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Agnico Eagle's Q2 Earnings Beat Estimates on Higher Gold Prices
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Key Takeaways
{\"0\":\"AEM posted Q2 EPS of $1.94 and revenue of $2.82B, topping estimates and rising sharply year over year.\",\"1\":\"Higher realized gold prices of $3,288/oz boosted results despite lower production and rising costs.\",\"2\":\"Cash from operations jumped to $1.85B, while AEM raised cash reserves 69% year over year to $1.56B.\"}
Agnico Eagle Mines Limited (AEM - Free Report) reported adjusted earnings of $1.94 per share for the second quarter of 2025, up from $1.07 in the year-ago quarter. The bottom line topped the Zacks Consensus Estimate of $1.83.
The company generated revenues of $2,816.1 million, up nearly 35.6% year over year. The top line surpassed the Zacks Consensus Estimate of $2,553 million.
Agnico Eagle Mines Limited Price, Consensus and EPS Surprise
Payable gold production was 866,029 ounces in the reported quarter, down from 895,838 ounces in the prior-year quarter. The figure missed our estimate of 866,598 ounces.
Total cash costs per ounce for gold were $933, up from $870 a year ago. It outpaced our estimate of $918.
Realized gold prices were $3,288 per ounce in the quarter, up from $2,342 a year ago. It beat our estimate of $2,929.
All-in-sustaining costs (AISC) were $1,289 per ounce in the quarter compared with $1,169 per ounce a year ago. It surpassed our estimate of $1,212.
AEM’s Financial Position
AEM ended the quarter with cash and cash equivalents of $1,558 million, up 69% year over year. Long-term debt was around $544.6 million.
Total cash from operating activities amounted to $1,845 million in the second quarter, up from $961 million a year ago.
AEM’s Outlook
For full-year 2025, the company expects gold production to range between 3.3 and 3.5 million ounces, with a midpoint estimate of 3.4 million ounces. Total cash costs per ounce are projected between $915 and $965, while AISC is forecast in the range of $1,250 to $1,300 per ounce, with a midpoint of $1,275.
Exploration and corporate development expenses are expected to be between $215 million and $235 million, with a midpoint of $225 million. Depreciation and amortization expenses are forecasted to be $1.55-$1.75 billion, averaging $1.65 billion. The company anticipates general and administrative expenses to fall in the $190 million to $210 million range, with other costs projected between $105 million and $115 million.
The effective tax rate for 2025 is expected to be between 33% and 38%, with cash taxes estimated in the range of $1.1 billion to $1.2 billion. The company also plans capital expenditures (excluding capitalized exploration) of $1.75 billion to $1.95 billion, and capitalized exploration spending is forecasted between $290 million and $310 million.
AEM’s Price Performance
Agnico Eagle’s shares have gained 71.1% in the past year compared with a 44.2% rise of the industry.
Image Source: Zacks Investment Research
AEM’s Zacks Rank & Other Key Picks
AEM currently carries a Zacks Rank #1 (Strong Buy).
Other top-ranked stocks worth a look in the basic materials space include Royal Gold, Inc. (RGLD - Free Report) , Avino Silver & Gold Mines Ltd. (ASM - Free Report) and Barrick Mining Corporation (B - Free Report) .
Royal Gold is slated to report second-quarter results on Aug 6. The Zacks Consensus Estimate for earnings is pegged at $1.70. RGLD beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 9%. RGLD carries a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Avino Silver is scheduled to report second-quarter results on Aug 13. The Zacks Consensus Estimate for ASM’s second-quarter earnings is pegged at 3 cents. ASM beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 104.2%. ASM currently carries a Zacks Rank #1.
Barrick Mining is slated to report second-quarter results on Aug 11. The consensus estimate for Barrick’s earnings is pegged at 47 cents. Barrick, carrying a Zacks Rank #1, beat the consensus estimate in three of the last four quarters, with the average earnings surprise being 12.5%.
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Agnico Eagle's Q2 Earnings Beat Estimates on Higher Gold Prices
Key Takeaways
Agnico Eagle Mines Limited (AEM - Free Report) reported adjusted earnings of $1.94 per share for the second quarter of 2025, up from $1.07 in the year-ago quarter. The bottom line topped the Zacks Consensus Estimate of $1.83.
The company generated revenues of $2,816.1 million, up nearly 35.6% year over year. The top line surpassed the Zacks Consensus Estimate of $2,553 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 866,029 ounces in the reported quarter, down from 895,838 ounces in the prior-year quarter. The figure missed our estimate of 866,598 ounces.
Total cash costs per ounce for gold were $933, up from $870 a year ago. It outpaced our estimate of $918.
Realized gold prices were $3,288 per ounce in the quarter, up from $2,342 a year ago. It beat our estimate of $2,929.
All-in-sustaining costs (AISC) were $1,289 per ounce in the quarter compared with $1,169 per ounce a year ago. It surpassed our estimate of $1,212.
AEM’s Financial Position
AEM ended the quarter with cash and cash equivalents of $1,558 million, up 69% year over year. Long-term debt was around $544.6 million.
Total cash from operating activities amounted to $1,845 million in the second quarter, up from $961 million a year ago.
AEM’s Outlook
For full-year 2025, the company expects gold production to range between 3.3 and 3.5 million ounces, with a midpoint estimate of 3.4 million ounces. Total cash costs per ounce are projected between $915 and $965, while AISC is forecast in the range of $1,250 to $1,300 per ounce, with a midpoint of $1,275.
Exploration and corporate development expenses are expected to be between $215 million and $235 million, with a midpoint of $225 million. Depreciation and amortization expenses are forecasted to be $1.55-$1.75 billion, averaging $1.65 billion. The company anticipates general and administrative expenses to fall in the $190 million to $210 million range, with other costs projected between $105 million and $115 million.
The effective tax rate for 2025 is expected to be between 33% and 38%, with cash taxes estimated in the range of $1.1 billion to $1.2 billion. The company also plans capital expenditures (excluding capitalized exploration) of $1.75 billion to $1.95 billion, and capitalized exploration spending is forecasted between $290 million and $310 million.
AEM’s Price Performance
Agnico Eagle’s shares have gained 71.1% in the past year compared with a 44.2% rise of the industry.
Image Source: Zacks Investment Research
AEM’s Zacks Rank & Other Key Picks
AEM currently carries a Zacks Rank #1 (Strong Buy).
Other top-ranked stocks worth a look in the basic materials space include Royal Gold, Inc. (RGLD - Free Report) , Avino Silver & Gold Mines Ltd. (ASM - Free Report) and Barrick Mining Corporation (B - Free Report) .
Royal Gold is slated to report second-quarter results on Aug 6. The Zacks Consensus Estimate for earnings is pegged at $1.70. RGLD beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 9%. RGLD carries a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Avino Silver is scheduled to report second-quarter results on Aug 13. The Zacks Consensus Estimate for ASM’s second-quarter earnings is pegged at 3 cents. ASM beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 104.2%. ASM currently carries a Zacks Rank #1.
Barrick Mining is slated to report second-quarter results on Aug 11. The consensus estimate for Barrick’s earnings is pegged at 47 cents. Barrick, carrying a Zacks Rank #1, beat the consensus estimate in three of the last four quarters, with the average earnings surprise being 12.5%.