Have you been paying attention to shares of Agnico Eagle Mines (AEM) ? Shares have been on the move with the stock up 8.9% over the past month. The stock hit a new 52-week high of $65.49 in the previous session. Agnico Eagle Mines has gained 18.4% since the start of the year compared to the -2.9% move for the Zacks Basic Materials sector and the 10.9% return for the Zacks Mining - Gold industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, as it hasn't missed ...

Despite negative sentiment in gold mining stocks and Wall Street analysts downgrading the shares of the renowned mining firm Newmont (NYSE: NEM) to a ‘hold,’ the NEM stock has soared over 15% in a single day on a positive earnings report, pulling with it the rest of the industry.Specifically, gold bug Peter Schiff has recently commented on the price action of shares of Newmont, the leading gold mining company, upon its better-than-expected earnings call, arguing that Wall Street was not ready for the impact ...

First Quarter 2024 Results April 26, 2024 Forward-Looking Statements The information in this presentation has been prepared as at April 25, 2024. Certain statements contained in this presentation constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws and are referred to herein as "forward-looking statements". All statements, other than statem ...

Agnico Eagle Mines (AEM) came out with quarterly earnings of $0.76 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.67%. A quarter ago, it was expected that this gold mining company would post earnings of $0.48 per share when it actually produced earnings of $0.57, delivering a surprise of 18.75%.Over the last four quarters ...

(Kitco News) - The gold mining sector continues to show its value potential as Canada’s largest producer reported record cash margins in the first quarter.In its earnings report published Thursday after the North American trading session, Agnico Eagles Mines Ltd. announced solid earnings on robust production, lower costs, and higher gold prices.The company reported adjusted earnings of $377.5 million or $0.76 per share in the first three months of 2024. The earnings significant beat expectations, as analyst ...

