Agnico Eagle Reports Third Quarter Net Income of $1.35 Billion

The Tip Desk · November 2, 2026 · 2 min read

The gold miner generated $852 million in free cash flow during the period ending September 30, 2026.

Agnico Eagle Mines Limited (AEM), the gold mining company, reported net income of $1,353 million, or $2.67 a share, for the third quarter of 2026. The company generated $1,755 million in cash from operating activities and reported free cash flow of $852 million, or $1.68 a share.

Revenues from mining operations rose to $3,583.6 million in the third quarter, compared with $3,059.5 million in the same period in 2025. The company said that solid operational performance combined with realized gold prices of $4,264 per ounce in the third quarter resulted in strong free cash flow. Adjusted net income for the quarter was $1,324 million, or $2.62 a share.

Payable gold production for the quarter was 814,012 ounces. The company reported production costs per ounce of $1,193, total cash costs per ounce of $1,133, and all-in sustaining costs of $1,648 per ounce. Operational performance was led by the company's Detour Lake, Fosterville, and Kittila sites.

Capital expenditures for the three months ended September 30, 2026, included $902.8 million for additions to property, plant and mine development. This compared with $626.3 million for the same period in 2025. The company also spent $189.8 million on the purchase of equity securities and other investments during the quarter.

For the first nine months of 2026, net income reached $4,648.8 million, up from $2,938.4 million in the same period of 2025. Total revenues for the nine-month period were $11,486 million, compared with $8,343.9 million in the prior year.

Management stated the company remains on track to achieve full year 2026 guidance. Production is expected to finish near the lower end of the guidance range, while costs are expected to remain within the range despite inflationary cost pressures.

The company is advancing several growth projects, including ramping up construction at Hope Bay. The first phase of shaft sinking at Odyssey was complete. Infrastructure projects are also continuing at Upper Beaver and Detour Lake.