AGNICO EAGLE MINES (AEM) Company Report

Analyst Coverage

Research analysts who have asked questions during AGNICO EAGLE MINES earnings calls.

Anita Soni

CIBC Capital Markets

6 questions for AEM

Also covers: BTG, CCJ, CGAU +8 more

John Tumazos

John Tumazos Very Independent Research

6 questions for AEM

Also covers: AA, ASM, CENX +13 more

Tanya Jakusconek

Scotiabank

6 questions for AEM

Also covers: AU, BVN, EGO +11 more

Fahad Tariq

Jefferies Financial Group

4 questions for AEM

Also covers: ERO, FNV, HBM +6 more

Joshua Wolfson

RBC Capital Markets

4 questions for AEM

Also covers: AU, FNV, GFI +7 more

Daniel Major

UBS

3 questions for AEM

Also covers: AA, FCX, FNV +5 more

Lawson Winder

Bank of America

3 questions for AEM

Also covers: AA, CCJ, CGAU +21 more

Ralph Profiti

8 Capital

2 questions for AEM

Also covers: BTG, CCJ, ERO +6 more

Michael Parkin

National Bank Financial

1 question for AEM

Also covers: AGI, CDE, CGAU +6 more

Latest news

Recent press releases and 8-K filings for AEM.

FireFly Metals Reports Significant Mineral Resource Growth and Strong Financial Position

AEM

New Projects/Investments

Equity Issuance

Board Change

FireFly Metals Ltd. announced a 51% increase in its Green Bay Mineral Resource to 50.4Mt @ 2.0% Copper Equivalent (CuEq) in Measured & Indicated (M&I) categories, significantly boosting contained copper and gold, which will underpin future economic studies.
The company successfully completed an ~A$139 million equity raising and a A$10 million Share Purchase Plan, substantially strengthening its financial position.
FireFly enters 2026 well-funded with ~A$250.9 million in cash and liquid investments as of December 31, 2025, to support its aggressive drilling program and advance project development.
A Preliminary Economic Assessment (PEA) is scheduled for completion in the June 2026 quarter, with a Feasibility Study expected by the end of the 2026 calendar year.

6 days ago

Press Release

Agnico Eagle Announces Barsele Project Agreement with Goldsky Resources Corp.

AEM

M&A

New Projects/Investments

Agnico Eagle Mines Limited (AEM), through its subsidiary Agnico Sweden AB, has entered into an agreement to sell its 55% interest in Gunnarn Mining AB, which holds the Barsele project, to Goldsky Resources Corp..
The consideration for this transaction includes US$20,000,000 in cash, the issuance of 75,509,577 common shares of Goldsky (valued at C$2.64 per share), and a 2% net smelter return royalty on the Barsele project to Agnico Sweden.
This agreement will increase Agnico Eagle's beneficial ownership in Goldsky Resources Corp. from approximately 4.1% to approximately 32.5% of the issued and outstanding common shares.
The transaction, which is part of Agnico Eagle's portfolio optimization efforts, is expected to close on or prior to June 30, 2026.

7 days ago

6-K

Agnico Eagle announces agreement with Goldsky Resources Corp. for Barsele project

AEM

M&A

New Projects/Investments

Agnico Eagle, through its subsidiary Agnico Sweden AB, has agreed to sell its 55% interest in Gunnarn Mining AB to Goldsky Resources Corp..
The consideration for Agnico Eagle includes US$20,000,000 in cash, 75,509,577 Goldsky common shares (valued at C$2.64 per share), and a 2% net smelter return royalty on the Barsele project.
Following the transaction, Agnico Eagle's beneficial ownership in Goldsky will increase from approximately 4.1% to 32.5% of issued and outstanding common shares.
The deal, expected to close by June 30, 2026, is part of Agnico Eagle's portfolio optimization strategy, allowing the Barsele project to be Goldsky's primary focus while Agnico Eagle retains exposure to future upside.

8 days ago

Press Release

Fury Gold Mines Reviews 2025 Achievements and Outlines 2026 Exploration Priorities

AEM

New Projects/Investments

Guidance Update

M&A

Fury Gold Mines Limited reported strong economics for its Eau Claire gold deposit, including an after-tax NPV5% of C$554 million and an after-tax IRR of 41% at a $2,400/ounce gold price, with projected total gold recovery of 834,000 ounces over 11 years at an all-in sustaining cost of $1,140/ounce.
The company published an initial inferred mineral resource estimate for the Sakami gold project in December 2025, identifying 825,000 ounces of gold from 23.9 million tonnes grading 1.07 grams per tonne.
Fury expanded its Québec exploration portfolio to over 157,000 hectares through the acquisition of Quebec Precious Metals (QPM) in April 2025, and strengthened its balance sheet by closing a C$18.0 million brokered flow-through financing and securing a C$4.3 million equity investment from Agnico Eagle Mines Limited.
For 2026, Fury has commenced a 10,000m winter drilling program at Eau Claire, with 6,600m drilled to date, and is finalizing plans for an up to 5,000m drill program at Committee Bay.

Jan 8, 2026, 11:59 AM

Press Release

Azimut Exploration Inc. Reports Significant Lithium Exploration Progress at Wabamisk East

AEM

New Projects/Investments

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.

Dec 23, 2025, 11:30 AM

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.