Agnico Eagle Mines (AEM) Tops Q4 EPS by 11c, Revenues Beat
Agnico Eagle Mines (NYSE: AEM) reported Q4 EPS of $0.14, $0.11 better than the analyst estimate of $0.03. Revenue for the quarter came in at $537.8 million versus the consensus estimate of $525.24 million.
"From an operational standpoint, 2018 was another strong year as we exceeded production forecasts at lower than expected unit costs for a seventh consecutive year while growing gold reserves and successfully advancing our Nunavut development projects", said Sean Boyd, Agnico Eagle's Chief Executive Officer. "With the start of new operations at both Meliadine and Amaruq this year, we anticipate record gold production in 2019 with further production growth in 2020 and beyond. This growing production platform should result in increased cash flow allowing us to advance our project pipeline, reduce debt and increase dividends", added Mr. Boyd.
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