Agnico Eagle prodá projekty Delta a Helm Bay společnosti Vizsla Copper za akcie, warranty opce a licenční poplatky. Uzavření transakce se očekává ve 4. čtvrtletí 2026.
, /PRNewswire/ -- Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that its wholly-owned subsidiary, Agnico Eagle (USA) Limited ("Agnico USA") has entered into a securities and asset purchase agreement dated September 8, 2026 (the "Purchase Agreement") with Vizsla Copper Corp. (TSX.V: VCU, OTCQB: VCUFF) ("Vizsla Copper") and its wholly-owned subsidiary, Vizsla Copper US Acquisitions LLC, pursuant to which Agnico USA has agreed to sell: (a) all of the issued and outstanding membership interests of Delta Project LLC, a Delaware limited liability company that holds the mining claims comprising the Delta base and precious metal project ("Delta"); and (b) the assets comprising the Helm Bay gold project ("Helm Bay") in return for certain aggregate consideration and contingent milestone payments as set out below (the "Transaction").
The Transaction is subject to certain closing conditions, including approval of the TSX Venture Exchange (the "TSXV"), and is expected to close in the fourth quarter of 2026.
Pursuant to the Purchase Agreement, Agnico Eagle will receive the following aggregate consideration:
22,523,283 common shares of Vizsla Copper (each, a "Common Share") representing approximately 19.99% of the issued and outstanding Common Shares as at the date of the Purchase Agreement, to be issued to Agnico Eagle at closing (the "Initial Consideration Shares"); 2,903,490 Common Shares (the "Deferred Consideration Shares" and, together with the Initial Consideration Shares, the "Consideration Shares"), to be issued to Agnico Eagle following receipt of disinterested shareholder approval, subject to certain conditions; 3,041,480 Common Share purchase warrants, each exercisable to acquire one Common Share at an exercise price of C$1.95 per Common Share for a period of two years from the date of issuance (each, a "Warrant"); and a 2.0% net smelter return royalty on Delta and a 3.0% net smelter return royalty on Helm Bay (together, the "NSRs"), to be granted to Agnico Eagle at closing pursuant to separate royalty agreements. Vizsla Copper will have the right to purchase 50% of each of the NSRs at any time for C$5,000,000. The Consideration Shares will be issued at a deemed price of C$1.26 per Common Share for an aggregate value of approximately C$32,037,734.
Vizsla Copper will also make the following contingent milestone payments to Agnico Eagle in respect of Delta (each of which may be satisfied, at Vizsla Copper's election, in cash or in Common Shares, subject to certain limitations set out in the Purchase Agreement):
C$5,000,000, upon Vizsla Copper publicly disclosing a mineral resource estimate for Delta indicating an aggregate mineral resource of at least 300,000 copper equivalent tonnes of metal; C$5,000,000, upon completion by Vizsla Copper of a feasibility study for Delta; and C$10,000,000, upon Delta achieving commercial production. Where a milestone payment is satisfied in Common Shares, the number of Common Shares issuable will be determined by reference to the 20-day volume-weighted average trading price of the Common Shares at the relevant time, subject to a floor price of C$1.26 per Common Share, being the maximum discount permitted under the policies of the TSXV. Any milestone payment that would result in Agnico Eagle having beneficial ownership of, or exercising control or direction over, 20% or more of the issued and outstanding Common Shares, or that cannot be satisfied in Common Shares because the required TSXV acceptance has not been obtained, will be satisfied in cash.
On closing of the Transaction, Agnico Eagle is expected to hold approximately 19.99% of the issued and outstanding Common Shares. Following closing, Vizsla Copper will seek disinterested shareholder approval to approve the issuance of the Deferred Consideration Shares, which would result in Agnico Eagle holding approximately 22.0% of the issued and outstanding Common Shares on a post-Transaction basis. In addition, the Warrants will provide that the holder thereof cannot exercise any Warrants to acquire Common Shares if such acquisition would result in the holder having beneficial ownership or control of 19.99% or more of the issued and outstanding Common Shares at the time of exercise. If the Deferred Consideration Shares have not been issued by January 31, 2027, Vizsla Copper will instead be required to issue to Agnico Eagle a non-interest-bearing promissory note.
The Transaction constitutes a "Reviewable Transaction" under TSXV Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets, as the Consideration Shares to be issued to Agnico Eagle will result in Agnico Eagle becoming an Insider of Vizsla Copper.
In addition, on closing of the Transaction, Agnico Eagle and Vizsla Copper will enter into an investor rights agreement pursuant to which Agnico Eagle will be granted certain rights, provided that it maintains certain ownership thresholds in the Common Shares, including: (i) the right to nominate one person (and in the case of an increase in the size of Vizsla Copper's board of directors to eight or more directors, two persons) to Vizsla Copper's board of directors; (ii) the right to participate in certain equity offerings and dilutive issuances in order to maintain or acquire up to the greater of Agnico Eagle's then-current ownership interest and an ownership interest of 19.9% (on a partially-diluted basis) in Vizsla Copper; and (iii) demand and piggy-back registration rights in respect of certain offerings.
Agnico Eagle is acquiring the Common Shares and Warrants as part of its strategy of acquiring strategic positions in prospective opportunities with high geological potential. Depending on market conditions, strategic priorities and other factors, Agnico Eagle may, from time to time, acquire additional Common Shares, Warrants or other securities of Vizsla Copper or dispose of some or all of the Common Shares, Warrants or other securities of Vizsla Copper that it owns at such time.
Post Closing Financing Commitment
Agnico Eagle has agreed to participate in the first equity financing completed by Vizsla Copper following the date of the Purchase Agreement (the "Post-Closing Financing"), in an amount not to exceed the lesser of (a) C$5,000,000, and (b) 10% of the aggregate gross proceeds of the Post-Closing Financing. Agnico Eagle's participation in the Post-Closing Financing is conditional on the Post-Closing Financing having a minimum aggregate offering size of C$30,000,000, and it being completed on or before December 31, 2026.
An early warning report will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact:
Investor Relations
Agnico Eagle Mines Limited
145 King Street East, Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Email: [email protected]
Agnico Eagle's head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. Vizsla Copper's head office is located at 1723 – 595 W. Burrard St., Vancouver, BC V7X 1J1.
Advisors
Stifel Canada is acting as financial advisor to Agnico Eagle. Davies Ward Phillips & Vineberg LLP is acting as legal advisor to Agnico Eagle.
About Agnico Eagle
Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. Agnico Eagle is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
For further information regarding Agnico Eagle, contact Investor Relations at [email protected] or call (416) 947-1212.
Forward-Looking Statements
The information in this news release has been prepared as at September 8, 2026. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "may", "will" or similar terms.
