Agnico Eagle Mines (AEM) Tops Q3 EPS by 6c

October 26, 2016 5:22 PM EDT
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Agnico Eagle Mines (NYSE: AEM) reported Q3 EPS of $0.25, $0.06 better than the analyst estimate of $0.19. Revenue for the quarter came in at $610.86 million versus the consensus estimate of $555.47 million.

hird Quarter 2016 Highlights Include:

  • Quarterly gold production – Payable gold production2 in the third quarter of 2016 was 416,187 ounces of gold at total cash costs3 per ounce on a by-product basis of $575 and all-in sustaining costs4 on a by-product basis ("AISC") of $821 per ounce
  • Record gold production at La India and record silver production in Mexico – In the third quarter of 2016, payable gold production was a new quarterly record of 30,779 ounces at the La India mine. Silver production was a new quarterly record of 825,000 ounces at the Company's Mexican mines
  • Whale Tail drilling yields deepest intersection to date – Hole AMQ16-1045 intersected the deepest mineralization in the Whale Tail deposit to date: 5.4 grams per tonne ("g/t") gold over 3.3 metres at 658 metres depth and 5.5 g/t gold over 16.1 metres at 725 metres depth, including 13.1 g/t gold over 3.5 metres at 732 metres depth (capped gold grades over estimated true width)
  • Infill drilling yields widest intercept to date in the Sisar Central Zone - Hole ROD16-702D intersected 6.6 g/t gold over 12.7 metres at 1,303 metres depth (uncapped gold grade over estimated true width)
  • Lapa Mine Life Extended Through Year-End 2016 – Production is now forecast to continue through year-end 2016 and the Company is evaluating a number of opportunities that could potentially see the mine life extend into 2017
  • Increasing cash position reduces net debt5 – In the third quarter of 2016, net debt was reduced by approximately $154 million, to $587.9 million, at September 30, 2016. Cash and cash equivalents and short term investments totalled $627.4 million
  • A quarterly dividend of $0.10 per share was declared

For earnings history and earnings-related data on Agnico Eagle Mines (AEM) click here.



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