Agnico Eagle Mines Ltd

**Record Financial Performance**: Agnico Eagle reported record financial results for Q3 2024, including a 31% increase in revenues YoY to approximately $2.2 billion. Adjusted EBITDA was approximately $1.26 billion, and free cash flow reached $620 million, marking the fourth consecutive quarter of record results. Adjusted net income per share was also at a record high of $1.14.

**Cost Control and Guidance**: The company's cash costs were reported at $921 per ounce, within guidance range. Year-to-date costs remained below the midpoint of their cost guidance at $897 per ounce despite increased royalty payments due to higher gold prices. They forecast all-in sustaining costs at $1,200 to $1,250 per ounce for the full year, positioning them competitively within the industry.

**Deleveraging Strategy**: Agnico demonstrated a strong commitment to reducing net debt, dropping it from $1.5 billion to $490 million in just three quarters. The company repaid a total of $375 million in debt during the quarter and returned approximately $700 million directly to shareholders through dividends and share buybacks, affirming its strong balance sheet and shareholder return strategy.