Forward-looking statements in this news release include, without limitation, statements relating to Agnico Eagle's receipt of Common Shares, Warrants and NSRs pursuant to the Purchase Agreement, the expected closing and closing date of the Transaction, Agnico Eagle's expected royalty interest in Delta and Helm Bay, the contingent milestone payments payable in respect of Delta and the manner in which they may be satisfied, Agnico Eagle's participation in the Post-Closing Financing, Agnico Eagle's expected ownership interest in Vizsla Copper upon closing of the Transaction, the investor rights agreement to be entered into between Agnico Eagle and Vizsla Copper on closing of the Transaction and Agnico Eagle's acquisition or disposition of securities of Vizsla Copper in the future. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Other than as required by law, Agnico Eagle does not intend, and does not assume any obligation, to update these forward-looking statements.
Agnico Eagle Mines (AEM) snížila dlouhodobý dluh v roce 2025 asi o 950 milionů USD na 197 milionů USD a ve 2. čtvrtletí vytvořila rekordní volný peněžní tok 1,3 miliardy USD.
Key Takeaways AEM cut long-term debt by roughly $950 million in 2025, and ended Q2 with just $197 million.AEM generated $1.3B in Q2 free cash flow on higher gold prices and strong operational results.AEM's 1% debt-to-capital ratio boosts flexibility to fund growth, exploration and shareholder returns. Agnico Eagle Mines Limited (AEM - Free Report) continues to prioritize balance sheet strength, underscoring its financial discipline. The company remains focused on paying down debt using excess cash, with total long-term debt reducing by roughly $950 million in 2025. AEM had a total long-term debt of $197 million at the end of the second quarter. It ended the quarter with a significant net cash position of roughly $3.3 billion, driven by an increase in cash. AEM’s long-term debt-to-capitalization is just around 1%, indicating lower financial risks.
Strong free cash flow generation is aiding the reduction in leverage. AEM’s strong liquidity and consistent cash flows enable it to sustain a healthy exploration budget, fund a solid pipeline of growth projects, reduce debt and enhance shareholder value. AEM generated record second-quarter free cash flow of roughly $1.3 billion, driven by higher realized gold prices, cost control and strong operational results.
The company’s consistent focus on reducing debt has strengthened its financial flexibility, enabling it to fund growth initiatives and return capital to its shareholders while reducing dependence on external financing. With a low debt burden, AEM is well-positioned to continue investing in exploration and development projects, providing a meaningful competitive advantage.
Looking across the peer landscape, Kinross Gold Corporation (KGC - Free Report) has taken steps to improve its leverage profile, thanks to strong free cash flow generation. In 2025, Kinross repaid $700 million of debt. With $1.7 billion in available credit (as of June 30, 2026), $4.4 billion in total liquidity and no debt maturities until 2033, Kinross is well-positioned to support growth while strengthening its balance sheet and delivering shareholder value.
Newmont Corporation (NEM - Free Report) remains committed to deleveraging, reducing debt by roughly $3.4 billion in 2025. NEM ended the second quarter with a strong net cash position of $3.4 billion and remains actively focused on managing its debt. At the end of the second quarter of 2026, Newmont had robust liquidity of roughly $13 billion, including cash and cash equivalents of around $9 billion.
The Zacks Rundown for AEMAgnico Eagle’s shares have gained 37.5% over the past year against the Zacks Mining – Gold industry’s rise of 52%.
Image Source: Zacks Investment Research
From a valuation standpoint, AEM is currently trading at a forward 12-month earnings multiple of 17.9, a roughly 32.9% premium to the industry average of 13.47X. It carries a Value Score of C.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AEM’s 2026 and 2027 earnings implies a year-over-year rise of 39.6% and decline of 2.7%, respectively. The EPS estimates for 2026 and 2027 have been trending lower over the past 60 days.
Agnico Eagle koupí 53,42 milionu jednotek Radisson Mining Resources za zhruba 57,2 milionu C$ a získá 10,45% podíl. Peníze podpoří hlubinný průzkum a další vyhodnocení projektu O’Brien.
Key Takeaways Agnico Eagle will acquire 53.42 million Radisson units for about C$57.2 million. The investment will fund advanced underground exploration and further evaluation of the O'Brien Project. Agnico Eagle is expected to hold 10.45% of Radisson and gain rights to support its strategic position. Agnico Eagle Mines Limited (AEM - Free Report) recently announced that it has entered into a subscription agreement with Radisson Mining Resources Inc. to make an investment to support an advanced underground exploration program.
Under the agreement, Agnico Eagle will acquire 53.42 million units of Radisson at C$1.07 per unit through a non-brokered private placement, providing Radisson with gross proceeds of approximately C$57.2 million. Each unit consists of one common share and one-half of a warrant. Each whole warrant will allow Agnico Eagle to purchase an additional Radisson share at C$1.39 for five years, subject to potential acceleration provisions.
Following completion of the transaction, Agnico Eagle is expected to hold approximately 10.45% of Radisson's issued and outstanding common shares on a non-diluted basis. The investment is intended to provide Radisson with the capital required to advance exploration and further evaluate the mineral potential of the O’Brien Project, while giving Agnico Eagle exposure to a prospective gold asset in the Abitibi region.
The investment also provides Agnico Eagle with certain investor rights, including participation rights in future financings and the ability to maintain or increase its ownership position, subject to agreed ownership thresholds. The agreement includes provisions concerning transactions involving Radisson’s mineral properties, further strengthening Agnico Eagle’s position as a strategic investor.
The transaction is consistent with Agnico Eagle’s broader strategy of establishing positions in high-potential exploration and development assets, particularly in regions where it already has significant operating and technical expertise.
Price Performance of AEMShares of AEM are up 56% over the past year compared with the industry’s 64.9% rise.
Image Source: Zacks Investment Research
AEM’s Zacks Rank & Key PicksAEM currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the Basic Materials space are Worthington Steel, Inc. (WS - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Avient Corporation (AVNT - Free Report) . WS currently sports a Zacks Rank #1 (Strong Buy), while CRS and AVNT carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for WS’ current-year earnings stands at $3.4 per share, implying a 52.5% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, with the negative average surprise being 13.8%.
The Zacks Consensus Estimate for CRS’ fiscal current-year earnings is pegged at $13.08 per share, implying a 21.6% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 8.4%.
The Zacks Consensus Estimate for AVNT’s current-year earnings is pegged at $3.2 per share, indicating a 13.5% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 3.4%.
Agnico Eagle investuje do Radisson 57 159 400 C$ za 53 420 000 jednotek a získá asi 10,45 % společnosti. Peníze podpoří pokročilý podzemní průzkum na projektu O'Brien Gold v Québecu.
