Based on the provided data, I'll analyze whether AEM is overvalued through multiple valuation metrics and recent analyst perspectives.
Valuation Analysis
AEM's current valuation metrics show a P/E ratio of 40.6x, EV/EBITDA of 9.83x, P/S ratio of 5.15x, and P/B ratio of 1.97x as of Q3 2024. The P/E ratio has significantly decreased from 75.39x in Q1 2024, indicating improving earnings efficiency.
Recent Price Movement
Analyst Consensus
Recent analyst coverage shows mixed but generally positive sentiment. Scotiabank raised their price target to $105 with an Outperform rating, suggesting an 18.97% upside potential. Jefferies maintains a Hold rating with an $88 target, indicating more modest upside of 7.98%.
Market Performance
The stock is currently trading at $100.24, which has exceeded some analyst targets but remains below others' more bullish projections. The stock has shown strong momentum, appreciating by 15.21% over the past month.
Conclusion
While AEM's P/E ratio appears elevated, other valuation metrics like EV/EBITDA are more reasonable for a gold mining company. The declining P/E trend and strong analyst support suggest the stock is fairly valued rather than overvalued at current levels.