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One of the world's largest gold miners, operating mines mainly in Canada plus Mexico, Finland and Australia.
One of the world's largest gold miners, operating mines mainly in Canada plus Mexico, Finland and Australia.
Sells gold at the market price, so profit is the gap between the gold price and its cost of mining it, with silver, zinc and copper as smaller by-products. Growth has come through mergers: Kirkland Lake in 2022, which brought Detour Lake and Fosterville, and the 2023 purchase, with Yamana, of Canadian Malartic.
In one line: A gold-focused Newmont peer..
Moat: narrow (scale, installed base). Large, low-political-risk gold reserve base concentrated in stable jurisdictions, unlike many global peers.
Headquarters: Toronto, Canada · Founded: 1957 · Employees: 18,216
Size Agnico Eagle Mines (AEM.TO) is a Canada Materials company (Precious Metals) with a market value of $98.4B, the 10th largest of 420 Canada companies the cockpit tracks. Shares closed at C$270.75 on 6 Nov 2026.
Performance Over six months the shares gained 5.5%, against -12.7% for the median peer and +5.2% for the Canada market (cap-weighted) — 4th highest of 12 in its peer set.
Growth Revenue grew 41.4% over the last twelve months (peer median +48.6%); the operating margin is 59.0% (peer median 52.6%).
Valuation It trades at 16.9× forward earnings against a peer median of 11.8× (4th most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +32%, so the hurdle is -23 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 12.8 points above its cost of capital (11.5% WACC).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$20.9B | C$16.6B | C$11.4B | C$8.94B | C$7.47B |
| Revenue growth | — | +47% | +27% | +20% | — |
| Gross profit | C$12.8B | C$9.33B | C$4.70B | C$2.64B | C$2.23B |
| EBITDA | C$14.7B | C$11.2B | C$6.44B | C$4.35B | C$3.38B |
| Net income | C$8.56B | C$6.23B | C$2.60B | C$2.62B | C$873M |
| Free cash flow | C$5.75B | C$6.11B | C$2.91B | C$1.26B | C$727M |
| Capital expenditure | C$4.45B | C$3.40B | C$2.51B | C$2.25B | C$2.00B |
| Total debt | C$466M | C$441M | C$1.84B | C$2.64B | C$2.02B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Agnico Eagle Mines AEM.TO | $98.4B | +6% | +41% | 59% | 16.9× | 8.4% |
| Newmont NEM | $126B | +4% | +23% | 55% | 12.7× | -8.9% |
| Barrick Mining ABX.TO | $67.2B | 0% | +49% | 52% | 10.9× | -3.0% |
| Kinross Gold K.TO | $26.4B | -25% | +30% | 51% | 8.5× | -3.9% |
| B2Gold BTO.TO | $7.19B | +13% | +72% | 46% | 6.1× | -7.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AEM.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.3% | +2.4% | 4th highest of 12 |
| 6-month return | +5.5% | -12.7% | 4th highest of 12 |
| Distance from 52-week high | -22.4% | -28.0% | 5th highest of 12 |
| Revenue growth (TTM) | +41.4% | +48.6% | 5th lowest of 12 |
| Operating margin | 59.0% | 52.6% | 4th highest of 12 |
| Forward P/E | 16.9× | 11.8× | 4th most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 8.4% | -5.8% | 4th most demanding of 11 |
| Growth delivered (Del g) | +31.6% | +14.7% | 2nd highest of 11 |
| Hurdle (Req g minus delivered) | -23.2 pp | -21.9 pp | 5th least demanding of 11 |
| ROIC minus cost of capital | +12.8 pp | +25.8 pp | 5th lowest of 12 |
| EV / EBITDA | 9.1× | 7.1× | 4th most expensive of 10 |
| Net debt / EBITDA | -0.3× | -0.2× | 5th least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Agnico Eagle Mines AEM.TO | Canada | $98.4B | +6% | +41% | 59% | 16.9× | 8.4% | +31.6% |
| Zijin Mining 601899.SS | China | $109B | -15% | +16% | 30% | 9.6× | -10.2% | +15.3% |
| Newmont NEM | United States | $126B | +4% | +23% | 55% | 12.7× | -8.9% | +14.1% |
| Barrick Mining ABX.TO | Canada | $67.2B | 0% | +49% | 52% | 10.9× | -3.0% | +7.0% |
| Wheaton Precious Metals WPM.TO | Canada | $62.3B | +7% | +89% | 73% | 29.9× | n/a | n/a |
| Franco-Nevada FNV.TO | Canada | $49.6B | +16% | +72% | 75% | 31.5× | 17.7% | +13.3% |
| Anglogold Ashanti AU | United States | $47.0B | -13% | +139% | 51% | 11.7× | -7.7% | +17.4% |
| Zijin Gold International 2259.HK | Hong Kong | $46.6B | -19% | +106% | 54% | 15.7× | 17.3% | +43.4% |
| Gold Fields Limited Sponsored ADR GFI | United States | $31.5B | -13% | +71% | 53% | 9.2× | -14.1% | +17.7% |
| Kinross Gold K.TO | Canada | $26.4B | -25% | +30% | 51% | 8.5× | -3.9% | +11.8% |
| Northern Star Resources NST.AX | Australia | $25.3B | +19% | +19% | 35% | 17.8× | 17.5% | +22.5% |
| Fresnillo FRES.L | United Kingdom | $24.9B | -31% | +48% | 59% | 11.8× | -8.2% | +12.6% |