Agnico Eagle Posts Strong Quarter With 866k Ounces and $1.5 Billion Net Income

Agnico Eagle Mines (TSX/NYSE: AEM) is riding the gold wave to record-breaking results. Speaking with Kitco Mining at the Mining Forum Americas 2025, President and CEO Ammar Al-Joundi breaks down a blockbuster Q2, with 866,000 ounces of gold production, $1.5 billion in net earnings, and all-in sustaining costs at just $1,300 per ounce—delivering roughly 60% profit margins.

“Of the $1,500 increase in gold price, virtually all of that has gone to our shareholders,” Al-Joundi notes, emphasizing Agnico's commitment to capital discipline, direct shareholder returns, and long-term growth.

Agnico’s stock has surged to $150 per share, up 80% year over year, as the company has strengthened its balance sheet by $1.2 billion, cut debt to $550 million, and returned capital through dividends and share buybacks.

With gold pushing higher, Al-Joundi says Agnico is now focused on developing “the best pipeline we’ve ever had,” targeting 1.3 to 1.5 million ounces of organic growth from world-class assets including Detour, Meliadine, Upper Beaver, Hope Bay, and San Nicolás.

Looking ahead, Agnico sees the potential to exceed 4 million ounces per year in gold production, reinforcing its position as a top-tier global gold producer.

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