Agnico Eagle Mines Limited (AEM) reported stronger-than-expected earnings for Q1 2023, driven by robust gold prices, but faced challenges with increased costs. The company’s all-in sustaining cost (AISC) rose to $1,483 per ounce, a 26% increase year-over-year, primarily due to higher total cash costs, now at $1,093 per ounce, up 22% from $895 a year ago.
AEM anticipates further increases in total cash costs for 2026, projected between $1,020 and $1,120, alongside AISC of $1,400 to $1,550 per ounce. Barrick Mining reported an AISC of $1,708 per ounce, a 4% decline year-over-year, while Kinross Gold’s AISC escalated to $1,732, marking a 28% increase from the previous year. Both companies expect further rises in costs moving into 2026.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
