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AEM vs KGC
AEM vs KGC Stock Comparison: Earnings Recap After Strong Q4 Reports
Key Takeaways
- AEM reported Q4 2025 adjusted EPS of $2.69, beating estimates of $2.56, with revenue of $3.56 billion up 60% year-over-year on 841,000 ounces produced.
- KGC delivered Q4 2025 adjusted EPS of $0.67, surpassing estimates of $0.55, with revenue of $2.02 billion up 43% year-over-year and 484,000 gold equivalent ounces.
- Both achieved full-year production guidance: AEM at 3.45 million ounces, KGC at 2.0 million gold equivalent ounces, fueled by elevated gold prices.
- AEM generated record annual free cash flow of $4.4 billion; KGC reported strong margins of $2,847 per ounce in Q4.
- AEM raised its dividend 12.5% to $0.45 per share; KGC increased its annual dividend by 14%.
- AEM guides 3.3-3.5 million ounces in 2026 at AISC $1,400-$1,550; KGC maintains 2.0 million ounces outlook.
Earnings Context and Why This Comparison Matters
Agnico Eagle Mines (AEM) and Kinross Gold (KGC) are leading gold producers benefiting from sustained high gold prices amid economic uncertainty. Both released Q4 2025 results on February 12 and February 18, respectively, showcasing operational resilience and leverage to gold's rally. AEM focuses on low-risk jurisdictions like Canada, Finland, and Australia, while KGC operates a diversified portfolio across the Americas and West Africa. This comparison highlights their earnings execution, cost discipline, and growth potential in a favorable gold market.
Kinross Gold (KGC) Focus
Kinross Gold reported Q4 2025 adjusted net earnings of $809 million or $0.67 per share, exceeding consensus estimates of $0.55, driven by higher realized gold prices and solid production. Revenue reached $2.02 billion, up 43% from the prior year, beating expectations by 8%. Gold equivalent production totaled 483,582 ounces, slightly below the year-ago quarter but within full-year guidance of 2.0 million ounces. Margins expanded to $2,847 per gold equivalent ounce sold. Full-year adjusted earnings hit $1.84 per share, with record free cash flow supporting debt reduction and shareholder returns. The company increased its annual dividend by 14% and reaffirmed a multi-year production outlook of 2.0 million ounces, emphasizing projects like Tasiast and Great Bear.
Agnico Eagle Mines (AEM) Context
Agnico Eagle Mines delivered Q4 2025 adjusted earnings of $2.70 per share, topping estimates of $2.56-$2.62, with revenue of $3.56 billion surging 60% year-over-year on a realized gold price of $4,163 per ounce. Payable gold production was 840,608 ounces, contributing to full-year output of 3.45 million ounces that met guidance. All-in sustaining costs (AISC) stood at $1,517 per ounce for the quarter and $1,339 annually. Record free cash flow of $1.31 billion in Q4 and $4.4 billion for the year underpinned $1.4 billion in shareholder returns, including a 12.5% dividend hike to $0.45 per share. For 2026, AEM guides production at 3.3-3.5 million ounces with AISC of $1,400-$1,550, supported by expansions at Detour Lake and Canadian Malartic.
Head-to-Head Earnings and Market Comparison
AEM demonstrates superior scale with nearly double KGC's annual production and higher absolute free cash flow, reflected in its $110 billion market cap versus KGC's $42 billion. Trailing P/E ratios are similar at 25x, but AEM's forward P/E of 17x edges KGC's 16x, signaling confidence in sustained growth. AEM's net cash position contrasts KGC's debt management focus, lowering risk exposure. Growth drivers include AEM's tier-1 assets in stable regions versus KGC's higher-margin Tasiast mine and exploration upside. Both face cost inflation from royalties and labor, but AEM's AISC remains competitive. Market sentiment favors AEM for quality and dividends (0.82% yield), while KGC offers value leverage to gold prices.
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Tickeron AI Verdict
Tickeron AI favors AEM with 65% probability over the next 12 months, citing superior earnings quality, production stability, lower geopolitical risk, and robust free cash flow generation positioning it for outperformance in a high-gold-price environment.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is AEM is a Buy and KGC is a StrongBuy.
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is undervalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
AEM’s FA Score shows that 1 FA rating(s) are green whileKGC’s FA Score has 3 green FA rating(s).
