Agnico Eagle Q3 Net Income Rises to $1.35B on $4,264/oz Gold; Credit Line Raised to $3B
AEM sits 35% above its 52-week low of $134.38.
Summary
Agnico Eagle posted Q3 2026 net income of $1.35 billion ($2.67 per share) as a 22.7% higher realized gold price offset weaker output, though 2026 guidance now sits at the low end for production and the high end for costs after the Barnat pit disruption. The company also upsized its credit facility to $3.0 billion and declared a $0.45 quarterly dividend.
Key Events · Earnings and Guidance · AEM
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Q3 Net Income Jumps to $1.35B
Net income came in at $1,352.9 million ($2.67 per share basic) versus $1,055.0 million ($2.10) in Q3 2025, on revenues of $3,583.6 million versus $3,059.5 million.
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Realized Gold Price Up 22.7%
The average realized gold price reached $4,264 per ounce versus $3,476 a year earlier, more than offsetting lower production of 814,012 ounces versus 866,936 ounces.
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Guidance Skewed to Weak End
Full-year 2026 production is expected at the low end of 3.3-3.5 million ounces, with cash costs and AISC near the upper end of $1,020-$1,120 and $1,400-$1,550 per ounce; Canadian Malartic cash costs are now ~$1,260/oz versus $1,187 prior guidance.
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Barnat Pit Restarted September 27
Mining resumed at the Barnat open pit after the July 1, 2026 rock mass movement; the event is expected to cut Canadian Malartic output by 60,000-80,000 ounces in H2 2026 and by up to 150,000 ounces in each of 2027 and 2028.
Analysis · AEM · Energy & Transportation
Higher gold prices did the heavy lifting in Agnico Eagle's third quarter: net income climbed to $1.35 billion ($2.67 per share) from $1.06 billion a year earlier, as the realized gold price rose 22.7% to $4,264 per ounce even with production down to 814,012 ounces from 866,936. Mining at the Barnat pit at Canadian Malartic resumed on September 27, 2026 following the July 1 rock mass movement, yet full-year production is now guided to the low end of 3.3-3.5 million ounces and cash costs and AISC to the upper end of their ranges; Canadian Malartic cash costs are put at about $1,260 per ounce versus $1,187 previously. On the balance sheet side, the $2.0 billion revolver was expanded to $3.0 billion maturing October 28, 2031, and the board declared a $0.45 quarterly dividend payable December 15, 2026.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 30.7% of the 1698 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, AEM was trading at $180.75 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $93.3B. The 52-week trading range was $134.38 to $255.24. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.