Based in Toronto, AEM’s business is the exploration, development, and production of precious metals. It has mines in Canada, Australia, Finland, and Mexico, with exploration and development activities focused on Canada, Australia, Europe, Latin America, and the U.S. Gold is a focus for the company, and its facilities are in some of the best gold producing areas in the world. AEM also increased its production capacity through a recent acquisition, allowing it to expand a large mining project in Canada.
For the third quarter of fiscal 2024, AEM increased its revenue to $2.2 billion, a jump of 31% from a year earlier. It delivered record per-share earnings of $1.14, while also having a record $620 million on hand, a nearly sevenfold increase from the prior year. Gold production was 863,000 ounces. Lastly, the company greatly decreased its debt, from $1.5 billion at the start of the year to $490 million.
