Agnico Eagle Posts Record Quarterly Free Cash Flow and Net Income

Agnico Eagle Mines Limited (AEM) reported its second quarter 2026 results on July 29, 2026. The company's President and Chief Executive Officer Ammar Al-Joundi stated that 'Our high-quality portfolio delivered another strong quarter, with better-than-planned production and disciplined cost control driving strong margins and record quarterly free cash flow.'

The company achieved solid operating performance in the second quarter of 2026, led by Detour Lake, Kittila, and Fosterville. Payable gold production was 855,816 ounces at a production cost per ounce of $1,114, total cash costs per ounce of $1,054, and all-in sustaining costs (AISC) per ounce of $1,459.

Agnico Eagle generated record quarterly free cash flow due to solid production and disciplined cost control, combined with realized gold prices of $4,483 per ounce in the second quarter. The company reported net income of $1,600 million or $3.19 per share and adjusted net income of $1,541 million or $3.07 per share.

The company increased its cash balance by $352 million to $3,464 million as at June 30, 2026, resulting in a net cash position of $3,267 million with total debt outstanding of $197 million as at June 30, 2026. Fitch Ratings upgraded the Company's long-term issuer default rating from BBB+ to A- in April 2026.