AGNICO EAGLE MINES LTD (AEM) Form 6-K — Nov 2, 2026
Agnico Eagle reported Q3 2026 net income of $1,353 million ($2.67 per share) and adjusted net income of $1,324 million ($2.62 per share), driven by payable gold production of 814,012 ounces at a realized gold price of $4,264 per ounce. Free cash flow came in at $852 million ($1.68 per share) on cash from operations of $1,755 million, with the cash balance rising $149 million to $3,613 million against just $197 million of total debt — a net cash position of $3,416 million. Post-quarter, the company upsized its unsecured revolver from $2 billion to $3 billion with maturity extended to October 28, 2031.
Key figures
- Eps
- 2.67
- Revenue
- 0
- Guidance
- 2026 payable gold production near lower end of 3.3-3.5 million oz range; total cash costs and AISC near upper end of $1,020-$1,120 and $1,400-$1,550 ranges; capex $2.6-2.8B; capitalized exploration $290-330M; anticipates returning >50% of free cash flow to shareholders in 2026
- Net Income
- 1353
- Total Debt
- 197
- Cash Position
- 3613
- Q3 capex
- $921 million (incl. $73M capitalized exploration)
- Aisc per oz
- 1648
- Growth target
- 20%-30% production increase over next decade; potential >4.0M oz in early 2030s
- Credit facility
- amended $2B unsecured revolver upsized to $3B, maturity Oct 28, 2031, accordion to $4.5B
- Free cash flow q3
- $852 million ($1.68/share)
- Net cash position
- $3,416 million
- Adjusted ebitda q3
- $2,466 million
- Cash taxes paid 9m
- $2.9 billion
- Dividend per share
- $0.45 quarterly (record Dec 1, payable Dec 15, 2026)
- Ncib repurchases q3
- 1,297,940 shares at avg $192.60 (~$250 million)
- Realized gold price
- $4,264/oz
- Nine month net income
- $4,648.8 million
- Adjusted net income q3
- $1,324 million ($2.62/share)
- Cash from operations q3
- $1,755 million ($3.47/share)
- Production costs per oz
- 1193
- Total cash costs per oz
- 1133
- Payable gold production q3
- 814012
- Effective tax rate guidance
- 34%-36%
- Total shareholder returns q3
- $478 million
AI analysis
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