Agnico Eagle Mines (BUE:AEM) ROCE % : 12.85% (As of Sep. 2024)

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What is Agnico Eagle Mines ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Agnico Eagle Mines's annualized ROCE % for the quarter that ended in Sep. 2024 was 12.85%.

Agnico Eagle Mines ROCE % Historical Data

The historical data trend for Agnico Eagle Mines's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Agnico Eagle Mines ROCE % Chart

Agnico Eagle Mines Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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13.02

11.35

12.02

8.33

12.86

Agnico Eagle Mines Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
ROCE %	Get a 7-Day Free Trial															5.06	-4.62	10.60	11.11	12.85

Agnico Eagle Mines ROCE % Calculation

Agnico Eagle Mines's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	884552.886	/	( ( (3938904.452 - 158667.644)	+	(10355266.598 - 378337.386) )	/ 2 )
	=	884552.886	/	( (3780236.808	+	9976929.212)	/ 2 )
	=	884552.886	/	6878583.01
	=	12.86 %

Agnico Eagle Mines's ROCE % of for the quarter that ended in Sep. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2024 )		(Q: Jun. 2024 )		(Q: Sep. 2024 )
	=	3301341.088	/	( ( (26230274.598 - 1604041.069)	+	(28340571.549 - 1581438.979) )	/ 2 )
	=	3301341.088	/	( ( 24626233.529	+	26759132.57 )	/ 2 )
	=	3301341.088	/	25692683.0495
	=	12.85 %

(1) Note: The EBIT data used here is four times the quarterly (Sep. 2024) EBIT data.

Agnico Eagle Mines (BUE:AEM) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

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Agnico Eagle Mines Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Agnico Eagle Mines Ltd (BUE:AEM) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

AEM:USA AEM:Mexico 0R2J:UK AE9:Germany AE9:Germany AE9:Germany AEM:Canada

Address

145 King Street East, Suite 400, Toronto, ON, CAN, M5C 2Y7

Website

https://www.agnicoeagle.com

Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It produced more than 3.4 million gold ounces in 2023 and had about 15 years of gold reserves at end 2023. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.