Freedom Broker downgraded Agnico Eagle Mines, citing operational risks at Canadian Malartic and Odyssey and trimmed earnings and EBITDA projections after revenue came in slightly below estimates. The broker noted the stock trades at a premium to peers, so any execution issues or cost inflation could weigh more heavily on profit expectations. The company, with long-life gold assets in Canada, Australia, Finland and Mexico, reports a return on equity of 20.5% and a net profit margin of 40.4%. Forecasts now point to declining earnings and revenue over the next three years, and the shares have fallen about 6% over one day and roughly 13% over the past month ahead of the October 28 earnings release. Some pessimistic analysts see revenue falling toward US$10.2b and earnings toward roughly US$4.8b by 2029, though those forecasts predate the downgrade.
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