Rouyn-Noranda, Quebec--(Newsfile Corp. - August 24, 2026) - Radisson Mining Resources Inc. (TSXV: RDS) (OTCQX: RMRDF) ("Radisson" or the "Company") is pleased to announce that it has entered into a subscription agreement with Agnico Eagle Mines Limited ("Agnico Eagle"), pursuant to which Agnico Eagle has agreed to subscribe for and purchase 53,420,000 units of the Company (the "Units") at a price of C$1.07 per Unit for aggregate gross proceeds of C$57,159,400 (the "Investment"). Following completion of the Investment, Agnico Eagle will beneficially own approximately 10.45% of the issued and outstanding Common Shares of the Company on a non-diluted basis and approximately 14.90% on a partially diluted basis.
The Investment will support the commencement of an advanced underground exploration program (the "Program") at Radisson's 100%-owned O'Brien Gold Project ("O'Brien" or the "Project") located in the Abitibi region of Québec. The Program represents the next phase in the advancement of O'Brien and is intended to provide the geological, geotechnical and operational information required to evaluate mining options and future development scenarios. The Program is expected to include the development of an access ramp, related underground and surface mine infrastructure, and water management facilities. Engineering and permitting work in respect of the Program will commence immediately. At the same time, Radisson will continue its ongoing 140,000-metre step-out drill program, fully-funded from existing cash resources, which continues to demonstrate significant growth potential in the Project's mineral resources.
Each Unit consists of one Class A common share (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). The subscription price of C$1.07 per Unit represents a 6% premium to the Company's closing share price on August 21, 2026 and a 19% premium to its 20-day volume weighted average price ("VWAP"). Each Warrant is exercisable for a period of 60 months at a price of C$1.39 per Common Share and is subject to acceleration after 24 months if the VWAP of the Common Shares exceeds C$1.85 for the applicable 20-consecutive-trading-day period. The private placement will be completed on a non-brokered basis and no commissions or finder's fees will be payable in connection with the Investment.
Matt Manson, President and CEO: "We are very happy to welcome Agnico Eagle as a significant shareholder for the next stage of exploration and development at the O'Brien Gold Project. This is a milestone step for Radisson. The Advanced Underground Exploration Program that will now commence is designed to extend our understanding of potential mining conditions at O'Brien, including the continuity of mineralization, the geotechnical setting, potential mining methods, and processing criteria. It also establishes a development schedule for O'Brien. As this underground work advances, our ongoing 140,000-metre surface drill program of exploration step-outs will continue as planned, funded from our existing cash resources. Recent results have indicated extensive gold mineralization with good continuity beneath the former O'Brien mine and the current mineral resources to at least 1.9 kilometres depth. In May of this year, we announced our intention to extend our drilling ambition to 2.5 kilometres depth (see Radisson news release dated May 28, 2026). Now, this investment by Agnico Eagle will fund the first modern underground access at O'Brien, which will assist us in developing the Project's full potential."
On Closing of the Investment, the Company and Agnico Eagle will enter into an investor rights agreement ("IRA") pursuant to which Agnico Eagle will be granted certain rights, provided that it maintains certain ownership thresholds, including: (i) the right to nominate one person (and in the case of an increase in the size of the Company's Board of Directors to eight or more directors, two persons) to the Company's Board of Directors; and (ii) the right to participate in certain equity offerings in order to maintain or acquire up to the greater of Agnico Eagle's then-current ownership interest and an ownership interest of 14.9% (on a partially-diluted basis) in the Company, and a separate top-up right in respect of certain dilutive issuances permitting Agnico Eagle to maintain its then-current ownership interest (on a partially-diluted basis) in the Company. In addition, the IRA will also provide for certain restrictions through to December 31, 2028 on specified transactions involving the Company's mineral properties, including dispositions and certain royalty, stream, offtake and secured financing transactions, and thereafter a 60-day advance notice right in respect of such transactions for so long as Agnico Eagle maintains at least a 5.0% ownership interest in the Company (on a partially-diluted basis). For certainty, the foregoing restrictions and notice right will not apply to any change of control transaction involving the Company.
Closing is subject to customary conditions for a transaction of this nature, including approval of the TSX Venture Exchange.
About Radisson Mining
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes, but is not limited to, statements regarding: completion and timing of the Investment; satisfaction of the conditions to closing, including approval of the TSX Venture Exchange; the issuance of the Units and Warrants and Agnico Eagle's resulting ownership interest in the Company; the entering into and operation of the investor rights agreement, including the participation, top-up, and board nomination rights, the restrictions applicable to specified transactions involving the Company's mineral properties; the commencement, scope, timing and advancement of the Program, including engineering, permitting, ramp development, related surface infrastructure and water management facilities; the allocation and use of the proceeds of the Investment; the continuation and results of the Company's ongoing drill program; the potential growth of the Project's mineral resources; and the evaluation and potential development of O'Brien, including potential development scenarios involving existing regional infrastructure.
Forward-looking information is based on assumptions and estimates that management considers reasonable as of the date of this news release, including assumptions regarding the satisfaction of closing conditions, receipt of required regulatory and Exchange approvals, the availability of permits and other authorizations, project schedules and costs, geological and technical results, commodity prices, access to labour, equipment and services, and the Company's ability to execute its planned exploration and development activities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied, including the risk that the Investment is not completed on the terms or timing currently contemplated or at all; that required approvals or permits are delayed or not obtained; that the Program or use of proceeds changes; that actual costs, schedules, geological, geotechnical, metallurgical or other technical results differ from expectations; risks inherent in mineral exploration and development; commodity price and capital market volatility; changes in laws and regulations; and other risks described in the Company's public disclosure. Although the Company believes the assumptions underlying such forward-looking information are reasonable, no assurance can be given that they will prove correct. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any forward-looking information except as required by applicable law.
Please refer to the "Risks and Uncertainties Related to Exploration" and the "Risks Related to Financing and Development" sections of the Company's Management's Discussion and Analysis dated April 23, 2026 for the year ended December 31, 2025 available electronically on SEDAR+ at www.sedarplus.ca. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310988
Source: Radisson Mining Resources
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Agnico Eagle Mines (AEM) za poslední měsíc vzrostla o 24,6 % díky růstu ceny zlata a lepším než očekávaným výsledkům za 2. čtvrtletí. Firma ale čelí vyšším nákladům, nižší produkci a snižujícím se odhadům zisku.
Key Takeaways Agnico Eagle's shares gained on rallying gold prices and forecast-topping second-quarter earnings.AEM's growth projects and strong cash flow support production expansion, debt cuts and shareholder returns.Higher costs, lower production and declining earnings estimates weigh on AEM. Agnico Eagle Mines Limited’s (AEM - Free Report) shares have rallied 24.6% in the past month, thanks to a rebound in gold prices and the company’s forecast-topping earnings performance in the second quarter driven by higher realized prices. AEM saw 35% and 57% year-over-year growth in its top line and adjusted earnings in the quarter, respectively, thanks to higher prices.
