Agnico Eagle expects 2026 shareholder returns to exceed 50% of free cash flow
AEM•Agnico Eagle expects fiscal 2026 gold production near the low end of its 3.3 million- to 3.5 million-ounce guidance range and shareholder returns to exceed 50% of free cash flow. Third-quarter free cash flow was $852 million.
1. Outlook and returns
Agnico Eagle expects fiscal 2026 gold production near the low end of its 3.3 million- to 3.5 million-ounce guidance range. It forecasts total cash costs of $1,020 to $1,120 per ounce and all-in sustaining costs of $1,400 to $1,550 per ounce, and expects full-year shareholder returns to exceed 50% of free cash flow; third-quarter free cash flow was $852 million.
2. Production and projects
Gold output reached 2.495 million ounces through the third quarter, supported by strong performance at Detour Lake, Kittilä and Fosterville. Project development could lift annual gold production by 20% to 30% over the next decade, with growth expected to begin in the early 2030s.
