Agnico Eagle Mines Ltd. (AEM), the second largest gold miner globally, faces downgrades to its 2026 earnings estimates as gold prices decline. After reaching an all-time high of $5,589 per ounce on January 28, 2026, gold has recently decreased to around $4,000 per ounce. Consequently, the second quarter earnings consensus has fallen from $3.16 to $2.98 in just 60 days, with overall 2026 estimates decreasing from $13.20 to $12.09.
Headquartered in Toronto, Canada, Agnico Eagle, which operates mines across Canada, Australia, Finland, and Mexico, reported a year-over-year earnings growth of 46%, up from $8.28 last year. The company will announce its Q2 2026 results on July 29, 2026. Despite the revenue outlook challenges, Agnico Eagle is trading at a forward P/E ratio of 11.7 and offers a dividend yield of 1.3%, reflecting its long-standing commitment to shareholders.
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