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Agnico Eagle Mines Ltd
XMUN:AE9

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Agnico Eagle Mines Ltd
XMUN:AE9
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Price: 160.9 EUR -1.62% Market Closed
Market Cap: €23.5B

Agnico Eagle Mines Ltd
Investor Relations

Agnico Eagle Mines is a gold mining company. It explores for, develops, and operates mines that produce gold, with some silver and other byproducts. The company’s work starts deep in the ground and ends with metal sold into the global bullion and industrial markets. Its main customers are not retail shoppers but refiners, bullion buyers, and institutions that purchase mined gold. Agnico Eagle makes money by selling the gold it extracts, so its business depends on finding ore bodies, building mines, and running them efficiently over many years. It also spends heavily on exploration to replace what its mines produce. What makes Agnico Eagle different is that it sits at the core of the gold value chain: it is a producer, not a dealer or jewelry brand. Its business is tied to geology, mine development, and operating large industrial sites in remote regions, which makes execution, permitting, and resource quality far more important than marketing or consumer demand.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
May 1, 2026
AI Summary
Q1 2026

Record quarter: Agnico Eagle said Q1 was a strong start to the year, with production slightly above budget, costs in line with guidance, and another quarter of record net income and record operating margins.

Cash returns: The company returned $375 million to shareholders in the quarter and lifted its normal course issuer bid to $2 billion, with buybacks expected to accelerate later in the year.

Guidance intact: Management reiterated 2026 production and cost guidance, and said full-year production is weighted 48%/52% between the first and second halves.

Growth pipeline: The company emphasized steady progress on major projects including Detour, Malartic, Hope Bay, Upper Beaver, San Nicolas, and the newly consolidated Finland platform.

Safety concern: Ammar Al-Joundi acknowledged 2 fatalities over the past 5 months, called them unacceptable, and said the company has reinforced safety expectations across the organization.

Key Financials
Adjusted net income
$1.7 billion
Adjusted earnings per share
$3.41
Adjusted EBITDA
just over $3 billion
Free cash flow
$730 million
Cash taxes paid
$1.8 billion
2025 tax catch-up
$1.3 billion
Gold production
approximately 825,000 ounces
Total cash costs
$1,093 per ounce
All-in sustaining costs
$1,483 per ounce
Average diesel price assumption
$0.78 per liter
Diesel consumption
approximately 108 liters per ounce of gold produced
Diesel sensitivity
$6 per ounce
Shareholder returns
$375 million
Normal course issuer bid
$2 billion
Net cash
$2.9 billion
Cash
$3.1 billion
Drilling
nearly 360 kilometers
Rigs
127 rigs
Capital spending
about $3 billion this year
Hope Bay initial capital
slightly over $2 billion
Hope Bay throughput
6,000 tonnes per day
Malartic underground update timing
September
East Gouldie first stope depth
approximately 1 kilometer underground
Upper Beaver ramp advancement
over 500 meters
Upper Beaver shaft depth
382 meters
Detour ramp advancement
just over 820 meters
Detour ramp depth
about 147 meters
Earnings Call Recording
Other Earnings Calls

Management

Mr. Ammar Al-Joundi M.B.A.
CEO, President & Director

Ammar Al-Joundi is a prominent executive in the mining sector, known for his significant contributions to Agnico Eagle Mines Limited, a major Canadian gold producer with mining operations in Canada, Finland, and Mexico. Al-Joundi holds a Master of Business Administration (MBA) and has extensive experience in the financial and mining industries. Before assuming the role of President at Agnico Eagle, Al-Joundi developed a sophisticated understanding of finance and operations in the mining sector through various senior roles. His career includes key positions at Barrick Gold Corporation, where he served as Chief Financial Officer. His expertise lies in strategic financial management, capital allocation, and corporate development. At Agnico Eagle, he is recognized for his leadership in advancing the company’s growth strategy while emphasizing sustainability and operational excellence. His tenure has seen significant expansions and developments, contributing to Agnico Eagle's reputation as one of the leading companies in the gold mining industry. Overall, Ammar Al-Joundi’s career reflects a blend of financial acumen and industry-specific knowledge, positioning him as a respected leader in the resource sector.

Mr. James R. Porter B.A.Sc., CPA, CA, CPA, (Illinois)
Executive VP of Finance & Chief Financial Officer

James R. Porter is a well-regarded executive in the mining industry, primarily associated with Agnico Eagle Mines Ltd. He holds a Bachelor of Applied Science (B.A.Sc.) degree, and he is a Chartered Professional Accountant (CPA, CA) in Canada, as well as a CPA in Illinois, USA. Mr. Porter serves as the Chief Financial Officer (CFO), Executive Vice President, and Comptroller at Agnico Eagle Mines Ltd. In his role, he is responsible for overseeing the company's financial operations, ensuring financial health, regulatory compliance, and strategic financial planning. His extensive expertise in finance and accounting is crucial for the company's large-scale operations and global mining ventures. Throughout his tenure, James Porter has been instrumental in fostering Agnico Eagle's growth, contributing to strategic acquisitions, and optimizing financial performance. His leadership is characterized by a focus on sustainable development and financial integrity, aligning with the company's commitment to responsible mining practices.

