Continued Strong Performance Leads Agnico Eagle to Raise Guidance, but Gold Price Leaves No Upside
Agnico Eagle continued to perform well through the second quarter of 2016. While gold production increased marginally by just 1% to 408,932 ounce, silver, zinc, and copper production increased by 19%, 59%, and 1%, respectively, from the prior-year quarter. Partially driven by the higher byproduct output, byproduct all-in sustaining costs (AISC) declined to $848 per ounce, compared with $864 last year.Driven by the continued strong operational performance, Agnico Eagle increased its full-year p...
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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