Agnico Eagle Mines
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 Q3 regulatory filings by fund managers ($100M+ AUM)
123% more first-time investments, than exits
New positions opened: 134 | Existing positions closed: 60
70% more call options, than puts
Call options by funds: $717M | Put options by funds: $422M
17% more capital invested
Capital invested by funds: $20.3B [Q2] → $23.8B (+$3.52B) [Q3]
10% more funds holding
Funds holding: 662 [Q2] → 727 (+65) [Q3]
7% more funds holding in top 10
Funds holding in top 10: 41 [Q2] → 44 (+3) [Q3]
3.29% less ownership
Funds ownership: 62.18% [Q2] → 58.89% (-3.29%) [Q3]
24% less repeat investments, than reductions
Existing positions increased: 202 | Existing positions reduced: 266
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
1 analyst rating
Jefferies David Hove 100% 1-year accuracy 1 / 1 met price target | 5%upside $88 | Hold Maintained | 7 Jan 2025 |
Financial journalist opinion
Based on 20 articles about AEM published over the past 30 days
