Magnetologic circuits are digital logic circuits constructed using magnetic tunnel junction (MTJ) devices. These devices are non-volatile, robust, and scale favorably with process dimensions. Several approaches exist for building magnetologic circuits. We are investigating current-mode magnetologic circuits as a viable option. Current-mode circuits avoid charging/ discharging load capacitances and can be used to program a downstream device. Noise in a current-mode read circuit can affect the ability to correctly distinguish logic states in an MTJ. In this paper, we present a noise analysis of a current-mode read circuit or current conveyor. We derive analytical noise equations and verify them via simulation.