Agnico Eagle Posts $852M Q3 Free Cash Flow, Keeps Guidance at Weak End of Ranges
AEM sits 35% above its 52-week low of $134.38.
Summary
Agnico Eagle delivered Q3 2026 payable gold production of 814,012 ounces at all-in sustaining costs of $1,648 per ounce, generating $852 million of free cash flow and $1,353 million of net income ($2.67 per share). The quarter was carried by a realized gold price of $4,264 per ounce, up from $3,476 a year earlier, which offset costs that rose sharply year over year. Guidance is intact but at the soft end: full-year production is expected near the low end of 3.3-3.5 million ounces and both cash costs and AISC near the top of their ranges, with diesel and consumables inflation cited. The balance sheet is a standout — net cash of $3,416 million and total debt of just $197 million, and the company upsized its revolver to $3 billion with a 2031 maturity. Shareholder returns remain aggressive: $478 million returned in the quarter, including $250 million of buybacks at an average $192.60, with management targeting more than 50% of free cash flow returned in 2026. Watch the conference call tomorrow, October 29, at 11:00 AM EDT for detail on the Barnat restart and the Detour Lake mill gear replacement.
At the time of this announcement, 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 news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: PR Newswire.