AEM has modestly underperformed the Zacks Mining – Gold industry’s 25.1% increase while topping the S&P 500’s rise of 2.8%. Its gold mining peers, Newmont Corporation (NEM - Free Report) , Barrick Mining Corporation (B - Free Report) and Kinross Gold Corporation (KGC - Free Report) have gained 21.3%, 21.5% and 17.7%, respectively, over the same period.
AEM’s One-month Price Performance Image Source: Zacks Investment Research
AEM stock broke above the 50-day simple moving average (SMA) on Aug. 5, 2026. The stock has been trading below the 200-day SMA since May 15, 2026. Following a death crossover on June 18, 2026, the 50-day SMA is lower than the 200-day SMA, indicating a bearish trend.
Agnico Eagle’s Shares Trade Above 50-Day SMA Image Source: Zacks Investment Research
Let’s take a look at AEM’s fundamentals to better analyze how to play the stock.
Key Projects to Drive AEM’s Production UpsideAgnico Eagle is focused on executing projects that are expected to provide additional growth in production and cash flows. It is advancing its key value drivers and pipeline projects, including the Odyssey project in the Canadian Malartic Complex, Detour Lake, Hope Bay, Upper Beaver and San Nicolas.
The Hope Bay Project, with proven and probable mineral reserves of 3.4 million ounces, is expected to play a significant role in generating cash flow in the years to come. AEM made a positive investment decision for the project in May 2026, backed by a study with a projected annual gold production of 400,000 to 435,000 ounces over an initial 11-year mine life. The company carried out construction activities in the second quarter to support project redevelopment.
At Canadian Malartic, Agnico Eagle is advancing the transition to underground mining with the construction of the Odyssey mine and executing other opportunities to beef up annual production. Production from the East Gouldie deposit ramped up during the second quarter.
Drilling at the Marban deposit, added through the acquisition of O3 Mining, focuses on mineral reserve and mineral resource expansion. At San Nicolas, the land use change and the environmental impact assessment permits were received in July 2026, marking a milestone for the development of the project. At Detour Lake, AEM advanced the development of the exploration ramp during the second quarter. Development activities also advanced at Upper Beaver, which has the potential to produce 200,000-225,000 ounces of gold and 3,600 tons of copper annually.
AEM’s Solid Financial Health Supports Capital AllocationAEM has a robust liquidity position and generates substantial cash flows, which enable it to maintain a strong exploration budget, finance a strong pipeline of growth projects, pay down debt and drive shareholder value. Its operating cash flow for full-year 2025 was a record $6.8 billion, driven by operational efficiencies. Operating cash flow was roughly $2.1 billion in the second quarter, up around 16% from the year-ago quarter.
AEM generated record second-quarter free cash flow of roughly $1.3 billion, driven by higher realized gold prices, cost control and strong operational results. Higher realized prices are expected to continue to boost AEM’s profitability and drive cash flow generation.
Gold prices are regaining strength after a significant downward correction. Heightened geopolitical tensions, a weaker U.S. dollar and tariff-related worries drove bullion to a record high of nearly $5,600 per ounce in late January. Since then, gold has pulled back sharply due to inflation concerns triggered by a surge in crude oil prices amid Middle East tensions. While gold started April near $4,800 per ounce, prices tumbled to $4,500 per ounce around the end of May.
Bullion continued to retreat in June, with prices slipping below $4,000 per ounce to a near eight-month low amid rate-hike expectations and a stronger greenback, despite reduced inflation concerns following the interim agreement between the United States and Iran. Prices remain, for the most part, under pressure in July, occasionally breaking above the $4,100 per ounce level.
Gold prices have been on an upward trajectory lately, surging above $4,300 per ounce, as a slump in oil prices, driven by efforts to reopen the Strait of Hormuz, eased inflation concerns, reducing expectations for a U.S. interest rate hike.
Meanwhile, the company remains focused on paying down debt using excess cash, with total long-term debt reducing by roughly $950 million in 2025. AEM had a total long-term debt of $197 million at the end of the second quarter. It ended the quarter with a significant net cash position of roughly $3.3 billion, driven by an increase in cash.
AEM also returned $1 billion in the first half of 2026 through dividends and share buybacks, including a record $625 million in the second quarter. It repurchased shares worth $550 million in the first half. It raised the quarterly dividend by 12.5% to 45 cents per share. The company plans to return 40% of its annual free cash flow to its shareholders. AEM offers a dividend yield of 1% at the current stock price. It has a five-year annualized dividend growth rate of 2.7% and a payout ratio of 16%.
Higher Costs & Production Headwinds Weigh on AEM StockAgnico Eagle remains exposed to higher production costs. Its all-in-sustaining costs (AISC) — a critical cost metric for miners — were $1,459 per ounce in the second quarter, marking a roughly 14% year-over-year rise, impacted by higher total cash costs and an uptick in sustaining capital expenditures. Total cash costs per ounce for gold were $1,054, 14% higher than $925 a year ago. Total cash costs rose due to increased royalty costs, higher labor and energy costs and lower production.
AEM forecasts total cash costs per ounce in the range of $1,020 to $1,120 and AISC per ounce between $1,400 and $1,550 for 2026, suggesting a year-over-year increase at the midpoint of the respective ranges. Higher production costs warrant caution, as they will likely weigh on profitability.
Agnico Eagle also saw lower production in the first half of 2026 due to lower grades and throughput across certain mines. Production also fell in the second quarter, impacted by reduced production from Canadian Malartic. Barnat pit wall movement is a key near-term operational risk. A rock mass movement at the Barnat open pit at Canadian Malartic involved roughly one million tons of material. Mining was suspended at the pit, with remediation expected in the third quarter and mining resumption anticipated in the fourth quarter.
The event is projected to reduce gold production at Canadian Malartic by 60,000-80,000 ounces in the second half of 2026. For full-year 2026, the company expects gold production near the lower end of its guidance of 3.3 million to 3.5 million ounces, reflecting the preliminary redesign of the Barnat open pit. The reduced production base is likely to keep per-ounce costs elevated, potentially limiting margin expansion.
AEM’s Earnings Estimates SouthboundThe Zacks Consensus Estimate for AEM’s 2026 earnings has been going down over the past 60 days. The consensus estimate for third-quarter 2026 earnings has also been revised lower over the same time frame.
Image Source: Zacks Investment Research
Agnico Eagle Stock Trades at a PremiumAgnico Eagle is currently trading at a forward 12-month earnings multiple of 15.47, a roughly 28.5% premium to the peer group average of 12.04X. AEM is also trading at a premium to Barrick Mining, Newmont and Kinross Gold. Agnico Eagle has a Value Score of D. Barrick Mining, Newmont and Kinross Gold have a Value Score of B, each.
