#캐나다 자원주 Analysis Reports
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Agnico Eagle Mines (AEM) is a gold producer based in Ontario, Canada, dual-listed on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX). Q1 2026 adjusted net income reached an all-time high of USD 1,706 million (USD 3.41 per share), driven by a higher realized gold price per ounce, but in early July 2026 a wall failure at the Barnat open pit within the Canadian Malartic mine led to a precautionary suspension of mining, with second-half 2026 production announced to decline by 60,000–80,000 ounces. The company stated it continues to advance expansion projects during the same period, including the consolidation of assets in Finland's Central Lapland region (acquisition of Aurion, Rupert, and the Fingold JV) and the redevelopment of Hope Bay in Ontario.
Kinross Gold announced on 2026-07-29 that it recorded revenue of 2,238.1 million USD and net income of 844.2 million USD (EPS of 0.71 USD) for the second quarter of 2026 (period ended June 30). The average realized gold price was 4,483 USD/oz, up 37% year-over-year, while attributable production was 492,326 gold-equivalent ounces, down 4% year-over-year. The company executed approximately 520 million USD (17.3 million shares) in cumulative share buybacks in the first half of the year and declared a quarterly dividend of 0.04 USD per share to shareholders of record as of 2026-08-20 (payable 2026-09-03).
Cameco reported Q2 2026 (quarter ended 2026-06-30) revenue of $573.46 million, below the market consensus of $592.27 million, and adjusted EPS of $0.1268, below the consensus of $0.28. The uranium segment's average realized price was $93.13/lb, up 15% year-over-year, while production (Cameco's share) was 3.9 million lb, down 15% year-over-year. On the same day as its earnings release, the company raised its 2026 consolidated revenue guidance range to $3,320-3,570 million, and Westinghouse (49% owned by Cameco) confidentially submitted a draft Form S-1 to the SEC for an initial public offering on 2026-07-31.
EcoPro BM is a battery materials company that manufactures high-nickel NCA and NCMA cathode materials. It disclosed Q2 2026 (consolidated) revenue of KRW 576.7 billion (-26.0% YoY) and operating profit of KRW 18.0 billion (-63% YoY), marking a second consecutive profitable quarter (Herald Corporation, 2026-07-31). On June 30, 2026, the board resolved a KRW 1.1999 trillion rights offering (9,909,900 new shares, planned issue price KRW 121,200); following two rounds of correction requested by the Financial Supervisory Service, the securities registration statement's effective date was pushed back to 2026-08-25 (news.md, as received 2026-08-09). Of the proceeds, KRW 915.0 billion is earmarked for acquiring a stake in the BNSI nickel smelter in Indonesia (90,000-ton annual capacity, 39% stake held by EcoPro Group); the smelter was 39.2% complete as of 2026-08-11 and is targeting trial operation in December (Newspim, 2026-08-11). The closing price as of the analysis date (2026-08-14) was KRW 116,700.