Agnico Eagle Mines (AEM) is “very well-positioned” to pursue acquisitions if the right opportunity emerges, CEO Ammar Al-Joundi said Friday, signaling a renewed openness to dealmaking after a longtime focus on raising production from existing mines.
“We are willing to move… when we see an opportunity on the M&A side that actually creates value per share,” the CEO said on Agnico Eagle’s (AEM) earnings conference call, according to Bloomberg, adding that the company has a “very good understanding of the various assets out there.”
Al-Joundi told Bloomberg last year that the company was focused on internal growth and warned about “irresponsible M&A” just because of high gold prices, but on Friday’s call, the CEO said assets with strong exploration potential would offer the most high-value opportunities.
“What would really interest us – and what has really driven us for external M&A – has really been exploration upside,” Al-Joundi said.
Agnico Eagle (AEM) closed +5.5% on Friday after reporting Q4 adjusted earnings and revenues that topped analyst estimates, and raising its quarterly dividend by 12.5% to $0.45/share, which the company said reflects the strength of the business and higher gold price environment.
Gold production of 841K oz for Q4 and 3.45M oz for the full year met company guidance, but costs were higher than expected, with Q4 all-in sustaining costs of $1,517/oz and full-year AISC of $1,339/oz exceeding the top end of guidance, largely due to higher royalty expenses tied to stronger realized gold prices.
Agnico Eagle’s (AEM) year-end gold mineral reserves rose 2.1% to a record 55.4M oz, supported by exploration success and the initial declaration of reserves at the Marban deposit in Malartic following the March 2025 acquisition of O3 Mining.