Agnico Eagle Mines (LTS:0R2J) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

LTS:0R2J Agnico Eagle Mines Ltd LTS:0R2J
93 GF Score
Price C$280.41
GF Value C$246.16
Valuation Modestly Overvalued
! 2 Warning Signs
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What is Agnico Eagle Mines Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Agnico Eagle Mines  (LTS:0R2J) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Agnico Eagle Mines Cyclically Adjusted PB Ratio Related Terms


Agnico Eagle Mines Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Agnico Eagle Mines's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Agnico Eagle Mines Cyclically Adjusted PB Ratio Chart

Agnico Eagle Mines Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.41 2.20 2.02 2.83 5.29

Agnico Eagle Mines Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.91 5.53 5.38 6.29 4.74

LTS:0R2J vs NEM, AU, RGLD: Cyclically Adjusted PB Ratio Comparison

For the Gold subindustry, Agnico Eagle Mines's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Agnico Eagle Mines Cyclically Adjusted PB Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Agnico Eagle Mines's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Agnico Eagle Mines's Cyclically Adjusted PB Ratio falls into.


LTS:0R2J
93GF Score
Agnico Eagle Mines Ltd LTS:0R2J
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Agnico Eagle Mines Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Agnico Eagle Mines's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Agnico Eagle Mines's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=80.143/133.5265*133.5265
=80.143

Current CPI (Jun. 2026) = 133.5265.

Agnico Eagle Mines Quarterly Data

Book Value per Share CPI Adj_Book
201609 26.084 101.765 34.225
201612 26.780 101.449 35.248
201703 27.682 102.634 36.014
201706 27.243 103.029 35.307
201709 26.557 103.345 34.313
201712 26.688 103.345 34.482
201803 27.398 105.004 34.840
201806 27.814 105.557 35.184
201809 27.354 105.636 34.576
201812 26.505 105.399 33.578
201903 25.987 106.979 32.436
201906 25.620 107.690 31.767
201909 26.491 107.611 32.871
201912 27.662 107.769 34.273
202003 29.853 107.927 36.934
202006 29.521 108.401 36.363
202009 30.226 108.164 37.313
202012 29.810 108.559 36.666
202103 29.422 110.298 35.618
202106 29.798 111.720 35.614
202109 30.565 112.905 36.148
202112 30.988 113.774 36.368
202203 44.652 117.646 50.680
202206 46.051 120.806 50.900
202209 48.692 120.648 53.890
202212 48.210 120.964 53.217
202303 54.255 122.702 59.041
202306 53.354 124.203 57.359
202309 54.277 125.230 57.873
202312 51.500 125.072 54.981
202403 53.355 126.258 56.427
202406 54.737 127.522 57.314
202409 55.235 127.285 57.944
202412 59.717 127.364 62.607
202503 62.045 129.181 64.132
202506 61.232 129.892 62.945
202509 65.150 130.287 66.770
202512 67.825 130.366 69.469
202603 73.422 132.262 74.124
202606 80.143 133.527 80.143

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Agnico Eagle Mines (LTS:0R2J) Overvalued in 2026?

Based on GuruFocus' analysis, Agnico Eagle Mines stock appears to be overvalued. The current stock price of C$280.41 is trading 13.9% above its estimated GF Value™ of C$246.16. GuruFocus considers Agnico Eagle Mines to be Modestly Overvalued.

Key valuation signals for LTS:0R2J:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: C$246.16 vs. price of C$280.41 (13.9% above fair value)
  • GF Score™: 93/100 with 2 warning signs

No single metric tells the full story. See the LTS:0R2J stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Agnico Eagle Mines Business Description

Address 145 King Street East, Suite 400, Toronto, ON, CAN, M5C 2Y7
Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It sold around 3.4 million gold ounces in 2025 and had about 15 years of gold reserves at end 2025. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.
93GF Score

Get the complete analysis for LTS:0R2J

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$280.41
Price
C$246.16
GF Value