Agnico Eagle(US:AEM)2025-01-08 00:35Investment Rating - The report does not explicitly state an investment rating for Agnico Eagle Mine (AEM US) Core Viewpoints - Agnico Eagle is a Canada-based advanced gold mining company and the world's third-largest gold producer, with operations in Canada, Australia, Finland, and Mexico. The company has a strong foundation and has been creating value for shareholders since its establishment in 1957, consistently paying cash dividends since 1983 [1][44]. Company Overview - Agnico Eagle operates several exploration projects including Barsele, Kirkland Lake, El Barqueno, Hammond Reef, Santa Gertrudis, and Timmins East. Its Canadian assets include LaRonde Complex, Goldex Mine, Meadowbank Complex, Meliadine Mine, Hope Bay Mine, and Canadian Malartic Mine. The company also has operations in Europe, the United States, and Latin America [1][5][44]. Performance Summary - In 2023, the company produced 3,439,654 ounces of gold, with a production cost of $853 per ounce, total cash cost of $865 per ounce, and AISC of $1,179 per ounce. The production was at the highest level of the company's guidance range for 2023, which was between 3.24 million ounces and 3.44 million ounces. The free cash flow for the year was $947.4 million [2][41][45]. - The company expects gold production to be approximately 3.35 million to 3.55 million ounces in 2024 and 3.4 million to 3.6 million ounces in 2025, maintaining a stable production level through 2026. Capital expenditures for 2024 are projected to be around $1.65 billion, primarily due to inflation and additional capital expenditures for Detour Lake [2][41][45].