AEM’s P/E F12M Vs. Industry, B, NEM & KGC Image Source: Zacks Investment Research
How Should Investors Play AEM Stock?AEM is backed by a solid lineup of growth initiatives and a healthy balance sheet. Higher realized gold prices should support stronger margins and improved cash flow. However, elevated cost levels and lower expected production may weigh on the company’s performance. Its stretched valuation also might not offer an attractive entry point at this time. This, coupled with declining earnings estimates, casts a pall on the company's prospects. Therefore, it is prudent to avoid this Zacks Rank #5 (Strong Sell) stock.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Agnico Eagle Mines vidí cestu k růstu roční produkce zlata o 20 % až 30 % během příštích pěti až deseti let díky organickému růstu. Tahouny mají být Detour Lake, Canadian Malartic a Hope Bay.
Why Gold Miners Could Be the Market's Biggest Comeback StoryAgnico Eagle Mines NYSE: AEM sees a pathway to increase annual gold production by 20% to 30% over the next five to 10 years through organic growth, supported by exploration success and expansion opportunities across its existing portfolio, according to Ion Hann, the company’s Vice President of Australian Operations.
Speaking at a company presentation, Hann said the miner’s strategy centers on operating in jurisdictions with rule of law and secure tenure, developing deposits capable of supporting multiple mines over decades, and building long-term relationships in the regions where it operates.
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Gold Is Testing Its 200-Day SMA—These 3 Mining Stocks Are the Play“We believe we have one of the most compelling growth stories in the global gold industry today,” Hann said, adding that the expected growth is intended to come from internal exploration and project development rather than outside acquisitions.
Detour Lake and Canadian Malartic Growth Plans Hann identified Detour Lake, Canadian Malartic and Hope Bay as major components of the company’s future production growth. At Detour Lake, he said Agnico Eagle’s exploration team has added nearly 25 million ounces to the asset over the past five to 10 years.
3 Contrarian "Buy the Dip" Picks—and One Area to AvoidThe company is evaluating underground mining potential at Detour Lake and has started an underground decline. Hann said the plan is to replace some lower-grade open-pit material with higher-grade underground material, alongside further mill optimization.
He said the company sees a “clear pathway” for Detour Lake to reach production of 1 million ounces annually and sustain that level for decades.
At Canadian Malartic, Agnico Eagle has also added about 25 million ounces through exploration during the past five to 10 years, Hann said. The operation is transitioning from a large open pit to the Odyssey underground mine. The underground mine is expected to process roughly one-third of the tonnage at three times the grade, resulting in a broadly similar ounce production profile, according to Hann.
The transition is expected to free approximately 40,000 tons per day of processing capacity at the existing plant. Hann said that capacity could support satellite operations in the region, including the Marban project, which is about 13 kilometers away.
He also said the company is continuing to drill at Odyssey and is studying whether a second shaft may be required. Shaft No. 1 was described as nearly complete to its final depth.
Hope Bay and Finland Expansion At Hope Bay in Nunavut, Hann said Agnico Eagle has begun construction following a decision in May to restart development of the project. The company operates other assets in Nunavut, including the Meliadine operation and Meadowbank complex, and Hann said its existing operating experience in the Arctic gives it an advantage in developing Hope Bay.
Hope Bay encompasses an approximately 80-kilometer greenstone belt that Hann characterized as underexplored. He said exploration success at the Patch 7 area “really changed the game” for the project. The company believes scale is essential for operating in the Arctic because of logistical challenges and expects Hope Bay to be part of its growth profile for decades.
Hann also discussed Agnico Eagle’s recently announced transaction involving Rupert Resources’ Ikkari project in Finland. He said the deal aligns with the company’s regional consolidation strategy, given its decades-long operating presence at the Kittilä mine.
The company plans to use its experience in Finland, including its relationships with communities and regulators, to develop Ikkari and maximize the value of deposits in the region, Hann said.
Australian Opportunities In Australia, Hann pointed to longer-term exploration potential around the Fosterville mine in Victoria’s Central Victorian Goldfields. He said Fosterville continues to generate significant cash flow from a relatively small footprint, while the broader region remains underexplored.
Hann said Agnico Eagle has the only modern processing plant of meaningful scale in the Central Victorian Goldfields and believes it could be well positioned to process material from future discoveries north and northwest of Bendigo.
He also highlighted the company’s Northern Territory property in the Pine Creek region, where it has completed rehabilitation work on legacy issues and continues to drill. The company is seeking to define sufficient resources to support an operation with a life of more than 10 years before restarting mining, Hann said.
The Northern Territory site includes the region’s only processing plant, with capacity of more than 2 million tons, as well as a licensed tailings facility. Hann said those existing assets could provide a lower-capital-cost entry point if the company establishes sufficient scale for a restart.
Hann concluded that Agnico Eagle’s growth plans are supported by what he described as a strong balance sheet, industry-leading cost metrics, dividends and share repurchases. He said the company remains focused on per-share performance and shareholder returns as it advances its project pipeline.
About Agnico Eagle Mines (NYSE:AEM)Agnico Eagle Mines Limited NYSE: AEM is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.
Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Agnico Eagle Mines (AEM - Free Report) came out with quarterly earnings of $3.05 per share, beating the Zacks Consensus Estimate of $2.89 per share. This compares to earnings of $1.94 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +5.54%. A quarter ago, it was expected that this gold mining company would post earnings of $3.19 per share when it actually produced earnings of $3.4, delivering a surprise of +6.58%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Agnico, which belongs to the Zacks Mining - Gold industry, posted revenues of $3.8 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.56%. This compares to year-ago revenues of $2.82 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Agnico shares have lost about 15.2% since the beginning of the year versus the S&P 500's gain of 8.5%.
What's Next for Agnico?While Agnico has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Agnico was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.73 on $3.84 billion in revenues for the coming quarter and $11.76 on $15.84 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining - Gold is currently in the bottom 6% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Idaho Strategic Resources, Inc. (IDR - Free Report) , is yet to report results for the quarter ended June 2026.
This company is expected to post quarterly earnings of $0.33 per share in its upcoming report, which represents a year-over-year change of +65%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Idaho Strategic Resources, Inc.'s revenues are expected to be $14.6 million, up 54% from the year-ago quarter.
Agnico Eagle investuje do Cadillac Mines zhruba C$60 milionů prostřednictvím soukromého umístění před IPO. Koupí 8,696 milionu akcií za C$6,90 za kus, pokud se IPO uzavře.
Key Takeaways Agnico Eagle agreed to invest about C$60 million in Cadillac Mines through private placement. AEM will buy 8.696 million shares at C$6.90 each, subject to Cadillac's IPO closing conditions. Agnico Eagle's investment supports its strategy of backing junior miners near core operating regions. Agnico Eagle Mines Limited (AEM - Free Report) announced that it has made an investment in Cadillac Mines Corporation through a private placement that will accompany Cadillac's initial public offering (IPO), reinforcing Agnico Eagle's commitment to high-potential gold exploration assets in Canada's prolific Abitibi Greenstone Belt.
