This article discusses the 5 Biggest Canadian Mining Companies. If you want to get detailed analysis on mining industry, you can head on to 12 Biggest Canadian Mining Companies.
5. Agnico Eagle Mines Limited (NYSE:AEM)
2023 Revenue: $6.63 billion
You know who’s making waves in the mining world? Agnico Eagle Mines Limited (NYSE:AEM), the Canadian gold producer with operations all over the globe, from Canada to Finland, Australia, Mexico, and even the United States.
So, in the fourth quarter of 2023 ending 31 December, Agnico Eagle Mines Limited (NYSE:AEM) rocked the charts with adjusted earnings of 57 cents per share, a nice bump from the 38 cents they brought in the year before. They really outperformed, beating the Zacks Consensus Estimate of 48 cents. And when it came to revenue in the quarter, they hit a whopping $1,756.6 million, marking a stellar 27% spike compared to the previous year.
4. Teck Resources Limited (NYSE:TECK)
2023 Revenue: $11.12 billion
Let’s talk about Teck Resources Limited, a major player in the mining world. Teck Resources Limited (NYSE:TECK) used to go by Teck Cominco until 2008 and are based out of Vancouver, British Columbia. Teck Resources is all about mining and developing minerals, like coal for the steelmaking industry, copper, zinc, and energy.
In the fourth quarter of 2023 ending 31 December, Teck Resources Limited (NYSE:TECK) pulled in an impressive $1.7 billion in adjusted EBITDA and hit $6.4 billion for the whole year. How did they do it? Well, thanks to strong prices for steelmaking coal and copper, along with selling more steelmaking coal. They also made $694 million in profit from continuing operations before taxes in Q4 2023, and raked in $3.9 billion for the year.
3. Barrick Gold Corporation (NYSE:GOLD)
2023 Revenue: $11.40 billion
Barrick Gold Corporation (NYSE:GOLD) is representing as a top-notch gold and copper player in the mining scene. Their portfolio covers the hottest gold and copper areas globally, all about snagging those high-profit, long-life assets.
In February 2024, Barrick Gold Corporation (NYSE:GOLD) was all about that projection game – eyeing up a boost in gold production for 2024 after crushing it in the fourth quarter on the back of solid gold prices and output. Their U.S. listed shares? Well, they shot up almost 2% before the market woke up when the world’s second-biggest gold producer spilled the beans on a juicy new share buyback plan worth up to $1 billion. Barrick’s aiming high for 2024, looking to produce between 3.9 million and 4.3 million ounces of gold this year, a step up from their 4.05 million ounces in 2023.
2. Newmont Corporation (NYSE:NEM)
2023 Revenue: $11.78 billion
Oh, Newmont Corporation? Newmont Corporation (NYSE:NEM) are a big deal in the mining world, based out of Greenwood Village, Colorado, and known for their massive gold operations worldwide. Since kicking off in 1921, they’ve been digging up gold in all sorts of places like Nevada, Colorado, and even across the globe in spots like Ghana and Australia. Just last November, Newmont wrapped up snagging Newcrest Mining Limited, making them a major player with a strong copper arm as well.
After sealing the deal, Newmont Corporation (NYSE:NEM) are eyeing some serious wins: aiming for around $500 million in pre-tax synergies within 24 months and a cool $2 billion in cash improvements from some smart portfolio moves. In addition to all their big moves, Newmont wasn’t shy about giving back – they dished out a hefty $1.4 billion in dividends to their shareholders in 2023.
1. Nutrien Ltd. (NYSE:NTR)
2023 Revenue: $29.06 billion
So, Nutrien Ltd. (NYSE:NTR), rocking out from Saskatoon, Saskatchewan, holds the heavyweight title as the top soft rock miner and potash producer globally. With a whopping 20 million tonnes of potash capacity spread across their six top-tier mines in Saskatchewan, Nutrien Ltd. (NYSE:NTR) pretty much the kings of the potash game. Not to mention, they’ve got prime reserves and all their expansion projects up and running, setting them up nicely to cater to the world’s long-term potash hunger.
In 2023, they pulled in some pretty solid numbers – net earnings of $1.3 billion, with $2.53 per share, and an adjusted EBITDA of $6.1 billion, or $4.44 per share. Sure, those figures took a bit of a dip from their record-breaking 2022 hauls, mainly because of lower selling prices across the board and some softer numbers from Nutrien Ag Solutions. But hey, Nutrien’s still a force to be reckoned with in the mining world!
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