Agnico Eagle Mines Limited is a senior Canadian gold mining company that engages in the exploration, development, and production of precious metals. The company operates mines in Canada, Australia, Finland, and Mexico, with exploration activities extending to the United States and Colombia. It is distinctive for being the second-largest gold producer in the world and for its policy of no-forward gold sales, providing investors with full exposure to gold prices.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
11,907,851
8,285,753
6,626,909
5,741,162
Cost of Sales
3,340,684
3,086,080
2,933,263
2,643,321
Gross Profit
8,567,167
5,199,673
3,693,646
3,097,841
Selling, General & Administrative Expenses
235,947
207,450
208,451
220,861
Depreciation & Amortization Expenses
1,645,297
1,514,076
1,491,771
1,094,691
Exploration Expenses
206,684
219,610
215,781
271,117
Other Operating Expenses
(66,203)
145,042
900,661
238,203
Operating Profit
6,545,442
3,113,495
876,982
1,272,969
Interest Expense
(91,145)
(126,738)
(130,087)
(82,935)
Non-Operating Income
249,614
(165,202)
1,612,174
(74,611)
Total Non-Operating Income
158,469
(291,940)
1,482,087
(157,546)
Income Before Provision for Income Taxes
6,703,911
2,821,555
2,359,069
1,115,423
Provision for Income Taxes
2,242,450
925,974
417,762
445,174
Consolidated Net Income
4,461,461
1,895,581
1,941,307
670,249
Net Income Attributable to Common Shareholders
4,461,461
1,895,581
1,941,307
670,249
Basic EPS
8.89
3.79
3.97
1.53
Diluted EPS
8.86
3.78
3.95
1.53
Basic Weighted Average Shares Outstanding
501,993
499,904
488,723
437,678
Diluted Weighted Average Shares Outstanding
503,434
500,861
489,913
438,533
Shares Outstanding
500,047
501,730
497,299
456,465
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
2,866,053
926,431
338,648
658,625
Total Cash and Cash Equivalents
2,866,053
926,431
338,648
658,625
Accounts Receivable
—
—
—
8,579
Total Trade Receivables
—
—
—
8,579
Inventories
1,698,830
1,510,716
1,418,941
1,209,075
Other Current Assets
429,059
368,134
433,563
303,780
Total Current Assets
4,993,942
2,805,281
2,191,152
2,180,059
Net Property, Plant & Equipment
22,850,540
21,466,499
21,221,905
18,459,400
Goodwill
4,157,672
4,157,672
4,157,672
2,044,123
Long-Term Investments
1,508,252
612,889
345,257
332,742
Other Long-Term Assets
960,885
944,677
768,963
478,484
Total Assets
34,471,291
29,987,018
28,684,949
23,494,808
Accounts Payable
1,033,444
817,649
750,380
672,503
Accrued Expenses
1,226,347
377,960
95,448
20,683
Current Portion of Long-Term Debt
—
90,000
100,000
100,000
Current Portion of Leases
30,480
40,305
46,394
36,466
Other Current Liabilities
181,935
186,051
55,804
116,770
Total Current Liabilities
2,472,206
1,511,965
1,048,026
946,422
Long-Term Debt
196,271
1,052,956
1,743,086
1,242,070
Leases
94,719
98,921
115,154
114,876
Other Long-Term Liabilities
6,965,631
6,490,276
6,355,768
4,950,095
Total Long-Term Liabilities
7,256,621
7,642,153
8,214,008
6,307,041
Total Liabilities
9,728,827
9,154,118
9,262,034
7,253,463
Common Stock
18,699,862
18,675,660
18,334,869
16,251,221
Additional Paid-in Capital
166,775
172,145
223,829
220,710
Accumulated Other Comprehensive Income
411,921
(41,147)
(98,955)
(29,006)
Retained Earnings
5,463,906
2,026,242
963,172
(201,580)
Total Common Shareholders' Equity
24,742,464
20,832,900
19,422,915
16,241,345
Total Shareholders' Equity
24,742,464
20,832,900
19,422,915
16,241,345
Total Liabilities and Shareholders' Equity
34,471,291
29,987,018
28,684,949
23,494,808
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
4,461,461
1,895,581
1,941,307
670,249
Depreciation & Amortization
1,645,297
1,514,076
1,491,771
1,094,691
Share-Based Compensation Expense
97,545
77,404
71,553
48,570
Other Adjustments
(191,487)
393,807
(756,673)
302,358
Changes in Trade Receivables
—
—
—
12,110
Changes in Inventories
(160,744)
(208,300)
(169,168)
(46,236)
Changes in Accounts Payable
122,639
36,726
2,778
59,460
Changes in Accrued Expenses
—
(8,895)
(2,925)
1,200
Changes in Income Taxes Payable
886,371
259,327
103,850
(35,010)
Changes in Other Operating Activities
(43,969)
1,166
(80,931)
(10,756)
Cash from Operating Activities
6,817,113
3,960,892
2,601,562
2,096,636
Capital Expenditure
(2,433,172)
(1,834,245)
(1,665,079)
(1,538,237)
Purchases of Investments
(447,494)
(183,021)
(104,738)
(47,364)
Proceeds from Sale of Investments
402,720
—
—
—
Payments for Business Acquisitions
(121,960)
—
(1,000,617)
—
Other Investing Activities
1,611
10,152
9,651
875,143
Cash from Investing Activities
(2,598,295)
(2,007,114)
(2,760,783)
(710,458)
Issuance of Long-Term Debt
—
600,000
1,898,958
100,000
Repayments of Long-Term Debt
(986,043)
(1,347,319)
(1,447,589)
(358,701)
Net Issuance / (Repayments) of Long-Term Debt
(986,043)
(747,319)
451,369
(258,701)
Issuance of Common Shares
118,112
235,544
70,318
62,110
Repurchases of Common Shares
(682,890)
(169,357)
(47,003)
(109,955)
Net Issuance / (Repurchases) of Common Shares
(564,778)
66,187
23,315
(47,845)
Common Share Dividends Paid
(728,077)
(671,655)
(638,642)
(608,307)
Other Financing Activities
(8,245)
(3,544)
—
—
Cash from Financing Activities
(2,287,143)
(1,356,331)
(163,958)
(914,853)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
7,947
(9,664)
3,202
1,514
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash