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Agnico Eagle's Q1 Earnings and Sales Beat on Higher Gold Prices
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Key Takeaways
AEM Q1 EPS rose to $3.40 from $1.53, beating estimates as revenue climbed 66% year over year.
Agnico Eagle Mines saw lower gold output but benefited from sharply higher realized gold prices.
AEM maintained 2026 production outlook while projecting higher costs and steady capital spending.
Agnico Eagle Mines Limited (AEM - Free Report) reported earnings of $3.41 per share for the first quarter of 2026, up from $1.53 in the year-ago quarter.
Barring one-time items, earnings were $3.40 per share, up from $1.53 a year ago, beating the Zacks Consensus Estimate of $3.19.
The company generated revenues of $4,099.6 million, up 66.1% year over year. The top line surpassed the Zacks Consensus Estimate of $3,842.8 million.
Agnico Eagle Mines Limited Price, Consensus and EPS Surprise
Payable gold production was 825,109 ounces in the reported quarter, down 5.6% from 873,794 ounces in the prior-year quarter. The figure missed our estimate of 859,426 ounces.
Total cash costs per ounce for gold were $1,093, up from $895 a year ago. It topped our estimate of $1,057.
Realized gold prices were $4,861 per ounce in the quarter, up from $2,891 a year ago. It outpaced our estimate of $4,167.
All-in-sustaining costs were $1,483 per ounce in the quarter compared with $1,175 a year ago. It was higher than our estimate of $1,353.
AEM’s Financial Position
AEM ended the quarter with cash and cash equivalents of $3,112 million, up 8.6% sequentially. Long-term debt was $197 million.
Total cash from operating activities amounted to $1,346 million in the first quarter, up from $1,044 million a year ago.
AEM’s Outlook
For full-year 2026, the company maintains gold production expectations between 3.3 million and 3.5 million ounces, with production now expected to be weighted 48% to the first half and 52% to the second half. Total cash costs per ounce are projected between $1,020 and $1,120, while AISC is forecast in the range of $1,400 to $1,550 per ounce.
The company expects capital expenditures, excluding capitalized exploration, to be between $2.175 billion and $2.395 billion. Capitalized exploration is projected in the range of $290 million to $330 million.
Exploration and corporate development expenses are expected to be between $275 million and $305 million. Depreciation and amortization expenses are forecast in the range of $1.55-$1.75 billion.
The company anticipates general and administrative expenses between $230 million and $260 million. Other costs are projected between $75 million and $95 million.
AEM expects NTI payments of $185-$195 million for 2026. The effective tax rate is projected between 34% and 36%, with cash taxes estimated in the range of $3.4-$3.6 billion.
AEM’s Price Performance
AEM shares have surged 51.1% in the past year compared with an 63% rise in the industry.
Image Source: Zacks Investment Research
AEM’s Zacks Rank & Key Picks
AEM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth a look in the basic materials space are CF Industries Holdings, Inc. (CF - Free Report) , Aris Mining Corporation (ARIS - Free Report) , and Hawkins, Inc. (HWKN - Free Report) .
CF Industries is slated to report first-quarter 2026 results on May 6. The Zacks Consensus Estimate for earnings is pegged at $2.35 per share, indicating 27.03% year-over-year growth. CF sports a Zacks Rank #1 (Strong Buy) at present.
Aris Mining is slated to report quarterly results on May 6. The Zacks Consensus Estimate for earnings is pegged at 67 cents per share, indicating 318.75% year-over-year growth. ARIS has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hawkins is scheduled to report fiscal fourth-quarter results on May 13. The Zacks Consensus Estimate for HWKN’s fourth-quarter earnings is pegged at 77 cents per share. HWKN currently has a Zacks Rank #2.
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Agnico Eagle's Q1 Earnings and Sales Beat on Higher Gold Prices
Key Takeaways
Agnico Eagle Mines Limited (AEM - Free Report) reported earnings of $3.41 per share for the first quarter of 2026, up from $1.53 in the year-ago quarter.
Barring one-time items, earnings were $3.40 per share, up from $1.53 a year ago, beating the Zacks Consensus Estimate of $3.19.
The company generated revenues of $4,099.6 million, up 66.1% year over year. The top line surpassed the Zacks Consensus Estimate of $3,842.8 million.
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 825,109 ounces in the reported quarter, down 5.6% from 873,794 ounces in the prior-year quarter. The figure missed our estimate of 859,426 ounces.
Total cash costs per ounce for gold were $1,093, up from $895 a year ago. It topped our estimate of $1,057.
Realized gold prices were $4,861 per ounce in the quarter, up from $2,891 a year ago. It outpaced our estimate of $4,167.
All-in-sustaining costs were $1,483 per ounce in the quarter compared with $1,175 a year ago. It was higher than our estimate of $1,353.
AEM’s Financial Position
AEM ended the quarter with cash and cash equivalents of $3,112 million, up 8.6% sequentially. Long-term debt was $197 million.
Total cash from operating activities amounted to $1,346 million in the first quarter, up from $1,044 million a year ago.
AEM’s Outlook
For full-year 2026, the company maintains gold production expectations between 3.3 million and 3.5 million ounces, with production now expected to be weighted 48% to the first half and 52% to the second half. Total cash costs per ounce are projected between $1,020 and $1,120, while AISC is forecast in the range of $1,400 to $1,550 per ounce.
The company expects capital expenditures, excluding capitalized exploration, to be between $2.175 billion and $2.395 billion. Capitalized exploration is projected in the range of $290 million to $330 million.
Exploration and corporate development expenses are expected to be between $275 million and $305 million. Depreciation and amortization expenses are forecast in the range of $1.55-$1.75 billion.
The company anticipates general and administrative expenses between $230 million and $260 million. Other costs are projected between $75 million and $95 million.
AEM expects NTI payments of $185-$195 million for 2026. The effective tax rate is projected between 34% and 36%, with cash taxes estimated in the range of $3.4-$3.6 billion.
AEM’s Price Performance
AEM shares have surged 51.1% in the past year compared with an 63% rise in the industry.
AEM’s Zacks Rank & Key Picks
AEM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth a look in the basic materials space are CF Industries Holdings, Inc. (CF - Free Report) , Aris Mining Corporation (ARIS - Free Report) , and Hawkins, Inc. (HWKN - Free Report) .
CF Industries is slated to report first-quarter 2026 results on May 6. The Zacks Consensus Estimate for earnings is pegged at $2.35 per share, indicating 27.03% year-over-year growth. CF sports a Zacks Rank #1 (Strong Buy) at present.
Aris Mining is slated to report quarterly results on May 6. The Zacks Consensus Estimate for earnings is pegged at 67 cents per share, indicating 318.75% year-over-year growth. ARIS has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hawkins is scheduled to report fiscal fourth-quarter results on May 13. The Zacks Consensus Estimate for HWKN’s fourth-quarter earnings is pegged at 77 cents per share. HWKN currently has a Zacks Rank #2.