Financial Performance - Agnico Eagle reported net income of $347.2 million, or $0.70 per share, for Q1 2024, a decrease from $1,816.9 million, or $3.87 per share, in Q1 2023[9]. - Adjusted net income increased to $377.5 million, or $0.76 per share, in Q1 2024, compared to $271.3 million, or $0.58 per share, in Q1 2023, primarily due to higher operating margins[11]. - EBITDA for Q1 2024 was reported at $882.5 million, down from $2,272.9 million in Q1 2023, while adjusted EBITDA increased to $929.3 million from $740.4 million[11]. - The effective tax rate increased to 29.0% in Q1 2024 from 6.6% in Q1 2023, largely due to a non-taxable revaluation gain recorded in the previous year[14]. - Net income for Q1 2024 was $347,192, a significant decrease from $1,816,891 in Q1 2023, representing a decline of approximately 81%[100]. - EBITDA for Q1 2024 was $882,538, down from $2,272,906 in Q1 2023, indicating a decrease of about 61%[100]. - Adjusted EBITDA increased to $929,272 in Q1 2024 from $740,396 in Q1 2023, reflecting a growth of approximately 25.6%[100]. - Free cash flow for Q1 2024 was $395,588, compared to $264,679 in Q1 2023, marking an increase of about 49.4%[104]. Production and Operations - Gold production rose to 878,652 ounces in Q1 2024, up from 812,813 ounces in Q1 2023, driven by contributions from the Canadian Malartic complex following the Yamana Transaction[11]. - Operating margin increased by 22.1% to $1,046.2 million in Q1 2024, compared to $856.5 million in Q1 2023, due to a 21.2% increase in revenues from mining operations[11]. - Revenues from mining operations increased to $1,829.8 million in Q1 2024, up 21.2% from $1,509.7 million in Q1 2023, driven by higher gold sales volumes and a 9.0% increase in realized gold sales price[13]. - Total production costs for Q1 2024 amounted to $783,585, up from $653,144 in Q1 2023, representing an increase of about 20%[111]. - Total gold production for the three months ended March 31, 2024, was 878,652 ounces, an increase of 8.1% compared to 812,813 ounces in the same period of 2023[142]. - Total gold sold during the same period was 879,063 ounces, up from 787,558 ounces, representing an increase of 11.6% year-over-year[143]. Costs and Expenses - Production costs rose to $783.6 million in Q1 2024, a 20.0% increase from $653.1 million in Q1 2023, mainly due to higher costs at the Canadian Malartic complex following the Yamana Transaction[13]. - Total cash costs per ounce increased to $901 on a by-product basis and $930 on a co-product basis in Q1 2024, compared to $832 and $861 respectively in Q1 2023[13]. - The LaRonde mine's production costs increased to $75,556 in Q1 2024 from $39,707 in Q1 2023, a rise of approximately 90%[111]. - The Canadian Malartic complex saw production costs rise to $126,576 in Q1 2024 from $57,291 in Q1 2023, reflecting an increase of about 121%[111]. - Total cash costs per ounce on a co-product basis were $930, compared to $861 in the previous year, reflecting a 8.0% increase[143]. Assets and Liabilities - Total assets increased to $28.8 billion as of March 31, 2024, up by $0.1 billion from $28.7 billion as of December 31, 2023[79]. - Current assets rose to $2.25 billion as of March 31, 2024, compared to $2.19 billion as of December 31, 2023[79]. - Cash and cash equivalents totaled $524.6 million as of March 31, 2024, up from $338.6 million as of December 31, 2023[81]. - Total liabilities decreased to $9,160,071 as of March 31, 2024, from $9,262,034 at December 31, 2023[146]. - The total equity increased to $19,642,370 as of March 31, 2024, from $19,422,915 at December 31, 2023[146]. Financing and Credit Facilities - The company entered into a $2.0 billion unsecured revolving credit facility on February 12, 2024, drawing $200.0 million to repay a previous facility[7]. - The company replaced its $1.2 billion unsecured revolving credit facility with a $2.0 billion New Credit Facility, which includes an uncommitted accordion feature of $1.0 billion[88]. - As of March 31, 2024, the company had $1,998.9 million available for future drawdown under the New Credit Facility[88]. - The company’s investment grade credit ratings were upgraded to Baa1 by Moody's and BBB+ by Fitch, reflecting its strong financial profile and low leverage[82]. Shareholder Returns - The company declared a quarterly cash dividend of $0.40 per common share, totaling $157.3 million in Q1 2024, slightly up from $156.2 million in Q1 2023[88]. - The company repurchased 375,000 common shares for $19.9 million at an average price of $52.99 in Q1 2024, compared to 100,000 shares for $4.8 million at an average price of $47.75 in Q1 2023[86]. Exploration and Development - Exploration and corporate development expenses decreased to $51.2 million in Q1 2024 from $53.8 million in Q1 2023, mainly due to lower expenses in Finland[13]. - The company anticipates continued exploration and development efforts, with a focus on optimizing production and managing costs effectively in the upcoming periods[137].

Stock Symbol:   AEM (NYSE and TSX) (All amounts expressed in U.S. dollars unless otherwise noted) TORONTO, April 25, 2024 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE:AEM) (TSX:AEM) ("Agnico Eagle" or the "Company") today reported financial and operating results for the first quarter of 2024. "Building on a very strong close to 2023, we are reporting our second consecutive quarter of record operating margins and record free cash flow, on the back of solid operational and cost performance. With this stron ...

We are in the first busy week of the first-quarter 2024 earnings season as more than 1,000 companies are slated to report their quarterly financial numbers. While market participants will keenly watch the reports and guidance of technology behemoths and the “magnificent 7” companies, several other corporate bigwigs will also report their quarterly results.Some of these companies have a good chance of beating on earnings, which should drive their stock prices in the near term.Q1 Earnings Results So FarAs of ...

Investors are always looking for stocks that are poised to beat at earnings season and Agnico Eagle Mines Limited (AEM) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because AEM is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good ...

The most recent trading session ended with Agnico Eagle Mines (AEM) standing at $63.84, reflecting a +0.58% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. Elsewhere, the Dow saw an upswing of 0.56%, while the tech-heavy Nasdaq depreciated by 2.05%.Shares of the gold mining company witnessed a gain of 12.56% over the previous month, beating the performance of the Basic Materials sector with its loss of 0.32% and the S&P 500's loss of 2. ...