Agnico Eagle Mines Limited AEM reported earnings of $3.41 per share for the first quarter of 2026, up from $1.53 in the year-ago quarter.
Barring one-time items, earnings were $3.40 per share, up from $1.53 a year ago, beating the Zacks Consensus Estimate of $3.19.
The company generated revenues of $4,099.6 million, up 66.1% year over year. The top line surpassed the Zacks Consensus Estimate of $3,842.8 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 825,109 ounces in the reported quarter, down 5.6% from 873,794 ounces in the prior-year quarter. The figure missed our estimate of 859,426 ounces.
Total cash costs per ounce for gold were $1,093, up from $895 a year ago. It topped our estimate of $1,057.
Realized gold prices were $4,861 per ounce in the quarter, up from $2,891 a year ago. It outpaced our estimate of $4,167.
All-in-sustaining costs were $1,483 per ounce in the quarter compared with $1,175 a year ago. It was higher than our estimate of $1,353.
AEM’s Financial Position
AEM ended the quarter with cash and cash equivalents of $3,112 million, up 8.6% sequentially. Long-term debt was $197 million.
Total cash from operating activities amounted to $1,346 million in the first quarter, up from $1,044 million a year ago.
AEM’s Outlook
For full-year 2026, the company maintains gold production expectations between 3.3 million and 3.5 million ounces, with production now expected to be weighted 48% to the first half and 52% to the second half. Total cash costs per ounce are projected between $1,020 and $1,120, while AISC is forecast in the range of $1,400 to $1,550 per ounce.
The company expects capital expenditures, excluding capitalized exploration, to be between $2.175 billion and $2.395 billion. Capitalized exploration is projected in the range of $290 million to $330 million.
Exploration and corporate development expenses are expected to be between $275 million and $305 million. Depreciation and amortization expenses are forecast in the range of $1.55-$1.75 billion.
The company anticipates general and administrative expenses between $230 million and $260 million. Other costs are projected between $75 million and $95 million.
AEM expects NTI payments of $185-$195 million for 2026. The effective tax rate is projected between 34% and 36%, with cash taxes estimated in the range of $3.4-$3.6 billion.
AEM’s Price Performance
AEM shares have surged 51.1% in the past year compared with an 63% rise in the industry.
AEM’s Zacks Rank & Key Picks
AEM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth a look in the basic materials space are CF Industries Holdings, Inc. CF, Aris Mining Corporation ARIS, and Hawkins, Inc. HWKN.
CF Industries is slated to report first-quarter 2026 results on May 6. The Zacks Consensus Estimate for earnings is pegged at $2.35 per share, indicating 27.03% year-over-year growth. CF sports a Zacks Rank #1 (Strong Buy) at present.
Aris Mining is slated to report quarterly results on May 6. The Zacks Consensus Estimate for earnings is pegged at 67 cents per share, indicating 318.75% year-over-year growth. ARIS has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hawkins is scheduled to report fiscal fourth-quarter results on May 13. The Zacks Consensus Estimate for HWKN’s fourth-quarter earnings is pegged at 77 cents per share. HWKN currently has a Zacks Rank #2.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CF Industries Holdings, Inc. (CF): Free Stock Analysis Report
Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report
Aris Mining Corporation (ARIS): Free Stock Analysis Report
Hawkins, Inc. (HWKN): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).