Ranking: Topmost Canadian Miners In Terms of Market Cap

SEATTLE (Scrap Monster): Agnico Eagle topped the list of Canada-based miners by market cap. The market cap of the company stood at C$51.4 billion as of late-July this year. Incidentally, Agnico Eagle operates the country’s biggest gold mines in terms of output- Detour Lake and Canadian Malartic.

The company was second in the ranked list of Canadian miners by net income in 2023. With a net income of $1.9 billion, it stood second to Barrick Gold Corporation, whose annual net income totalled $1.95 billion during the previous year.

Ammar Al-Joundi, President and CEO, Agnico Eagle commented that the company continues to remain focused on capital discipline. The company is currently advancing the former Hope Bay gold mine project in Nunavut. Also, it plans to undertake a $1 billion underground expansion at Detour Lake, which is expected to boost its annual output to 1 million ounces, he added.

In second and third place were Barrick Gold and Wheaton Precious Metals, with market cap of C$44.7 billion and C$37.9 billion respectively. The other miners in the top ten list along with their market cap in billion Canadian dollars are as follows: Nutrien (34.5), Franco-Nevada Corp. (33.3), Teck Resources (32.6), Cameco (27.7), Ivanhoe Mines Ltd. (24.8), Fist Quantum Minerals (13.7) and Kinross Gold (15).

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