Agnico Eagle's Mines Performing Strongly but Shares Are Overvalued
Agnico Eagle is the world’s third-largest gold miner by production, operating mines in Canada, Mexico, Finland, and Australia, reflecting the company’s focus on lower-risk jurisdictions. Its four cornerstone assets each produce roughly 350,000-700,000 ounces of gold annually, consisting of Detour Lake, Canadian Malartic, Meadowbank and Meliadine. All four are in Canada. These mines accounted for around 60% of the company’s production of 3.4 million ounces of gold in 2023, with the company also producing minor amounts of copper, zinc, and silver. Agnico Eagle had about 15 years of gold reserves at end 2023.