OTTAWA (dpa-AFX) - Agnico Eagle Mines Ltd. (AEM) on Wednesday reported strong second-quarter 2026 results as higher gold prices and production lifted earnings.
Revenue from mining operations increased 35.0 percent to $3.80 billion from $2.82 billion a year earlier. Net income rose 49.8 percent to $1.60 billion from $1.07 billion, while earnings per share increased to $3.19 from $2.13.
For the first six months of 2026, revenue climbed 49.6 percent to $7.90 billion from $5.28 billion. Net income advanced 75.0 percent to $3.30 billion from $1.88 billion, and earnings per share improved to $6.58 from $3.75.
The company generated second-quarter adjusted EBITDA of $2.74 billion, up from $1.91 billion a year earlier.
Agnico Eagle said it now expects full-year 2026 gold production to be near the lower end of its previously guided 3.3 million to 3.5 million ounces range due to the Barnat open pit redesign at Canadian Malartic.
Total capital expenditures have been increased to $2.61 billion-$2.83 billion from the previous $2.20 billion-$2.40 billion, reflecting approved construction activities at the Hope Bay project. The company maintained its guidance for total cash costs, all-in sustaining costs, capitalized exploration, and effective tax rate.
AEM closed Wednesday's trading at $144.43 up $0.72 or 0.50 percent on the New York Stock Exchange.
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