- AEM’s FA Score: 1 green, 4 red.
- KGC’s FA Score: 3 green, 2 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
AEM’s TA Score shows that 6 TA indicator(s) are bullish while KGC’s TA Score has 6 bullish TA indicator(s).
- AEM’s TA Score: 6 bullish, 4 bearish.
- KGC’s TA Score: 6 bullish, 4 bearish.
Price Growth
AEM (@Precious Metals) experienced а +4.90% price change this week, while KGC (@Precious Metals) price change was +7.17% for the same time period.
The average weekly price growth across all stocks in the @Precious Metals industry was +3.54%. For the same industry, the average monthly price growth was -1.50%, and the average quarterly price growth was +77.54%.
Reported Earning Dates
AEM is expected to report earnings on Apr 30, 2026.
KGC is expected to report earnings on Apr 29, 2026.
Industries' Descriptions
@Precious Metals (+3.54% weekly)The Precious Metals industry is engaged in exploring/mining metals that are considered to be rare and/or have a high economic value. Popular precious metals include gold, platinum and silver - all three of which are largely used in jewelry, art and coinage alongwith having some industrial uses as well. Precious metals used in industrial processes include iridium, (used in specialty alloys), and palladium ( used in electronics and chemical applications). Historically, precious metals have traded at much higher prices than common industrial metals. Newmont Goldcorp Corp, Barrick Gold Corp and Freeport-McMoRan are few of the major precious metals producing companies in the U.S.
| AEM | KGC | AEM / KGC | |
| Capitalization | 109B | 40.5B | 269% |
| EBITDA | 8.38B | 4.38B | 191% |
| Gain YTD | 29.264 | 20.068 | 146% |
| P/E Ratio | 24.69 | 17.32 | 143% |
| Revenue | 11.9B | 7.05B | 169% |
| Total Cash | 2.88B | 887M | 324% |
| Total Debt | 321M | 738M | 43% |
AEM | KGC | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 50 | 50 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 96 Overvalued | 20 Undervalued | |
PROFIT vs RISK RATING 1..100 | 20 | 18 | |
SMR RATING 1..100 | 44 | 30 | |
PRICE GROWTH RATING 1..100 | 41 | 39 | |
P/E GROWTH RATING 1..100 | 78 | 64 | |
SEASONALITY SCORE 1..100 | 50 | 50 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
KGC's Valuation (20) in the Precious Metals industry is significantly better than the same rating for AEM (96) in the null industry. This means that KGC’s stock grew significantly faster than AEM’s over the last 12 months.
KGC's Profit vs Risk Rating (18) in the Precious Metals industry is in the same range as AEM (20) in the null industry. This means that KGC’s stock grew similarly to AEM’s over the last 12 months.
KGC's SMR Rating (30) in the Precious Metals industry is in the same range as AEM (44) in the null industry. This means that KGC’s stock grew similarly to AEM’s over the last 12 months.
KGC's Price Growth Rating (39) in the Precious Metals industry is in the same range as AEM (41) in the null industry. This means that KGC’s stock grew similarly to AEM’s over the last 12 months.
KGC's P/E Growth Rating (64) in the Precious Metals industry is in the same range as AEM (78) in the null industry. This means that KGC’s stock grew similarly to AEM’s over the last 12 months.
| AEM | KGC | |
|---|---|---|
| RSI ODDS (%) | 4 days ago 76% | 4 days ago 86% |
| Stochastic ODDS (%) | 4 days ago 68% | 4 days ago 70% |
| Momentum ODDS (%) | 4 days ago 74% | 4 days ago 81% |
| MACD ODDS (%) | 4 days ago 75% | 4 days ago 81% |
| TrendWeek ODDS (%) | 4 days ago 75% | 4 days ago 81% |
| TrendMonth ODDS (%) | 4 days ago 60% | 4 days ago 80% |
| Advances ODDS (%) | 4 days ago 78% | 6 days ago 80% |
| Declines ODDS (%) | 8 days ago 69% | 8 days ago 66% |
| BollingerBands ODDS (%) | 4 days ago 60% | 4 days ago 83% |
| Aroon ODDS (%) | 4 days ago 66% | 4 days ago 65% |
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