Agnico Eagle Mines

US: AEM

$14386.9m market cap

$60.2 last close

Agnico Eagle operates eight mines in Canada, Finland and Mexico and is among the top 15 largest gold mining companies in the world. It seeks to build a high-quality business that generates superior long-term returns for shareholders and contributes to the communities in which it operates.

Investment summary

Agnico Eagle Mines Limited (AEM or the Company) is a senior gold producer that operates in low political risk jurisdictions with a quality mineral reserve base. The Company has a track record of strong operational performance and has beaten production and cost guidance for seven consecutive years. AEM is nearing completion of a large Nunavut expansion (the Meliadine mine and Amaruq project), which is expected to drive growth in gold production from 1.75Moz in 2019 to 2.0Moz in 2020. A return to free cash flow generation is anticipated in H219 with capex expected to decline significantly as AEM moves to “harvest mode”.

Share price graph
Price performance
%
1m
3m
12m
Actual 11.1 2.9 68.5
Relative* 6.3 (3.6) 45.3
52-week high/low US$64.2/US$34.9
*% relative to local index
Key management
Brian Christie IR - Dir