Agnico Eagle reported adjusted third-quarter EPS of C$2.61, slightly above the supplied calendar estimate of C$2.56. Revenue rose year over year, but production results varied across its mines.
Agnico Eagle Mines Limited (TSX: AEM) reported results for the quarter ended September 30, 2026, after markets closed on October 28. The calendar estimate puts adjusted EPS at C$2.61, a 1.95% beat. Revenue was US$3.58 billion, up 17.1% from a year earlier and slightly above the Zacks consensus cited in company news. For Canadian investors, the earnings beat is only part of the story: gold production missed estimates at several operations, and mine revenue varied by region.
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Agnico Eagle Mines Limited
AEM.TO
AEM.TO
Agnico Eagle Mines Limited
WealthAwesomeMarket cap
$129.67B
P/E
15.8x
Div. yield
0.67%
Div. / share
$1.70
52W high
$347.31
52W low
$188.06
1W change
-2.69%
Beta
0.64
Analyst Price Targets
Based on analyst covering AEM · as of Oct 29, 2026
Wall Street analysts forecast AEM stock price to rise 15.7% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$296.21
+15.7% Upside
Previously C$297.79 on Oct 28, 2026
Current Price
C$256.08
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on AEM's historical volatility
30-Day Vol
42.9%
Annualized
90-Day Vol
46.8%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$306.15
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$271.79 | C$234.39 – C$315.15 |
| 60 trading days | C$288.45 | C$233.97 – C$355.62 |
| 90 trading days | C$306.15 | C$236.91 – C$395.62 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
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Analyst coverage: 12 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 4 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-10-28 | 2.6100 | 2.5600 | +2.0% |
| 2026-06-30 | 2026-07-29 | 3.0500 | 2.9100 | +4.8% |
| 2026-03-31 | 2026-04-30 | 3.4000 | 3.2100 | +5.9% |
| 2025-12-31 | 2026-02-12 | 2.7000 | 2.6500 | +1.9% |
| 2025-09-30 | 2025-10-29 | 2.1600 | 1.9600 | +10.2% |
| 2025-06-30 | 2025-07-30 | 1.9400 | 1.8000 | +7.8% |
Investor takeaway: AEM has beaten EPS estimates in each of the past four comparable quarters, though this quarter’s beat was modest using the supplied calendar data. Revenue growth is a positive, but production shortfalls and mixed mine-level results deserve attention. The next-quarter EPS consensus has also fallen over the past month, making expectations and operating performance important to watch.
C$2.61 adjusted EPS versus C$2.56 expected
That’s a 1.95% beat based on the supplied earnings-calendar figures. Company news cites a separate Zacks consensus of US$2.47, which implies a 5.67% beat. Estimates vary by source and method, so these figures aren’t directly comparable.
Bull case
Revenue reached US$3.58 billion, up 17.1% year over year, while adjusted EPS rose from US$2.16 to C$2.61. AEM has beaten EPS estimates for four consecutive quarters. Mine-operation revenue was above estimates in Quebec overall and Ontario, and LaRonde revenue rose 82.5% year over year. The supplied fundamentals snapshot also shows a 40.44% profit margin.
Bear case
Payable gold production totaled 814,012 ounces, below the 855,022-ounce average estimate cited in company news. LaRonde and Canadian Malartic production also missed estimates, while Nunavut mine revenue came in below expectations. The next-quarter EPS consensus fell from C$3.58 to C$2.92 over 30 days, with three downward revisions and none upward. AEM’s last close of C$256.08 was below its 50-day and 200-day moving averages.
Analysis
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For the quarter ended September 30, AEM reported adjusted EPS of C$2.61, compared with the supplied calendar estimate of C$2.56, a 1.95% beat. Company news cites a different Zacks consensus of US$2.47, which implies a 5.67% beat. Since the sources use different estimates, this article uses the calendar figure for its headline comparison. Adjusted EPS was US$2.16 a year earlier.
Revenue was US$3.58 billion, up 17.1% year over year and 0.89% above the US$3.55 billion Zacks estimate cited in company news. AEM has beaten estimates in each of its past four reported quarters. The automatically inserted earnings trend table and chart show the quarter-by-quarter results. For more company details, see the Agnico Eagle stock page.
Analysis
Revenue growth didn’t mean stronger results across every operation. Payable gold production was 814,012 ounces, below the 855,022-ounce average estimate cited in company news. LaRonde produced 77,250 ounces, compared with an estimate of 108,855, while Canadian Malartic produced 111,202 ounces against 123,974. Goldex was a bright spot, producing 29,940 ounces versus an estimate of 29,141.
Mine-operation revenue also varied. Quebec revenue was US$1.03 billion, above the US$996 million estimate, and Ontario revenue was US$1.16 billion, above the US$1.09 billion estimate. Nunavut revenue was US$848.35 million, below its US$972.6 million estimate. LaRonde revenue rose 82.5% year over year, while Canadian Malartic revenue fell 10.8%. These differences provide important context for the earnings beat.
Analysis
The supplied analyst-target data shows an average target of C$296.21, 15.7% above AEM’s last close of C$256.08. The rating label compares the average target with the last close; a formal rating isn’t available for Canadian listings. See the analyst-target details.
The supplied next-quarter EPS consensus is C$2.92, down from C$3.58 30 days ago. Analysts made three downward revisions and none upward, tempering the positive quarterly result. AEM’s last close was also below its 50-day average of C$272.21 and its 200-day average of C$263.27.
Wealth Awesome’s statistical 90-day model gives a mean forecast of C$306.15. Its 68% range is C$236.91 to C$395.62, and its 95% range is C$183.33 to C$511.24. This is a statistical model, not financial advice or a price target. View the forecast details.
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