Agnico Eagle Mines (AEM) Forecasts $12 EPS by 2026 Amid Strong Gold Prices
Written by Emily J. Thompson, Senior Investment Analyst
Source: seekingalpha
- Gold Stock Recommendation: Agnico Eagle Mines (AEM) is currently the top precious metal equity pick, with a projected non-GAAP EPS of $11-$12 by 2026, and its current share price below $200 indicates strong investment potential.
- ETF Investment Strategy: The VanEck Gold Miners ETF (GDX) is recommended as a straightforward investment option, while the WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) combines gold miner stocks with gold futures, showing increased trading volume and market interest recently.
- Barrick Mining Outlook: Barrick (B) is favored for its exposure to gold and potential asset IPOs, although the current investment climate is uncertain due to possible corrections in iron ore and gold prices, suggesting a cautious approach.
- Rio Tinto Potential: Rio Tinto (RIO) is viewed positively for its efficiency and potential merger with Glencore, despite risks associated with iron ore price fluctuations, making it a stock to keep on the radar.
Analyst Views on AEM
Wall Street analysts forecast AEM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AEM is 193.87 USD with a low forecast of 121.67 USD and a high forecast of 231.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
9 Buy
2 Hold
0 Sell
Strong Buy
Current: 200.420
Low
121.67
Averages
193.87
High
231.00
Current: 200.420
Low
121.67
Averages
193.87
High
231.00
About AEM
Agnico Eagle Mines Limited is a Canada-based and led senior gold mining company engaged in producing precious metals from operations in Canada, Australia, Finland and Mexico, with a pipeline of exploration and development projects. Its operations include Canadian Malartic Complex, Detour Lake, Fosterville, Goldex, Kittila, La India, LaRonde Complex, Macassa, Meadowbank Complex, Meliadine and Pinos Altos. Its exploration sites include Barsele, Delta, Dubuisson, El Barqueno, Hammond Reef, Hope Bay, Jennings, Morelos Sur, North Madsen, Northern Territory, Pandora/Wood-Pandora, and others. The Canadian Malartic complex is located in the town of Malartic, 25 kilometers (km) west of Val-d’Or in northwestern Quebec. The Fosterville mine is a high-grade, low-cost underground gold mine, located 20 km from the city of Bendigo. It also owns a 100% interest in all its properties (128,680 hectares) in Quebec. Its projects also include Marban Alliance, Horizon, Alpha, Launay, Peacock, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
