With a net income margin of 39.46% and upside potential of 56.20%, Agnico Eagle Mines Limited (NYSE:AEM) ranks among the best extremely profitable stocks to buy according to Wall Street analysts. The company reported net income of $4.46 billion for the recently completed fiscal year (FY25).
A closeup view of a large gold mine, illustrating the company’s gold properties.
Agnico Eagle Mines Limited (NYSE:AEM) is carrying that earnings momentum into 2026.
In the first quarter of 2026, Agnico Eagle Mines Limited (NYSE:AEM) produced 825,109 payable gold ounces at all-in sustaining costs of $1,483 per ounce, while growing its cash balance by $246 million to $3,112 million, leaving the company with a net cash position of $2,915 million.
Agnico Eagle Mines Limited (NYSE:AEM) is the world’s second-largest gold miner by production.
In addition to strong operational results, Agnico Eagle Mines Limited (NYSE:AEM) is gaining investor attention by making major capital commitments in Canada’s mining sector.
On May 19, 2026, Reuters reported that Agnico Eagle Mines Limited (NYSE:AEM) will begin redevelopment of the Hope Bay Mine in Nunavut, Canada’s remote Arctic territory. The company plans to invest $2.4 billion in the project, which carries potential annual gold production of roughly 400,000 ounces. The redevelopment will receive C$25 million ($18.1 million) in federal funding toward a wind turbine plant construction to power the mine. The project is expected to support close to 2,000 jobs for indigenous groups in the region and boost Canada’s exports by $1.89 billion.
Tim Hodgson, Minister of Energy and Natural Resources, also announced a knowledge-transfer agreement between Agnico Eagle Mines Limited (NYSE:AEM) and Canada’s Department of National Defense on delivering large infrastructure projects in the North, tied to the government’s Arctic sovereignty strategy.
That update followed a separate commitment announced on May 13, 2026, when Agnico Eagle Mines Limited (NYSE:AEM) said it would invest $10.2 billion in Ontario by 2030 across exploration, development, and operations. Within that figure, the company reserved an additional $1.46 billion to expand its Detour Lake mine, Canada’s largest gold producer, extending its life until 2054, and to redevelop the Upper Beaver gold-copper mine. Those investments are expected to create up to 1,600 jobs and add $3.65 billion to Ontario’s GDP.
Agnico Eagle Mines Limited (NYSE:AEM) is a senior Canadian gold mining company and the world’s second-largest gold producer, focused on exploring, developing, and operating mines. Founded in 1957, it operates high-quality, low-risk assets primarily in Canada, Australia, Finland, and Mexico, with about 85% of its production coming from Canada.
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