Agnico Eagle (AEM) shares jumped 10% with no company news, alongside Wheaton Precious Metals (WPM), Newmont (NEM) and Barrick Mining (B), as gold rose 3% after Democrats won the midterm elections. Wheaton owns no mines, so it does not bear rising costs, and gained 12%. Agnico's all-in sustaining costs (AISC) rose 24% year on year to $1,648 an ounce in the third quarter, which management blamed on diesel and tariffs. A 3% gold rise lifts its margin per ounce by about 5%, half the stock's gain. Newmont's AISC was $1,454 an ounce, and it lowered full-year AISC guidance to $1,520. Agnico's forward P/E was about 16x after the move, versus 14.8x before it and a five-year average of 20.5x.
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Related tickers and likely impact
XAU/USD
▲ Likely positiveRelevance: high
| Market | Gold |
|---|---|
| Close on 11/03/2026 | 3,930.22 |
| Change that session | -0.42% |
PAXG/USDT
▲ Likely positivePAX Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.7B |
| Close on 11/03/2026 | 3,946.40 |
| Change that session | -0.16% |
XAUT/USDT
▲ Likely positiveTether Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.1B |
| Close on 11/03/2026 | 3,934.56 |
| Change that session | -0.11% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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