Agnico Eagle Mines beats Q2 targets, shares seen undervalued with 34% upside potential.

Agnico Eagle Mines reported strong Q2 2026 results, including $3.07 non-GAAP EPS, $3.8 billion in revenue, $1.335 billion free cash flow, and $400 million in share buybacks, exceeding capital return goals. The company projects gold output of 3.3–3.5 million ounces by 2026 and aims for 20–30% growth over the next decade while advancing five pipeline projects. Its shares are considered fundamentally undervalued with a potential 34% upside to $240 per share based on a 20x price-to-earnings ratio on normalized earnings. Key risks include fluctuations in gold prices, energy costs, and regulatory changes.