Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-07-06), the stock price of Agnico Eagle Mines is CHF124.94. Agnico Eagle Mines's graham number for the quarter that ended in Mar. 2026 was CHFN/A. Therefore, Agnico Eagle Mines's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for Agnico Eagle Mines's Graham Number or its related term are showing as below:
XSWX:AEM'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.11 Med: 1.92 Max: 7.83
Current: 2.57
During the past 13 years, the highest Price to Graham Number ratio of Agnico Eagle Mines was 7.83. The lowest was 1.11. And the median was 1.92.
XSWX:AEM's Price-to-Graham-Number is ranked worse than 61.58% of 609
companies
in the Metals & Mining industry
Industry Median: 1.31
vs XSWX:AEM: 2.57
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Agnico Eagle Mines (XSWX:AEM) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Agnico Eagle Mines's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
124.94
/
N/A
=
N/A
* 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.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Agnico Eagle Mines Graham Number Related Terms
Agnico Eagle Mines Graham Number Historical Data
* Premium members only.
The historical data trend for Agnico Eagle Mines's Graham Number 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.
XSWX:AEM vs NEM, AU, RGLD: Graham Number Comparison
For the Gold subindustry, Agnico Eagle Mines's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number 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 Price-to-Graham-Number vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Agnico Eagle Mines's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Agnico Eagle Mines's Price-to-Graham-Number falls into.
* 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 (XSWX:AEM) has a Graham Number of CHFN/A as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Agnico Eagle Mines and its competitors. Over the past decade, Agnico Eagle Mines' Graham Number has ranged from 1.11 to 7.83. According to the industry distribution chart, Agnico Eagle Mines ranks #375 out of 609 companies in the Metals & Mining industry, placing it in the top 61.6%.
Is Agnico Eagle Mines' Graham Number too high?
Agnico Eagle Mines' current Graham Number is CHFN/A. Over the past 10 years, this metric has ranged from a low of 1.11 to a high of 7.83. Based on the distribution chart, Agnico Eagle Mines ranks #375 out of 609 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Agnico Eagle Mines has a GF Score™ of 97/100, reflecting its overall financial health beyond just this single metric.
How does Agnico Eagle Mines' Graham Number compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Agnico Eagle Mines ranks #375 out of 609 companies for Graham Number. This places Agnico Eagle Mines in the lower half of its industry. The industry median Graham Number is 1.31. Historically, Agnico Eagle Mines' own Graham Number has ranged from 1.11 to 7.83 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Metals & Mining company?
The median Graham Number among Metals & Mining companies is 1.31, based on 609 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Agnico Eagle Mines and its competitors. For the Metals & Mining industry, the median Graham Number is 1.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Agnico Eagle Mines's current Graham Number is CHFN/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Agnico Eagle Mines stock overvalued right now?
Agnico Eagle Mines (XSWX:AEM) has a current Graham Number of CHFN/A. The stock's GF Value™ is CHF65.60, compared to a current price of CHF124.94 — trading 90.5% above its estimated fair value. The current Graham Number is CHFN/A. Agnico Eagle Mines' overall GF Score™ is 97/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Agnico Eagle Mines (XSWX:AEM), the current Graham Number is CHFN/A as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Agnico Eagle Mines (XSWX:AEM) Overvalued in 2026?
Based on GuruFocus' analysis, Agnico Eagle Mines stock appears to be overvalued.
The current stock price of CHF124.94 is trading 90.5% above its estimated GF Value™ of CHF65.60.
Key valuation signals for XSWX:AEM:
Graham Number: CHFN/A
GF Value™: CHF65.60 vs. price of CHF124.94 (90.5% above fair value)
No single metric tells the full story. See the XSWX:AEM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
97GF Score
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