Agnico Eagle Mines slips as investors weigh mixed guidance after Q3 results

Agnico Eagle Mines (AEM) is down 3.6% today. Here is some analysis on what might have caused this price movement.

Analysis: The decline appears tied to a mixed read on the company’s third-quarter report: strong profit and cash flow were offset by lower year-over-year production, sharply higher costs, and guidance that kept full-year output near the low end of range while costs are expected near the high end. Weakness in gold prices on Thursday likely added pressure to sentiment across large-cap miners. ([agnicoeagle.com](https://www.agnicoeagle.com/English/news-and-media/news-releases/news-details/2026/AGNICO-EAGLE-REPORTS-THIRD-QUARTER-2026-RESULTS---STRONG-FREE-CASH-FLOW-GENERATION-DRIVEN-BY-SOLID-OPERATIONAL-PERFORMANCE-ON-TRACK-TO-ACHIEVE-2026-PRODUCTION-AND-COST-GUIDANCE/default.aspx))

Details:

The company reported third-quarter payable gold production of 814,012 ounces, down from 866,936 ounces a year earlier. ([agnicoeagle.com](https://www.agnicoeagle.com/English/news-and-media/news-releases/news-details/2026/AGNICO-EAGLE-REPORTS-THIRD-QUARTER-2026-RESULTS---STRONG-FREE-CASH-FLOW-GENERATION-DRIVEN-BY-SOLID-OPERATIONAL-PERFORMANCE-ON-TRACK-TO-ACHIEVE-2026-PRODUCTION-AND-COST-GUIDANCE/default.aspx))

Quarterly production costs rose to $1,193 per ounce, while all-in sustaining costs climbed to $1,648 per ounce, both above the prior-year period. ([agnicoeagle.com](https://www.agnicoeagle.com/English/news-and-media/news-releases/news-details/2026/AGNICO-EAGLE-REPORTS-THIRD-QUARTER-2026-RESULTS---STRONG-FREE-CASH-FLOW-GENERATION-DRIVEN-BY-SOLID-OPERATIONAL-PERFORMANCE-ON-TRACK-TO-ACHIEVE-2026-PRODUCTION-AND-COST-GUIDANCE/default.aspx))

For 2026, Agnico Eagle said production should land near the lower end of its 3.3 million to 3.5 million ounce guidance range, while total cash costs and all-in sustaining costs are expected near the upper end because of the adjusted Barnat mine plan and input cost pressure, especially diesel. ([agnicoeagle.com](https://www.agnicoeagle.com/English/news-and-media/news-releases/news-details/2026/AGNICO-EAGLE-REPORTS-THIRD-QUARTER-2026-RESULTS---STRONG-FREE-CASH-FLOW-GENERATION-DRIVEN-BY-SOLID-OPERATIONAL-PERFORMANCE-ON-TRACK-TO-ACHIEVE-2026-PRODUCTION-AND-COST-GUIDANCE/default.aspx))

Spot gold moved lower on October 29 as markets digested the Fed outlook and awaited inflation data, which could have weighed on gold equities even after the earnings release. ([brecorder.com](https://www.brecorder.com/news/40446473/?utm_source=openai))

Sources:

Agnico Eagle Mines, Reuters, Google Finance ([agnicoeagle.com](https://www.agnicoeagle.com/English/news-and-media/news-releases/news-details/2026/AGNICO-EAGLE-REPORTS-THIRD-QUARTER-2026-RESULTS---STRONG-FREE-CASH-FLOW-GENERATION-DRIVEN-BY-SOLID-OPERATIONAL-PERFORMANCE-ON-TRACK-TO-ACHIEVE-2026-PRODUCTION-AND-COST-GUIDANCE/default.aspx))

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

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$AEM Hedge Fund Activity

We have seen 468 institutional investors add shares of $AEM stock to their portfolio, and 546 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FMR LLC removed 5,688,766 shares (-29.1%) from their portfolio in Q2 2026, for an estimated $882,498,269
FIL LTD removed 4,961,075 shares (-39.3%) from their portfolio in Q2 2026, for an estimated $769,611,564
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 4,669,228 shares (-69.2%) from their portfolio in Q2 2026, for an estimated $724,337,339
TD ASSET MANAGEMENT INC removed 3,179,866 shares (-32.6%) from their portfolio in Q2 2026, for an estimated $493,292,612
JPMORGAN CHASE & CO added 2,797,145 shares (+inf%) to their portfolio in Q2 2026, for an estimated $433,921,103
CAPITAL WORLD INVESTORS removed 1,901,533 shares (-8.8%) from their portfolio in Q2 2026, for an estimated $294,984,814
ARGA INVESTMENT MANAGEMENT, LP added 1,568,225 shares (+inf%) to their portfolio in Q2 2026, for an estimated $243,278,744

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$AEM Price Targets

Multiple analysts have issued price targets for $AEM recently. We have seen 7 analysts offer price targets for $AEM in the last 6 months, with a median target of $210.0.

Here are some recent targets:

Lawson Winder from B of A Securities set a target price of $240.0 on 07/09/2026
Josh Wolfson from RBC Capital set a target price of $210.0 on 07/09/2026
Fahad Tariq from Jefferies set a target price of $200.0 on 07/06/2026
Richard Garchitorena from Barclays set a target price of $210.0 on 07/06/2026
Daniel Major from UBS set a target price of $170.0 on 06/30/2026
Anita Soni from CIBC set a target price of $310.0 on 05/26/2026
Bennett Moore from JP Morgan set a target price of $302.0 on 05/05/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.