Erste Upgrades Agnico Eagle Mines to Buy; Q4 EPS Beats, Shares Rally 128%
Erste Group upgraded Agnico Eagle Mines to Buy, citing rising gold demand from Fed rate cuts and geopolitical uncertainty. It posted Q4 EPS of $2.70 versus $2.62 and revenue of $3.56B versus $3.42B, with 2026 earnings forecast at $13.28 per share and shares up 128% over the past year.
1. Erste Group Upgrade
Erste Group raised its rating on Agnico Eagle Mines from Hold to Buy, noting that a combination of falling interest rates, ongoing central bank gold reserves purchases and geopolitical tensions will support higher gold prices and boost revenue and profit growth for the miner.
2. Q4 Financial Beat
In the fourth quarter, the company delivered EPS of $2.70, surpassing estimates of $2.62, and generated revenue of $3.56 billion versus $3.42 billion expected, marking a continued track record of quarterly earnings beats.
3. 2026 Earnings Forecast and Share Rally
Analysts forecast 2026 earnings of $13.28 per share, a 60.4% increase year over year, while the stock has surged approximately 128% over the past year on strong cash flow generation and confidence in key mining projects.