Canada's Agnico Eagle Q1 adjusted EPS beats estimates on record margins

Agnico Eagle Mines

30/04/2026 22:11

Overview

Canada gold miner's Q1 adjusted EPS beat analyst expectations, driven by record operating margins

Gold production fell yr/yr, while production costs per ounce rose on higher royalties and FX impact

Company repurchased $150 mln in shares under its buyback program in Q1

Outlook

Agnico Eagle reiterates 2026 gold production guidance at 3.3-3.5 mln ounces

Company maintains 2026 total cash costs guidance at $1,020-$1,120/oz and AISC at $1,400-$1,550/oz

Company expects fuel price volatility and supply chain risks to be mitigated by hedging and local procurement

Result Drivers

HIGHER GOLD PRICES - Record operating margins and adjusted net income driven by higher realized gold prices, partially offset by lower gold sales and higher taxes

INCREASED PRODUCTION COSTS - Production costs per ounce rose due to higher royalty costs from higher gold prices, lower gold production, and a stronger Canadian dollar

HIGHER SUSTAINING CAPITAL AND ADMIN COSTS - AISC per ounce increased due to higher sustaining capital expenditures, reclamation costs, and general and administrative expenses

Company press release: ID:nPn9cY9jda

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
$3.41
$3.26 (7 Analysts)
Q1 EPS
$3.39
Q1 Adjusted Net Income
$1.71 bln
Q1 Net Income
$1.70 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the gold peer group is "buy"

Wall Street's median 12-month price target for Agnico Eagle Mines Ltd is C$350.00, about 39.3% above its April 29 closing price of C$251.21

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 16 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)