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Agnico Eagle is the second largest gold miner in the world.
Analysts are cutting AEM's earnings estimates as gold retreats from its all-time highs.
Agnico Eagle has paid a cash dividend every year since 1983.
Agnico Eagle Mines Ltd. (AEM - Free Report) is the second largest gold miner in the world. Analysts are cutting 2026 earnings estimates on this Zacks Rank #5 (Strong Sell) as gold prices retreat from their all-time highs.
Agnico Eagle Mines was founded in 1957 and is headquartered in Toronto, Canada. It’s Canada’s largest gold miner and is the second largest gold miner in the world. The company operates mines in Canada, Australia, Finland, and Mexico.
Analysts Cut Agnico Eagle Mines Earnings Estimates as Gold Prices Fall
Gold hit a new all-time high of $5,589 per ounce on Jan 28, 2026, but it has since retreated and has recently traded around $4,000 an ounce.
Analysts have been trying to keep up with the impact of the price changes for the gold miners. Earlier this year, they were raising estimates on Agnico Eagle Mines as gold prices soared. Now, they are cutting them to get in line with the falling gold price.
One estimate has been cut for the second quarter 2026 in the last week. The Q2 Zacks Consensus is now looking for $2.98, down from $3.16 just 60 days ago.
Similarly, analysts have been cutting full year earnings estimates. Four estimates have been slashed for 2026 in the last week, with seven being cut in the prior 30 days.
The 2026 Zacks Consensus Estimate has fallen to $12.09 from $13.20 in the last 30 days.
These earnings cuts will produce a Zacks Rank of #5 (Strong Sell) because there are no analysts raising estimates and the consensus estimate is falling.
However, this is still earnings growth of 46% year-over-year as Agnico Eagle Mines made only $8.28 last year.
It will report second quarter 2026 results on July 29, 2026.
Here’s what it looks like on the price and consensus chart.
Image Source: Zacks Investment Research
Shares of Agnico Eagle Mines Retreat from All-Time Highs
Shares of Agnico Eagle Mines soared to new all-time highs as gold prices rose above $5,000 per ounce earlier this year.
But over the last 3 months, shares have retreated. Agnico Eagle Mines is down more than the price of gold during that time.
Image Source: Zacks Investment Research
However, the stock is cheaper than ever. Agnico Eagle Mines trades with a forward price-to-earnings (P/E) ratio of just 11.7. A P/E under 15 usually indicates value.
Agnico Eagle Mines also takes its commitment to its shareholders seriously. It has paid a cash dividend every year since 1983. That dividend is currently yielding 1.3%.
Reminder, the Zacks Rank is a short-term recommendation of one to three months. It changes when analysts revise their earnings estimates.
Watch those analyst earnings estimate revisions closely if gold inches back towards $5,000 per ounce. The Rank will become more favorable if gold rises later this year.
View the Zacks #1 Rank List
Image: Bigstock
Bear of the Day: Agnico Eagle Mines (AEM)
Key Takeaways
Agnico Eagle Mines Ltd. (AEM - Free Report) is the second largest gold miner in the world. Analysts are cutting 2026 earnings estimates on this Zacks Rank #5 (Strong Sell) as gold prices retreat from their all-time highs.
Agnico Eagle Mines was founded in 1957 and is headquartered in Toronto, Canada. It’s Canada’s largest gold miner and is the second largest gold miner in the world. The company operates mines in Canada, Australia, Finland, and Mexico.
Analysts Cut Agnico Eagle Mines Earnings Estimates as Gold Prices Fall
Gold hit a new all-time high of $5,589 per ounce on Jan 28, 2026, but it has since retreated and has recently traded around $4,000 an ounce.
Analysts have been trying to keep up with the impact of the price changes for the gold miners. Earlier this year, they were raising estimates on Agnico Eagle Mines as gold prices soared. Now, they are cutting them to get in line with the falling gold price.
One estimate has been cut for the second quarter 2026 in the last week. The Q2 Zacks Consensus is now looking for $2.98, down from $3.16 just 60 days ago.
Similarly, analysts have been cutting full year earnings estimates. Four estimates have been slashed for 2026 in the last week, with seven being cut in the prior 30 days.
The 2026 Zacks Consensus Estimate has fallen to $12.09 from $13.20 in the last 30 days.
These earnings cuts will produce a Zacks Rank of #5 (Strong Sell) because there are no analysts raising estimates and the consensus estimate is falling.
However, this is still earnings growth of 46% year-over-year as Agnico Eagle Mines made only $8.28 last year.
It will report second quarter 2026 results on July 29, 2026.
Here’s what it looks like on the price and consensus chart.
Image Source: Zacks Investment Research
Shares of Agnico Eagle Mines Retreat from All-Time Highs
Shares of Agnico Eagle Mines soared to new all-time highs as gold prices rose above $5,000 per ounce earlier this year.
But over the last 3 months, shares have retreated. Agnico Eagle Mines is down more than the price of gold during that time.
Image Source: Zacks Investment Research
However, the stock is cheaper than ever. Agnico Eagle Mines trades with a forward price-to-earnings (P/E) ratio of just 11.7. A P/E under 15 usually indicates value.
Agnico Eagle Mines also takes its commitment to its shareholders seriously. It has paid a cash dividend every year since 1983. That dividend is currently yielding 1.3%.
Reminder, the Zacks Rank is a short-term recommendation of one to three months. It changes when analysts revise their earnings estimates.
Watch those analyst earnings estimate revisions closely if gold inches back towards $5,000 per ounce. The Rank will become more favorable if gold rises later this year.