Overweight	$188.00 → $218.00	59%
UBS	Oct 8, 2026	Maintains	Neutral	$170.00 → $190.00	78%
RBC Capital	Sep 16, 2026	Maintains	Sector Perform	$210.00 → $225.00	49%
JP Morgan	Aug 3, 2026	Maintains	Neutral	$175.00 → $179.00	60%
JP Morgan	Jul 21, 2026	Maintains	Neutral	$222.00 → $175.00	60%
Barclays	Jul 16, 2026	Maintains	Overweight	$210.00 → $188.00	59%
Scotiabank	Jul 14, 2026	Maintains	Sector Outperform	$278.00 → $260.00	67%
RBC Capital	Jul 9, 2026	Maintains	Sector Perform	$230.00 → $210.00	49%

The case for and against

Updated Dec 8, 2025

Bull case

Agnico Eagle Mines has shown a strong commitment to growth and operational efficiency, particularly following its 2022 merger with Kirkland Lake Gold, which expanded its asset portfolio with the acquisition of the Macassa and other significant mines. The company's focus on organic growth opportunities beyond 2030 and regional competitive advantages enhances its long-term viability in the gold market. With approximately 15 years of gold reserves and plans for project advancements, Agnico Eagle aims to sustain a robust economic outlook, supported by favorable initial capital expenditure projections and significant internal rates of return.

Bear case

Agnico Eagle Mines has faced significant operational challenges, notably the historical limitations imposed by the unfavourable orientation of the #3 Shaft, which has hampered mining operations and development efforts in vital zones. The company's downside valuation scenario suggests vulnerability to declining gold prices, projecting a value of US$80 based on sustained low long-term gold prices of US$2,000 per ounce while assuming current operational and financial metrics remain static. Furthermore, the focus on enhancing production in lower-risk jurisdictions does not mitigate the uncertainties of accessing key resources effectively, as evidenced by ongoing infrastructure issues and the reliance on continued exploration activities.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.