Under the terms of the subscription agreement dated July 23, 2026, Agnico Eagle has agreed to purchase 8.696 million common shares of Cadillac Mines at C$6.90 per share, representing a total investment of approximately C$60 million. The transaction is subject to customary closing conditions, including the successful completion of Cadillac's IPO.
The investment forms part of Cadillac Mines' broader financing strategy as the company prepares to enter the public markets. Cadillac recently increased the size of its IPO, reflecting strong investor demand and support from strategic mining investors. Agnico Eagle's participation serves as a significant endorsement of Cadillac's exploration portfolio and long-term development prospects.
Following the completion of Cadillac Mines' IPO, Agnico Eagle will enter into a 180-day lock-up agreement with the IPO underwriters. Under the agreement, the company will not sell, transfer, pledge or otherwise dispose of its common shares, engage in hedging or similar transactions, or announce any such plans without the underwriters' prior written consent, subject to certain limited exceptions.
The company noted that, depending on market conditions, strategic priorities and other factors, it may increase or reduce its investment in Cadillac Mines over time.
The investment is consistent with AEM’s strategy of acquiring minority stakes in promising junior mining companies that control attractive exploration assets near its core operating regions. Such investments provide the company with early exposure to potential future discoveries while supporting exploration and resource development across the Abitibi district.
AEM shares have surged 17.3% in the past year compared with a 39.7% rise in the industry.
Image Source: Zacks Investment Research
AEM’s Zacks Rank & Key PicksAEM currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the Basic Materials space are CSW Industrials, Inc. (CSW - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Ternium S.A. (TX - Free Report) . CSW, CRS and TX carry a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CSW’s current-year earnings stands at $12.52 per share, implying a 20.6% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average surprise being 3.8%.
The Zacks Consensus Estimate for CRS’s current fiscal-year earnings is pegged at $10.58 per share, implying a 41.4% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 9%.
The Zacks Consensus Estimate for TX’s current-year earnings is pegged at $5.71 per share, indicating a 163.1% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, with the average surprise being 3.5%.
, /PRNewswire/ -- Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that it has entered into a subscription agreement dated July 23, 2026 (the "Subscription Agreement") with Cadillac Mines Corporation ("Cadillac"), pursuant to which Agnico Eagle agreed to acquire 8,696,000 common shares of Cadillac ("Common Shares") at a price of C$6.90 per Common Share for total consideration of C$60,002,400.00(the "Private Placement"). The Private Placement is subject to certain closing conditions, including the closing of Cadillac's initial public offering of Common Shares (the "IPO") pursuant to Cadillac's final long form base PREP prospectus dated July 23, 2026. The Private Placement is expected to close on or about August 5, 2026.
Prior to entering into the Subscription Agreement, Agnico Eagle owned 22,821,028 Common Shares, representing approximately 9.70% of the issued and outstanding Common Shares on a non-diluted basis. On closing of the Private Placement, Agnico Eagle is expected to own 31,517,028 Common Shares, representing approximately 11.09% of the issued and outstanding Common Shares on a non-diluted basis after giving effect to the IPO (assuming the issuance of all Common Shares qualified thereunder) and all other security issuances completed by Cadillac concurrently with the Private Placement.
Pursuant to a subscription agreement dated July 25, 2023 between Agnico Eagle and Cadillac, Agnico Eagle is entitled to certain rights, including the right to participate in equity financings in order to maintain its pro rata ownership interest in Cadillac at the time of such financing.
On closing of the IPO, Agnico Eagle will enter into a lock-up agreement in favour of the underwriters of the IPO, pursuant to which it will agree that it will not, directly or indirectly, without the prior written consent of the underwriters: (a) offer, sell, pledge or otherwise dispose of any Common Shares or any securities convertible into or exercisable or exchangeable for Common Shares (collectively, the "Locked-Up Securities"); (b) make any short sale, engage in any hedging or enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Locked-Up Securities; or (c) agree to or publicly announce any intention to do any of the foregoing, in each case, for a period of 180 days following the closing date of the IPO, subject to certain limited exceptions.
Agnico Eagle is acquiring the Common Shares as part of its strategy of acquiring strategic positions in prospective opportunities with high geological potential. Depending on market conditions, strategic priorities and other factors, Agnico Eagle may, from time to time, acquire additional Common Shares or other securities of Cadillac or dispose of some or all of the Common Shares or other securities of Cadillac that it owns at such time.
An early warning report will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact:
Investor Relations
Agnico Eagle Mines Limited
145 King Street East, Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Email: [email protected]
Agnico Eagle's head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. Cadillac's head office is located at 123 Front Street West, Suite 905, Toronto, Ontario M5J 2M2.
About Agnico Eagle
Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. Agnico Eagle is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
Forward-Looking Statements
The information in this news release has been prepared as at July 24, 2026. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "may", "will" or similar terms.
Forward-looking statements in this news release include, without limitation, statements relating to Agnico Eagle's acquisition of Common Shares pursuant to the Private Placement and expected ownership interest in Cadillac, the closing of the Private Placement and IPO and the agreements to be entered into in connection therewith, and Agnico Eagle's acquisition or disposition of securities of Cadillac in the future.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Other than as required by law, Agnico Eagle does not intend, and does not assume any obligation, to update these forward-looking statements.
Agnico Eagle v 1. čtvrtletí vrátila akcionářům 375 mil. USD na dividendách a odkupu akcií, zhruba polovinu volného cash flow. Letos cílí na návrat asi 40 % volného cash flow.
Key Takeaways Agnico Eagle returned $375M in Q1 2026 via dividends and buybacks, about half of free cash flow.AEM raised its quarterly dividend 12.5% and renewed a $2B share repurchase program in May 2026.AEM aims to return about 40% of free cash flow to shareholders this year after roughly one-third in 2025. Agnico Eagle Mines Limited (AEM - Free Report) is leveraging its strong cash flow to boost shareholder value through dividends and share buybacks. AEM returned $375 million in the first quarter of 2026 through dividends and share buybacks, accounting for around half of its free cash flow.
Agnico Eagle raised its quarterly dividend by 12.5% to 45 cents per share in February 2026. It also renewed its normal course issuer bid (NCIB) in May 2026, allowing it to repurchase and cancel up to $2 billion worth of its common shares.
AEM’s first-quarter free cash flow climbed 23% year over year to roughly $732 million. Free cash flow was a record $4.4 billion in 2025, up 105% year over year. The upside was backed by higher realized gold prices and robust operational results.
AEM returned around $1.4 billion to its shareholders in 2025, representing a third of its free cash flow. It sees the potential to increase that to roughly 40% this year.
Agnico Eagle is executing a disciplined capital allocation strategy, capitalizing on its strong cash generation to enhance shareholder value, support a robust pipeline of growth projects and reduce debt. With gold prices staying supportive despite the recent selloff, AEM is well-positioned to sustain this shareholder-focused approach.
