AGNICO EAGLE MINES (AEM) Company Report

Azimut Exploration Inc. announced significant exploration progress at its Wabamisk East Property in Quebec, further defining a high-grade, multi-kilometre-scale spodumene pegmatite field.
The 2025 field program identified at least 138 distinct spodumene-bearing outcrops, with 340 channel and grab samples yielding an average grade of 1.94% Li2O.
From the 1-meter channel samples collected this field season, 205 samples returned grades higher than 0.5% Li2O, with an average grade of 1.66% Li2O, and 60 samples exceeded 2.0% Li2O, reaching a maximum of 5.63% Li2O.
Initial diamond drilling confirmed the down-dip extension of mineralized outcrops, and the pegmatite field remains open, indicating potential for additional discoveries within a minimum 4-km2 prospective surface area.
Rio Tinto Exploration Canada Inc., which funded the recent work, intends to terminate its Option to Joint Venture Agreement on the property as of December 31, 2025.

1 day ago

Press Release

First Nordic and Mawson Complete Merger, Form Goldsky Resources Corp.

AEM

M&A

New Projects/Investments

Management Change

First Nordic Metals Corp. successfully completed its acquisition of Mawson Finland Limited on December 16, 2025, and will change its name to Goldsky Resources Corp..
The transaction consolidates a significant gold development and exploration portfolio in Sweden and Finland, creating a leading Nordic entity with a combined 2.0 Moz AuEq in Inferred and 0.3 Moz AuEq in Indicated attributable resource categories.
The combined entity is well-capitalized, holding approximately C$86 million in cash before transaction costs, following C$80 million in aggregate gross proceeds from concurrent offerings.
Post-merger, the company has approximately 176,650,889 Company Shares issued and outstanding.
The management and board have been enhanced, with Peter Breese appointed as Incoming Chairman and Russell Bradford as the new CEO.

Dec 16, 2025, 4:50 PM

Press Release

Emerging Growth Conference 88 Highlights

AEM

New Projects/Investments

M&A

Share Buyback

Agnico Eagle Mines (AEM), the second largest gold producer globally, reported a net cash position of $2.2 billion at the end of September, expected to reach $3 billion by year-end 2025. The company plans to return approximately $800 million in dividends and $500 million through share buybacks for the full year 2025.
AEM is advancing five key projects, including Detour Lake, Canadian Malartic, Upper Beaver, Hope Bay, and San Nicolas, which are projected to add 1.3-1.5 million ounces of annual production in the next 5-8 years and increase production per share by approximately 20%. The company maintains low all-in sustaining costs of close to $300 per ounce.
Highland Copper Company is progressing its Copperwood project in Michigan, which has an initial mine life of 11 years producing 30,000 tons of copper annually. The company expects to make a construction decision in H2 2026 and begin construction in 2027.
Vox Royalty Corp, a precious metals royalty and streaming company, highlighted its capital-light business model and diversified portfolio of over 80 assets. A recent acquisition of 10 assets, generating approximately $16 million in revenue, is expected to support potential inclusion in the GDXJ Gold Index in March 2026.

Dec 11, 2025, 2:05 PM

Transcript

Highland Copper Advances Copperwood Project Towards 2026 Construction Decision

AEM

New Projects/Investments

Debt Issuance

M&A

Highland Copper's Copperwood project is highly advanced, with a feasibility study complete and all permits in hand, targeting a construction decision in 2026 and production in 2029.
The company recently sold its one-third interest in the White Pine North project for $30 million, which is expected to result in no debt and approximately $26 million pro forma cash to fund Copperwood through 2026 and into 2027.
Project economics are robust, with an NPV of $507 million and an IRR of 33% at a $5 copper price, and the company has secured a letter of interest from EXIM for $250 million in project financing.
Operational optimizations include the incorporation of Jameson cell technology, increasing copper recoveries by about two percentage points, and exploring a drift and fill mining methodology for potential 90%-95% mine recoveries.
The shareholder structure has been strengthened with the exit of a 16% shareholder (Greenstone) and the entry of six new institutional shareholders.

Dec 11, 2025, 2:05 PM

Transcript

Emerging Growth Conference 88 Highlights Mining Company Updates

AEM

New Projects/Investments

Dividends

Share Buyback

Agnico Eagle Mines (AEM) reported a strong financial position with a net cash position of $2.2 billion at the end of September, projected to reach $3 billion by year-end, and plans to increase production by approximately 20% over the next five to eight years.
AEM also highlighted significant capital returns, including $600 million in dividends year-to-date (projected $800 million for the full year) and $500 million in share buybacks for the year.
Highland Copper Company (HDRSF) is targeting a construction decision for its Copperwood project in 2026 and production in 2029, having completed its feasibility study and secured all necessary permits. The company also achieved a zero debt and $25 million cash position after the White Pine transaction.
Vox Royalty Corp (VOXR) reported a portfolio with 80% weighting in precious metals and 70% of its assets in Australia, with 14 assets currently producing and an expected increase to 22 producing assets over the next 2-3 years.

