CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Canada's Agnico Eagle Q3 adjusted EPS beats on higher realized gold prices

By Reuters News


Overview

  • Canada gold miner's Q3 adjusted EPS beat analyst expectations

  • Gold production fell yr/yr due to lower output at Canadian Malartic and Meadowbank

  • Company returned $478 mln to shareholders via dividends and share repurchases in Q3


Outlook

  • Agnico Eagle expects 2026 gold production near lower end of 3.3-3.5 mln oz range

  • Company sees 2026 total cash costs per oz and AISC per oz near upper end of guidance

  • 2026 capital expenditures expected between $2.6 bln and $2.8 bln; capitalized exploration $290 mln-$330 mln


Result Drivers

  • HIGHER GOLD PRICES - Co said higher realized gold prices drove increased net income and adjusted EBITDA

  • COST PRESSURES - Co said increased production costs were mainly due to higher labour, diesel, and royalty expenses

  • PROJECT INVESTMENT - Co said higher development capital expenditures at Hope Bay, Odyssey and Detour Lake contributed to lower free cash flow


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted EPS

Beat

$2.62

$2.61 (9 Analysts)

Q3 Net Income

$1.35 bln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the gold peer group is "buy"

  • Wall Street's median 12-month price target for Agnico Eagle Mines Limited is C$312.50, about 23.2% above its October 27 closing price of C$253.75

  • The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 11 three months ago


Reuters Recommended Reads

  • Oct 27 - Freeport-McMoRan Q3 revenue rises on higher copper prices

  • Oct 28 - Canada's Amerigo Resources Q3 net income surges on higher copper prices

  • Oct 27 - Peru's Antamina copper mine halts operations after worker death


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.