Agnico Eagle Mines (TSX:AEM) Inventory Turnover : 0.82 (As of Dec. 2023)

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What is Agnico Eagle Mines Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. Agnico Eagle Mines's Cost of Goods Sold for the three months ended in Dec. 2023 was C$1,568 Mil. Agnico Eagle Mines's Average Total Inventories for the quarter that ended in Dec. 2023 was C$1,901 Mil. Agnico Eagle Mines's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.82.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Agnico Eagle Mines's Days Inventory for the three months ended in Dec. 2023 was 110.63.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Agnico Eagle Mines's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.81.

Agnico Eagle Mines Inventory Turnover Historical Data

The historical data trend for Agnico Eagle Mines's Inventory Turnover 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 Inventory Turnover Chart

Agnico Eagle Mines Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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3.31

3.35

3.33

3.67

3.35

Agnico Eagle Mines Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Inventory Turnover	Get a 7-Day Free Trial															0.78	0.78	0.89	0.89	0.82

Agnico Eagle Mines Inventory Turnover Calculation

Agnico Eagle Mines's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	5936.626	/ (	(1642.528	+	1903.651)	/	2 )
=	5936.626	/	1773.0895
=	3.35

Agnico Eagle Mines's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	1568.345	/ (	(1899.315	+	1903.651)	/	2 )
=	1568.345	/	1901.483
=	0.82

Agnico Eagle Mines (TSX:AEM) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Agnico Eagle Mines's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	1901.483	/	1568.345	*	365 / 4
	=	110.63

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Agnico Eagle Mines's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	1901.483	/	2356.708
	=	0.81

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

Agnico Eagle Mines Inventory Turnover Related Terms

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Agnico Eagle Mines (TSX:AEM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Agnico Eagle Mines Ltd (TSX:AEM) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

AEM:USA AEM:Mexico AE9:Germany AEM:Argentina

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 3.1 million gold ounces in 2022 and had about 15 years of gold reserves at end 2022. 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.