Agnico Eagle MinesAEM
Market Cap: $38.5B
About: Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It produced more than 3.4 million gold ounces in 2023 and had about 15 years of gold reserves at end 2023. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.
Employees: 10,447
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
82% more call options, than puts
Call options by funds: $564M | Put options by funds: $311M
57% more first-time investments, than exits
New positions opened: 110 | Existing positions closed: 70
17% more funds holding in top 10
Funds holding in top 10: 35 [Q1] → 41 (+6) [Q2]
10% more capital invested
Capital invested by funds: $18.1B [Q1] → $19.9B (+$1.83B) [Q2]
6% more funds holding
Funds holding: 616 [Q1] → 656 (+40) [Q2]
0.4% more ownership
Funds ownership: 60.72% [Q1] → 61.12% (+0.4%) [Q2]
29% less repeat investments, than reductions
Existing positions increased: 182 | Existing positions reduced: 256
Research analyst outlook
4 Wall Street Analysts provided 1 year price targets over the past 3 months
4 analyst ratings
Scotiabank Tanya Jakusconek 61% 1-year accuracy 11 / 18 met price target | 22%upside $94 | Sector Outperform Maintained | 19 Aug 2024 |
Jefferies Matthew Murphy 67% 1-year accuracy 4 / 6 met price target | 14%downside $66 | Hold Maintained | 12 Jul 2024 |
CIBC Anita Soni 83% 1-year accuracy 5 / 6 met price target | 31%upside $101 | Outperformer Maintained | 10 Jul 2024 |
BMO Capital Jackie Przybylowski 100% 1-year accuracy 19 / 19 met price target | 0%upside $77 | Outperform Maintained | 20 Jun 2024 |
Financial journalist opinion
Based on 18 articles about AEM published over the past 30 days