Mr. Jean Robitaille
Executive VP and Chief Strategy & Technology Officer

Jean Robitaille serves as the Senior Vice President of Business Strategy and Technical Services at Agnico Eagle Mines Ltd. He has been with the company for several decades, having joined in 1988, and has a wealth of experience in engineering, operations, and management within the mining industry. Throughout his tenure at Agnico Eagle, Robitaille has held various roles of increasing responsibility. His positions have spanned from engineering and operations-focused roles to executive management, where he has been instrumental in driving the company's strategic initiatives and technical advancements. Robitaille holds a Bachelor of Engineering in Mining and Mineral Engineering, which has provided him with a solid foundation for his work in the mining sector. His expertise has been vital in advancing Agnico Eagle's operational efficiency and growth strategies. Under his leadership, Agnico Eagle has implemented numerous technical innovations and improvements in operational processes, reinforcing the company’s position as a leading gold producer known for its high standards of environmental stewardship and safety. Robitaille’s contributions have been significant in shaping the company’s long-term strategic direction, aligning with its goals for sustainable and responsible mining. Throughout his career, Mr. Robitaille has been recognized for his technical acumen, leadership skills, and his commitment to integrating sustainable practices within the mining operations under his oversight.

Ms. Natasha Nella Dominica Vaz MBA, P. Eng.
Executive VP and COO of Ontario, Australia & Mexico

Natasha Nella Dominica Vaz, MBA, P.Eng., is a prominent executive in the mining industry, currently serving as a key figure at Agnico Eagle Mines Ltd., a leading Canadian gold mining company. With a solid background in engineering and business administration, Ms. Vaz has established herself as a proficient leader in her field. She holds a Master's in Business Administration and is a Professional Engineer, designations that underscore her expertise and leadership capabilities. Her career has been marked by strategic roles where she has driven significant operational and technological advancements. At Agnico Eagle, she is involved in overseeing operations and enhancing the company's output through innovative practices and sustainable methods. Natasha’s contributions to the mining sector are well-recognized, particularly in improving operational efficiencies and embedding new technologies that align with modern mining challenges. Her leadership style often emphasizes sustainable practices and safety, reflecting a commitment to both environmental responsibility and workforce welfare. Overall, Ms. Vaz is regarded as a dynamic and forward-thinking executive, consistently contributing to the growth and success of Agnico Eagle Mines Ltd. through her strategic vision and dedication to excellence.

Mr. Jean-Marie Clouet
Vice President of Investor Relations

Jean-Marie Clouet is a notable figure at Agnico Eagle Mines Limited, a leading Canadian gold mining company. As an executive team member, he serves a crucial role in steering the company's mining operations and strategic initiatives. Mr. Clouet has extensive experience in the mining industry, bringing a deep understanding of mining processes, project management, and operational leadership. His background and expertise aid Agnico Eagle Mines in its pursuit of efficient and sustainable mining practices. His contributions are significant in advancing the company’s goals and maintaining its reputation as a prominent player in the global mining sector.

Mr. Christopher Vollmershausen L.L.B.
Executive VP of Legal, General Counsel & Corporate Secretary

Christopher Vollmershausen is a distinguished legal and executive professional associated with Agnico Eagle Mines Ltd., a prominent Canadian gold mining company known for its operations in Canada, Finland, and Mexico. Mr. Vollmershausen holds a Bachelor of Laws (LL.B.) degree, signaling a robust educational foundation in legal studies. In his role at Agnico Eagle Mines, he has been instrumental in providing high-level legal guidance and strategic advice, integral to the company's operations and compliance frameworks. His expertise encompasses a wide range of legal matters, including corporate governance, mergers and acquisitions, regulatory compliance, and risk management. Christopher's contributions are vital to ensuring that Agnico Eagle adheres to legal standards and operates within the frameworks necessary for sustainable and ethical mining practices. His leadership and insights contribute significantly to the company's success and its reputation within the industry.

Mr. Peter J. Netupsky C.A., C.F.A., CPA
Vice President of Corporate Development
No Bio Available
Ms. Carol-Ann Plummer-Theriault B.Sc., Eng., P.Eng.
Executive Vice President of Sustainability, People & Culture
No Bio Available
Mr. Dominique Girard B.Sc., ENG., P.Eng.
Executive VP and COO of Nunavut, Quebec & Europe

Dominique Girard is known for his role at Agnico Eagle Mines Ltd., a major Canadian gold mining company. With a Bachelor of Science in Engineering, he holds the professional designation of P.Eng., which indicates his status as a licensed professional engineer in Canada. Girard has brought his engineering acumen and leadership skills to his executive role at Agnico Eagle, where he has been involved in various capacities related to the operations and development of the company's mining projects. His work typically involves overseeing technical projects, ensuring compliance with engineering standards, and managing teams to optimize mining operations efficiently and safely. His engineering expertise and leadership are vital in navigating the complexities of mining projects, from planning and development through to execution and operation, ensuring that Agnico Eagle continues to maintain its reputation as a leader in the mining industry.

Mr. Guy Gosselin Eng., Ing, M.Sc., P.Eng., P.Geo.
Executive Vice President of Exploration

Guy Gosselin is a prominent figure in the mining industry, particularly known for his work with Agnico Eagle Mines Ltd. He serves as the Senior Vice-President of Exploration at the company, where he oversees exploration activities and strategies. With a background in geology and engineering, Mr. Gosselin holds a Master's degree in Science (M.Sc.), and he is a registered Professional Engineer (P.Eng.) and Professional Geoscientist (P.Geo.). His career spans several decades, during which he has garnered extensive experience in mineral exploration and development. Under his leadership, Agnico Eagle has advanced various exploration projects and expanded their mineral resource base. Mr. Gosselin has been instrumental in discovering new deposits and enhancing the company's global exploration footprint. His expertise and contributions have been vital in refining Agnico Eagle's exploration techniques and ensuring sustainable growth within the company. Known for his commitment to innovation and excellence, Guy Gosselin continues to be a key leader in the mining sector.

Contacts

Address
ONTARIO
TORONTO
145 King St E Suite 400
Contacts
+14169471212.0
www.agnicoeagle.com
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