Among its peers, Barrick Mining Corporation (B - Free Report) generates healthy cash flows, positioning itself well to take advantage of attractive development and exploration opportunities and drive shareholder value. Barrick returned $2.4 billion to its shareholders in 2025 through dividends and repurchases. It repurchased shares worth $1.5 billion last year. Barrick’s board authorized a new $3 billion share buyback program. Its new dividend policy targets a total payout of 50% of attributable free cash flow on an annualized basis.
Newmont Corporation (NEM - Free Report) has distributed $3.4 billion to its shareholders through dividends and share repurchases in 2025. It has returned $2.7 billion to its shareholders since Feb. 19, 2026. Newmont has executed buybacks of $6 billion under the earlier authorized share repurchase programs, including $2.4 billion since the fourth-quarter 2025 earnings call. NEM’s board has approved an additional $6 billion repurchase program.
The Zacks Rundown for AEMAgnico Eagle’s shares have rallied 27.7% in the past year against the Zacks Mining – Gold industry’s growth of 46.6%.
Image Source: Zacks Investment Research
From a valuation standpoint, AEM is currently trading at a forward 12-month earnings multiple of 11.3, a roughly 21% premium to the industry average of 9.34X. It carries a Value Score of C.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AEM’s 2026 and 2027 earnings implies a year-over-year rise of 59.7% and 0.7%, respectively. The EPS estimates for 2026 and 2027 have been trending higher over the past 60 days.
Agnico Eagle Mines dočasně zastavila těžbu v Barnat pit v Canadian Malartic po pohybu horninového masivu, bez zranění a škod. Druhá polovina produkce v Canadian Malartic má klesnout o 60 000 až 80 000 uncí.
Key Takeaways AEM halted Barnat pit mining after a July 1 rock mass movement, with no injuries or damage.Stockpiled low-grade ore will keep the Canadian Malartic plant running during the shutdown.AEM sees second-half Malartic output down 60,000-80,000 ounces, with 2026 near low-end guidance. Agnico Eagle Mines Limited (AEM - Free Report) has temporarily suspended mining operations at the Barnat open pit at its Canadian Malartic complex in Quebec due to a rock mass movement that occurred on July 1, 2026, along the north wall of the Barnat open pit. Although there were no injuries, equipment damage or environmental impacts, as a precautionary measure, the company has taken this step.
The affected area had previously been identified to have a geologically weaker structure and was under enhanced monitoring, with safety exclusion zones in place. Technical teams are now conducting a detailed geotechnical assessment to confirm the stability and determine the future path. During the temporary shutdown, the Canadian Malartic processing plant will continue operating using low-grade ore from existing stockpiles to help reduce the near-term impact on production.
The company noted that the second-quarter 2026 production remains unaffected and its expectations of approximately 845,000 ounces of gold production are slightly ahead of plan. However, the company estimates the disruption will reduce second-half production at Canadian Malartic by 60,000-80,000 ounces, taking the full-year output near the lower end of its previously issued guidance of 3.3 million to 3.5 million ounces. The annual expectation of production in 2027 and 2028 was also reduced up to roughly 150,000 ounces, while mitigation measures are being evaluated. The Barnat pit was scheduled to be mined out by early 2029.
The incident is not expected to affect the development or production outlook for the Odyssey mine. The company stays aligned with its long-term goal of achieving annual production of 1 million ounces from the Canadian Malartic complex in the early 2030s.
AEM’s shares have gained 26% over the past year compared with the industry’s 41.3% growth.
Image Source: Zacks Investment Research
AEM’s Zacks Rank & Key PicksAEM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Albemarle Corporation (ALB - Free Report) , Ingevity Corporation (NGVT - Free Report) and Avino Silver & Gold Mines Ltd. (ASM - Free Report) .
While ALB sports a Zacks Rank #1 (Strong Buy) at present, NGVT and ASM carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for ALB’s 2026 earnings is pinned at $12.98 per share, indicating a 1,743.04% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed one, with an average surprise of 74.5%. ALB’s shares have jumped 106.9% over the past year.
The Zacks Consensus Estimate for NGVT’s 2026 earnings is pegged at $5.05 per share, indicating a rise of 22.28% year over year. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters.
The Zacks Consensus Estimate for ASM’s current fiscal-year earnings is pinned at 34 cents per share, indicating a 17.24% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 125%. ASM’sshares have gained 78.1% over the past year.
Agnico Eagle dočasně zastavila těžbu v otevřeném dole Barnat v Canadian Malartic po pohybu horniny; nikdo nebyl zraněn a nevznikly žádné škody ani dopad na životní prostředí. Firma očekává pokles produkce ve druhé polovině roku 2026 o 60 000 až 80 000 uncí zlata.
, /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") reports that a rock mass movement occurred on July 1, 2026, along the north wall of the Barnat open pit at the Canadian Malartic complex in Quebec, Canada. There were no injuries, equipment damage or environmental impact as a result of the event. As a precautionary measure, the Company has temporarily suspended mining operations in the Barnat open pit.
The rock mass movement occurred within an area that had been previously identified as having weaker geological structures within the north wall at Barnat and was subject to enhanced geotechnical monitoring in accordance with established mine planning and safety protocols, including safety exclusion zones.
The Company's technical teams are conducting a detailed geotechnical assessment to confirm the stability of the affected area and determine the appropriate path forward. Planning activities are underway to support the safe and orderly resumption of operations in the Barnat pit. Safety remains the Company's highest priority.
During the suspension of in-pit mining operations, the Canadian Malartic processing plant will be supplied with low-grade ore from existing stockpiles in place of planned Barnat ore feed. This approach is expected to help mitigate the near-term impact on production.
Production in the second quarter of 2026 was not affected and the Company expects production for the second quarter of approximately 845,000 ounces of gold, slightly ahead of plan. However, based on currently available information, the Company expects the rock mass movement to reduce production in the second half of 2026 at Canadian Malartic by approximately 60,000 to 80,000 ounces of gold. Accordingly, the Company expects full year 2026 production to be near the lower end of its previously disclosed guidance range of 3.3 million to 3.5 million ounces of gold.
The Barnat open pit was expected to be mined out by early 2029. While the Company's geotechnical assessment remains ongoing, the event is currently expected to result in reduced production in both 2027 and 2028 of up to approximately 150,000 ounces of gold per year. The Company is continuing to evaluate opportunities to mitigate this potential impact to its production outlook.
Importantly, the Company believes that the rock mass movement will not affect the development or production outlook for the Odyssey mine and does not change the pathway to achieving annual production of 1 million ounces of gold from the Canadian Malartic complex in the early 2030s.
The Company will continue to advance its geotechnical assessment and refine the timing for a safe restart of mining operations at the Barnat open pit. Further updates to production and cost guidance will be provided with the Company's second quarter 2026 results, scheduled for release after market close on July 29, 2026.
