Agnico Eagle Mines (NYSE: AEM) reported Q4 EPS of $0.84, $0.19 better than the analyst estimate of $0.65. Revenue for the quarter came in at $928.45 million versus the consensus estimate of $952.87 million.

"Despite 2020 being very challenging, we ended the year with record quarterly gold production, our largest gold reserve base and our best ever safety performance as a result of the excellent work of our employees. With gold production expected to increase by approximately 300,000 ounces in 2021, combined with an anticipated decline in total cash costs per ounce of 6%, we expect to continue to generate strong net free cash flow in 2021 while we steadily advance our pipeline of growth projects," said Sean Boyd, Agnico Eagle's Chief Executive Officer. "As we move forward, our focus will be on maximizing the full potential of our existing mines through mineral reserve additions and incremental production expansions while also building new projects like the recently approved underground mines at Canadian Malartic and Amaruq. At the same time, we will continue to look to strengthen our business and build additional value by adding projects with excellent potential to grow and become important cash flow generators, like the recently acquired Hope Bay project," added Mr. Boyd.

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