Another Great Quarter for Agnico Eagle, but Current Share Price Leaves Little Opportunity
Agnico Eagle continued its strong momentum into the third quarter, increasing production more than 9% and cutting all-in sustaining costs nearly 4% over the prior-year quarter. Amid higher year-to-date production and lower costs, the company upgraded its full-year guidance yet again. Agnico Eagle now forecasts production of 1.68 million ounces at AISC of $820-$870 per ounce, up from 1.62 million ounces at $830-$880 per ounce.Key development project Meliadine continued with no problems. Critical...
Agnico-Eagle Mines is a gold mining company with mining operations in Canada, Mexico and Finland. Co. earns a proportion of its revenues from the production and sale of gold in both dore bar and concentrate form. The remainder of revenue and cash flow is generated by the production and sale of byproduct metals. The revenue from byproduct metals is mainly generated by production at the LaRonde mine in Canada (silver, zinc, copper and lead) and the Pinos Altos mine in Mexico (silver).
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