About Agnico Eagle
Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. Agnico Eagle is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
For further information regarding Agnico Eagle, contact Investor Relations at [email protected] or call (416) 947-1212.
Forward-Looking Statements
Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could, or may or will occur are forward-looking statements. When used in this news release, the words "could", "estimate", "expect", "guide", "may", "pathway", "plan", "potential", "schedule", "will", and similar expressions are intended to identify forward-looking statements.
Forward-looking statements in this news release include, without limitation, statements relating to the Company's forward-looking guidance, including gold production for 2026, 2027 and 2028; life of mine estimates; the use of low-grade stock piles at the Canadian Malartic processing facility; the potential to mitigate the impact production impacts from the rock mass movement; the target to achieve annual production of 1 million ounces of gold from the Canadian Malartic complex in the early 2030s; the expected impact of the rock mass movement on the development and production outlook of the Odyssey mine; the expected environmental impact of the rock mass movement; and the potential to restart mining operations at the Barnat pit. Such statements reflect the Company's views as at the date of this news release and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material factors and assumptions used in the preparation of the forward-looking statements contained herein, which may prove to be incorrect, include, but are not limited to, the assumptions set forth herein and in management's discussion and analysis for the year ended December 31, 2025 (the "2025 MD&A") and the Company's Annual Information Form (the "AIF") for the year ended December 31, 2025 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the year ended December 31, 2025 (the "Form 40-F") filed with the U.S. Securities and Exchange Commission (the "SEC") as well as: that there are no significant disruptions affecting operations; that production, permitting, development, expansion and the operations at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the Company's plans for its mining operations are not changed or amended in a material way; that the relevant metal prices, foreign exchange rates and prices for key mining and construction inputs (including labour and electricity) will be consistent with Agnico Eagle's expectations; that the effect of tariffs or trade disputes will not materially affect the price or availability of the inputs the Company uses at its operations; that Agnico Eagle's current estimates of mineral reserves, mineral resources, mineral grades and metal recovery are accurate; that there are no material delays in the timing for completion of ongoing growth projects; that seismic activity at the Company's operations at LaRonde, Goldex, Fosterville and other properties is as expected by the Company and that the Company's efforts to mitigate its effect on mining operations, including with respect to community relations, are successful; that the Company's current plans to address climate change and reduce greenhouse gas emissions are successful; that the Company's current plans to optimize production are successful; that there are no material variations in the current tax and regulatory environment; that governments, the Company or others do not take measures in response to pandemics or other health emergencies or otherwise that, individually or in the aggregate, materially affect the Company's ability to operate its business or its productivity; and that measures taken relating to, or other effects of, pandemics or other health emergencies do not affect the Company's ability to obtain necessary supplies and deliver them to its mine sites. Many factors, known and unknown, could cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, project development, capital expenditures and other costs; foreign exchange rate fluctuations; inflationary pressures; financing of additional capital requirements; cost of exploration and development programs; seismic activity at the Company's operations, including at LaRonde, Goldex and Fosterville; mining risks; community protests, including by Indigenous groups; risks associated with foreign operations; risks associated with joint ventures; governmental and environmental regulation; the volatility of the Company's stock price; risks associated with the Company's currency, fuel and by-product metal derivative strategies; the current interest rate environment; the potential for major economies to encounter a slowdown in economic activity or a recession; the potential for increased conflict or hostilities in various regions, including Europe, South America and the Middle East; and the extent and manner of communicable diseases or outbreaks, and measures taken by governments, the Company or others to attempt to mitigate the spread thereof may directly or indirectly affect the Company. For a more detailed discussion of such risks and other factors that may affect the Company's ability to achieve the expectations set forth in the forward-looking statements contained in this news release, see the AIF and 2025 MD&A filed on SEDAR+ at www.sedarplus.ca and included in the Form 40-F filed on EDGAR at www.sec.gov, as well as the Company's other filings with the Canadian securities regulators and the SEC. Other than as required by law, the Company does not intend, and does not assume any obligation, to update these forward-looking statements.
Agnico Eagle Mines vykázala v 1. čtvrtletí volný peněžní tok asi 732 mil. USD, meziročně o 23 % více, a silné peněžní toky financují růstové projekty. V roce 2025 dosáhl volný peněžní tok rekordu 4,4 mld. USD.
Key Takeaways Agnico Eagle's strong free cash flows support growth projects and financial flexibility.AEM is investing strong cash flows in major projects, including Odyssey, Detour Lake and Hope Bay.AEM's 2026 and 2027 EPS estimates have moved higher over the past 60 days. Agnico Eagle Mines Limited (AEM - Free Report) logged first-quarter free cash flow of roughly $732 million, climbing 23% year over year. The upside was backed by higher gold prices and robust operational results. Operating cash flow was roughly $1.3 billion in the first quarter, up around 29% from the year-ago quarter.
Notably, AEM’s free cash flow surged 105% year over year to a record $4.4 billion in 2025. Operating cash flow for full-year 2025 was also a record $6.8 billion, driven by operational efficiencies.
AEM’s strong liquidity position and substantial cash flows allow it to maintain a strong exploration budget and fund a robust pipeline of growth projects. The strong free cash flow supports investments in growth initiatives, including the Odyssey project in the Canadian Malartic Complex, Detour Lake, Hope Bay, Upper Beaver and San Nicolas.
A robust free cash flow generation places AEM firmly in the upper tier of gold producers. This allows the company to pivot these funds into high-return growth initiatives, enhance its shareholder returns and further accelerate debt reduction.
Among Agnico Eagle’s peers, Newmont Corporation (NEM - Free Report) registered a record quarterly free cash flow in the first quarter, underpinned by its operational efficiency, the strength of its asset portfolio and higher gold and silver prices. NEM’s free cash flow surged 161% year over year to $3.1 billion in the first quarter, led by an increase in net cash from operating activities and lower capital investment. Newmont, on its first-quarter call, said that it expects to continue delivering strong free cash flows in 2026, aided by its world-class portfolio.
Barrick Mining Corporation (B - Free Report) generates strong cash flows, with a significant portion funneled back to its investors. In the first quarter, Barrick generated strong operating cash flows of roughly $2.6 billion, up 111% year over year. Barrick’s attributable free cash flow shot up 195% year over year to around $1.2 billion.
The Zacks Rundown for AEMAgnico Eagle’s shares have gained 30.4% in the past year against the Zacks Mining – Gold industry’s rise of 43.2%.
Image Source: Zacks Investment Research
From a valuation standpoint, AEM is currently trading at a forward 12-month earnings multiple of 11.56, a roughly 23.6% premium to the industry average of 9.35X. It carries a Value Score of C.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AEM’s 2026 and 2027 earnings implies a year-over-year rise of 59.4% and 1.6%, respectively. The EPS estimates for 2026 and 2027 have been trending higher over the past 60 days.