Dec 11, 2025, 2:05 PM

Transcript

Agnico Eagle Reports Record Q3 2025 Adjusted Net Income and Reiterates Full-Year Guidance

AEM

Earnings

Guidance Update

Share Buyback

Agnico Eagle reported record adjusted net income of $1,085 million or $2.16 per share for the third quarter of 2025.
The company's financial position strengthened, with net cash increasing to $2,159 million as of September 30, 2025, following a $400 million reduction in long-term debt and an increase in cash to $2,355 million.
For Q3 2025, payable gold production was 866,936 ounces at total cash costs of $994 per ounce and all-in sustaining costs (AISC) of $1,373 per ounce, with an average realized gold price of $3,476 per ounce.
Agnico Eagle reiterated its full-year 2025 guidance for payable gold production of 3.3 to 3.5 million ounces, and expects total cash costs and AISC to trend towards the top end of their respective guidance ranges of $915 to $965 and $1,250 to $1,300.
The company declared a quarterly dividend of $0.40 per share and repurchased 1,005,577 common shares for $150 million during the quarter.

Oct 31, 2025, 2:26 PM

6-K

Agnico Eagle Mines Ltd. Reports Record Q3 2025 Financial Results and Strengthens Balance Sheet

AEM

Earnings

Guidance Update

Share Buyback

Agnico Eagle Mines Ltd. reported record financial results for Q3 2025, including $3.1 billion in revenue, $1.1 billion in adjusted earnings ($2.16 per share), and $2.1 billion in adjusted EBITDA.
Gold production for the quarter was 867,000 ounces at an average realized price of $3,476 per ounce, with reported cash costs of $994 per ounce. The company is confident in achieving the midpoint of its full-year production guidance of 3.4 million ounces.
The company strengthened its balance sheet by repaying $400 million of debt and increasing its net cash position to $2.2 billion. Moody's also upgraded its credit rating from Baa1 to A3 with a stable outlook.
Agnico Eagle returned $350 million to shareholders through dividends and share repurchases in Q3 2025, bringing year-to-date returns to $900 million.

Oct 30, 2025, 3:00 PM

Transcript

Agnico Eagle Mines Reports Record Q3 2025 Financial Results and Strong Operational Performance

AEM

Earnings

Guidance Update

New Projects/Investments

Agnico Eagle Mines reported record financial results for Q3 2025, with revenue of $3.1 billion, adjusted earnings of $1.1 billion (or $2.16 per share), and adjusted EBITDA of $2.1 billion.
The company achieved strong gold production of 867,000 oz in Q3 2025, putting it at 77% of its full-year guidance, and anticipates meeting the midpoint of its 3.4 million oz full-year production guidance.
AEM significantly strengthened its balance sheet by repaying $400 million of debt and increasing its net cash position to $2.2 billion, while also returning $350 million to shareholders through dividends and share repurchases.
The company is actively investing in its project pipeline and exploration, completing over 1 million meters of drilling year-to-date and expecting net growth in reserves/resources by quarter or half a million ounces year-over-year.

Oct 30, 2025, 3:00 PM

Transcript

Agnico Eagle Mines Reports Record Q3 2025 Financial Results and Strengthens Balance Sheet

AEM

Earnings

Guidance Update

New Projects/Investments

Agnico Eagle Mines Limited reported record Q3 2025 financial results, including $3.1 billion in revenue, $1.1 billion in adjusted earnings ($2.16 per share), and $2.1 billion in adjusted EBITDA.
The company produced approximately 867,000 ounces of gold in Q3 2025, maintaining confidence in achieving the midpoint of its full-year production guidance of 3.4 million ounces, with total cash costs at $9.94 per ounce and all-in sustaining costs at $13.73 per ounce.
AEM significantly strengthened its balance sheet, generating $1.2 billion in free cash flow, increasing its net cash position to $2.2 billion, and repaying $750 million in debt during the quarter.
The company's credit rating was upgraded to A3 by Moody's, and it returned approximately $350 million to shareholders in Q3 2025 through dividends and share buybacks.

Oct 30, 2025, 3:00 PM

Transcript

Agnico Eagle Mines Reports Strong Q3 2025 Financial Results

AEM

Earnings

Share Buyback

Agnico Eagle Mines Limited reported a significant increase in net income to $1,055.0 million, or $2.10 per share, in the third quarter of 2025, and adjusted net income of $1,085.2 million, or $2.16 per share.
Revenues from mining operations rose to $3,059.5 million in Q3 2025 , contributing to a 9-month total of $8,343.9 million, primarily driven by a 40.2% increase in realized gold prices.
The company's cash and cash equivalents grew to $2,354.8 million as of September 30, 2025, from $926.4 million at December 31, 2024. This was supported by $402.7 million in net proceeds from the sale of equity securities and an upgrade in Moody's long-term issuer rating to A3 from Baa1 in August 2025.
Under its renewed Normal Course Issuer Bid, Agnico Eagle repurchased 1,005,577 common shares for $149.9 million at an average price of $149.02 during Q3 2025.