Agnico Eagle Mines Limited (AEM) - Stock Analysis
Last updated: Jan 18, 2026
Research Idea
Research content for general circulation. Not individualized advice. Methodology & Disclosures
Agnico Eagle Mines displays robust fundamentals with record Q3 gold production, improved profitability, cash flow strength, and favorable macro tailwinds from surging gold prices (+58% YTD), supporting strong short-term momentum (~11% price gain in past month) and making it a compelling hot idea.
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AI Analyst Overview
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Valuation Metrics
Fundamental Analysis
Key Financial Insights: ⢠High margins ⢠Strong liquidity ⢠Low leverage AEM's margins, cash balances and liquidity have strengthened materially with low leverage and positive YTD FCF, though sizable tax liabilities and seasonal earnings/cash conversion merit monitoring.
Price Behavior
Key Price Behavior Insights: ⢠Recovery from low ⢠Higher highs/lows ⢠Volatile price action Support Level: $176â$180 Resistance Level: $200 Over the last month AEM recovered from a dip near $170 to trade around $200, showing renewed buying and higher highs/lows but with prior breakdown below $176â$180 and continued volatility that calls for caution.
Sentiment & News
Key News Insights: ⢠132% price gain ⢠Low debt / strong FCF ⢠20% production target Agnico Eagle has surged ~132% over the past year as rising gold, strong cash flows, ultraâlow debt, successful projects and growing institutional interest position the stock for further upside into 2026.
AI Summary
Reclassify AEM from a defensive gold major to a cashârich, optionalityâled growth story whose nearâterm upside depends on sustained gold prices and flawless project/tax timingâmonitor upcoming Q1 2026 ~$1.2B tax outflow, quarterly throughput/unitâcost trends, and buyback/dividend guidance as immediate catalysts. If gold weakens or tax/execution timing disappoints, expect sharp valuation compression despite strong cash and low leverage.
Description
Agnico Eagle Mines Limited is a Toronto-based mining company, incorporated in 1953, that explores, develops and produces mineral properties across Canada, Mexico and Finland through its Northern and Southern business segments. The companyâs operations center on gold production while also pursuing deposits of other metals, and its LaRonde mine in Quebec held about 3.0 million ounces of proven and probable gold reserves as of December 31, 2021.
Idea History
| Date | Close | Ticker | Company | Summary | Status | P/L |
|---|---|---|---|---|---|---|
| Dec 29 | Jan 5 | AEM | Agnico Eagle Mines Limited | Agnico Eagle Mines displays robust fundamentals with record Q3 gold production, improved profitability, cash flow strength, and favorable macro tailwinds from surging gold prices (+58% YTD), supporting strong short-term momentum (~11% price gain in past month) and making it a compelling hot idea. | Closed | +2.2% |