AEM vs. LUG.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Agnico Eagle Mines Limited (AEM) and Lundin Gold Inc. (LUG.TO).

Performance

AEM vs. LUG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Agnico Eagle Mines Limited (AEM) and Lundin Gold Inc. (LUG.TO). The values are adjusted to include any dividend payments, if applicable.

AEM vs. LUG.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AEM Agnico Eagle Mines Limited	19.95%	119.53%	46.04%	8.98%	1.08%	-22.81%	17.39%	54.18%	-11.51%	10.92%
LUG.TO Lundin Gold Inc.	-6.72%	310.07%	76.47%	32.52%	21.88%	-3.96%	33.84%	75.27%	1.60%	-7.93%

Different Trading Currencies

AEM is traded in USD, while LUG.TO is traded in CAD. To make them comparable, the LUG.TO values have been converted to USD using the latest available exchange rates.

Fundamentals

Market Cap AEM : $102.04B LUG.TO : CA$25.81B
EPS AEM : $8.83 LUG.TO : CA$3.28
PE Ratio AEM : 22.98 LUG.TO : 32.41
PEG Ratio AEM : 0.36 LUG.TO : 0.43
PS Ratio AEM : 8.61 LUG.TO : 14.40
PB Ratio AEM : 4.12 LUG.TO : 18.95
Total Revenue (TTM) AEM : $11.87B LUG.TO : CA$1.79B
Gross Profit (TTM) AEM : $6.80B LUG.TO : CA$1.26B
EBITDA (TTM) AEM : $8.35B LUG.TO : CA$1.25B

Returns By Period

In the year-to-date period, AEM achieves a 19.95% return, which is significantly higher than LUG.TO's -6.72% return. Over the past 10 years, AEM has underperformed LUG.TO with an annualized return of 20.98%, while LUG.TO has yielded a comparatively higher 37.74% annualized return.

AEM

• 1D: 5.80%
• 1M: -19.18%
• YTD: 19.95%
• 6M: 20.91%
• 1Y: 89.16%
• 3Y*: 61.82%
• 5Y*: 30.88%
• 10Y*: 20.98%

LUG.TO

• 1D: 7.32%
• 1M: -17.76%
• YTD: -6.72%
• 6M: 20.85%
• 1Y: 160.40%
• 3Y*: 94.92%
• 5Y*: 60.97%
• 10Y*: 37.74%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

AEM vs. LUG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AEM

AEM Risk / Return Rank: 88
AEM Sharpe Ratio Rank: 91
AEM Sortino Ratio Rank: 85
AEM Omega Ratio Rank: 86
AEM Calmar Ratio Rank: 87
AEM Martin Ratio Rank: 91

LUG.TO

LUG.TO Risk / Return Rank: 93
LUG.TO Sharpe Ratio Rank: 95
LUG.TO Sortino Ratio Rank: 89
LUG.TO Omega Ratio Rank: 90
LUG.TO Calmar Ratio Rank: 96
LUG.TO Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AEM vs. LUG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Agnico Eagle Mines Limited (AEM) and Lundin Gold Inc. (LUG.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AEM	LUG.TO	Difference
Sharpe ratio Return per unit of total volatility	2.04	2.65	-0.62
Sortino ratio Return per unit of downside risk	2.33	2.71	-0.38
Omega ratio Gain probability vs. loss probability	1.33	1.39	-0.05
Calmar ratio Return relative to maximum drawdown	3.14	6.26	-3.11
Martin ratio Return relative to average drawdown	10.90	18.43	-7.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AEM vs. LUG.TO - Sharpe Ratio Comparison

The current AEM Sharpe Ratio is 2.04, which is comparable to the LUG.TO Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of AEM and LUG.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AEM	LUG.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	2.65	-0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	1.28	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.83	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.38	-0.20

Correlation

The correlation between AEM and LUG.TO is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AEM vs. LUG.TO - Dividend Comparison

AEM's dividend yield for the trailing twelve months is around 0.81%, less than LUG.TO's 4.69% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEM Agnico Eagle Mines Limited	0.81%	0.94%	2.05%	2.92%	3.08%	2.63%	2.36%	0.89%	1.09%	0.89%	0.86%	1.22%
LUG.TO Lundin Gold Inc.	4.69%	3.37%	2.69%	3.28%	1.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

AEM vs. LUG.TO - Drawdown Comparison

The maximum AEM drawdown since its inception was -90.49%, which is greater than LUG.TO's maximum drawdown of -79.61%. Use the drawdown chart below to compare losses from any high point for AEM and LUG.TO.

Drawdown Indicators

	AEM	LUG.TO	Difference
Max Drawdown Largest peak-to-trough decline	-90.49%	-95.45%	+4.96%
Max Drawdown (1Y) Largest decline over 1 year	-28.97%	-25.33%	-3.64%
Max Drawdown (5Y) Largest decline over 5 years	-46.76%	-38.94%	-7.82%
Max Drawdown (10Y) Largest decline over 10 years	-53.86%	-41.84%	-12.02%
Current Drawdown Current decline from peak	-19.51%	-16.21%	-3.30%
Average Drawdown Average peak-to-trough decline	-46.76%	-65.23%	+18.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.35%	8.78%	-0.43%

Volatility

AEM vs. LUG.TO - Volatility Comparison

The current volatility for Agnico Eagle Mines Limited (AEM) is 16.46%, while Lundin Gold Inc. (LUG.TO) has a volatility of 20.87%. This indicates that AEM experiences smaller price fluctuations and is considered to be less risky than LUG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEM	LUG.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.46%	20.87%	-4.41%
Volatility (6M) Calculated over the trailing 6-month period	35.61%	44.75%	-9.14%
Volatility (1Y) Calculated over the trailing 1-year period	43.99%	60.82%	-16.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.39%	48.04%	-11.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.45%	45.61%	-8.16%

Financials

AEM vs. LUG.TO - Profitability Comparison

The chart below illustrates the profitability comparison between Agnico Eagle Mines Limited and Lundin Gold Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AEM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Agnico Eagle Mines Limited reported a gross profit of 2.20B and revenue of 3.56B. Therefore, the gross margin over that period was 61.7%.

LUG.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Lundin Gold Inc. reported a gross profit of 359.14M and revenue of 534.69M. Therefore, the gross margin over that period was 67.2%.

AEM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Agnico Eagle Mines Limited reported an operating income of 1.99B and revenue of 3.56B, resulting in an operating margin of 55.9%.

LUG.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Lundin Gold Inc. reported an operating income of 334.43M and revenue of 534.69M, resulting in an operating margin of 62.6%.

AEM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Agnico Eagle Mines Limited reported a net income of 1.52B and revenue of 3.56B, resulting in a net margin of 42.7%.

LUG.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Lundin Gold Inc. reported a net income of 237.81M and revenue of 534.69M, resulting in a net margin of 44.5%.