Agnico Eagle Mines Limited reported third‑quarter 2025 results, posting net income of $1.055 billion and adjusted net income of $1.085 billion. Production reached 866,936 ounces of gold at a realized price of $3,476 per ounce, while total cash costs climbed to $994 per ounce. Operating cash flow was $1.816 billion and free cash flow $1.190 billion, supporting a net cash position of $2.16 billion as of September 30, 2025.
Compared with the same quarter in 2024, net income increased 86% from $567.1 million and adjusted net income rose 90% from $572.6 million. Production growth was driven by strong output from the Meadowbank Complex and LaRonde operations, which were the company’s leading contributors this quarter.
Higher operating costs were driven by inflationary pressures on labor and energy, while royalty costs increased because many of Agnico Eagle’s agreements are price‑linked. These factors offset the benefit of the higher realized gold price, resulting in total cash costs of $994 per ounce.
The company reaffirmed its 2025 guidance, projecting gold production of 3.3–3.5 million ounces, total cash costs of $915–$965 per ounce, and all‑in sustaining costs of $1,250–$1,300 per ounce. Management emphasized disciplined cost control and the positive impact of the elevated gold price exposure, stating the company remains on track to meet its full‑year targets.
Agnico Eagle’s financial strength was highlighted by a Moody’s credit rating upgrade to A3 from Baa1 in August 2025, and the company continues to invest in its five key pipeline projects while expanding into critical minerals through its subsidiary Avenir Minerals Limited.
A conference call to discuss the results will be held on Thursday, October 30 at 11:00 a.m. Eastern Time.
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