Agnico Eagle Mines Limited (AEM) and Newmont Corporation (NEM) are two major players in the gold mining industry, both showing robust financial metrics despite recent fluctuations in gold prices. As of late January 2026, gold peaked at nearly $5,600 per ounce but has since retraced to approximately $4,600 due to rising inflation concerns linked to crude oil prices. Notably, AEM reported a record operating cash flow of $6.8 billion for full-year 2025, while Newmont achieved a free cash flow surge of 161% year-over-year, reaching $3.1 billion in Q1 2026.
AEM ended Q1 2026 with a significant net cash position of $2.9 billion, while also returning around $375 million to shareholders through dividends and share buybacks. In comparison, Newmont has executed $6 billion in share repurchases and has a robust liquidity of approximately $12.8 billion, including $8.8 billion in cash. AEM’s all-in sustaining costs (AISC) rose to $1,483 per ounce, while Newmont’s AISC is projected to increase to $1,680 per ounce in 2026.
Stock performance shows AEM has increased by 49.6% over the past year, while NEM gained 100.6%, against a Zacks Mining – Gold industry increase of 63.7%. AEM trades at a forward 12-month earnings multiple of 13.29, while NEM trades lower at 10.81, indicating a potentially attractive valuation for investors considering exposure to either mining giant amidst shifting gold market dynamics.
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.
