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Agnico Eagle's Q3 Earnings Beat Estimates on High Gold Prices

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Key Takeaways

  • Agnico Eagle posted Q3 adjusted EPS of $2.16, topping estimates and rising from $1.14 a year ago.
  • Revenue climbed 41.9% to $3.06B, driven by higher gold prices and strong production performance.
  • The company maintained 2025 output and cost guidance, projecting production of 3.3-3.5M ounces.

Agnico Eagle Mines Limited (AEM - Free Report) reported adjusted earnings of $2.16 per share for the third quarter of 2025, up from $1.14 in the year-ago quarter. The bottom line topped the Zacks Consensus Estimate of $1.76.

The company generated revenues of $3,059.5 million, up nearly 41.9% year over year. The top line surpassed the Zacks Consensus Estimate of $2,727.2 million.

Agnico Eagle Mines Limited Price, Consensus and EPS Surprise

Agnico Eagle Mines Limited Price, Consensus and EPS Surprise

Agnico Eagle Mines Limited price-consensus-eps-surprise-chart | Agnico Eagle Mines Limited Quote

AEM’s Operational Highlights

Payable gold production was 866,963 ounces in the reported quarter, up from 863,445 ounces in the prior-year quarter. The figure surpassed our estimate of 839,898 ounces.

Total cash costs per ounce for gold were $994, up from $921 a year ago. It topped our estimate of $948.

Realized gold prices were $3,476 per ounce in the quarter, up from $2,492 a year ago. It outpaced our estimate of $3,290.

All-in-sustaining costs (AISC) were $1,373 per ounce in the quarter compared with $1,286 per ounce a year ago. It beat our estimate of $1,309.

AEM’s Financial Position

AEM ended the quarter with cash and cash equivalents of $2,355 million, up 51.2% sequentially. Long-term debt was around $196 million.

Total cash from operating activities amounted to $1,816 million in the third quarter, up from $1,085 million a year ago.

AEM’s Outlook

For full-year 2025, the company maintains gold production expectations between 3.3 million and 3.5 million ounces. Total cash costs per ounce are projected between $915 and $965, while AISC is forecast in the range of $1,250 to $1,300 per ounce. If gold prices remain higher through 2025, total cash costs per ounce and AISC per ounce are expected to trend toward the top end.

Exploration and corporate development expenses are expected to be between $215 million and $235 million, with a midpoint of $225 million. Depreciation and amortization expenses are forecasted to be $1.55-$1.75 billion, averaging $1.65 billion. The company anticipates general and administrative expenses to be in the $190 million to $210 million range, with other costs projected between $105 million and $115 million.

The effective tax rate for 2025 is expected to be between 33% and 38%, with cash taxes estimated in the range of $1.1 billion to $1.2 billion. The company also plans capital expenditures (excluding capitalized exploration) of $1.75 billion to $1.95 billion, and capitalized exploration spending is forecasted between $290 million and $310 million.

AEM’s Price Performance

Agnico Eagle’s shares have gained 84.5% in the past year compared with a 74.1% rise of the industry.

Zacks Investment Research
Image Source: Zacks Investment Research

AEM’s Zacks Rank & Other Key Picks

AEM currently carries a Zacks Rank #2 (Buy).

Other top-ranked stocks worth a look in the basic materials space include Royal Gold, Inc. (RGLD - Free Report) , Avino Silver & Gold Mines Ltd. (ASM - Free Report) and Fortuna Mining Corp. (FSM - Free Report) .

Royal Gold is scheduled to report third-quarter results on Nov. 5. The Zacks Consensus Estimate for RGLD’s third-quarter earnings is pegged at $2.30 per share. RGLD’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, with the average surprise being 8.95%. Royal Gold currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Avino Silver is slated to report third-quarter results on Nov. 6. The Zacks Consensus Estimate for third-quarter earnings is pegged at 3 cents per share. ASM’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, with the average surprise being 141.67%. Avino Silver carries a Zacks Rank #2 at present.

Fortuna Mining is scheduled to report third-quarter results on Nov. 5. FSM carries a Zacks Rank #2 at present. Fortuna Mining’s earnings beat the consensus estimate in one of the last four quarters and missed thrice.

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