Agnico Eagle Mines Reports Strong Q4 Earnings, Beats Expectations
TORONTO, ON (January 13, 2023) - Agnico Eagle Mines Ltd. (AEM) announced strong fourth-quarter financial results on Thursday, reporting a surge in net income compared to the same period last year.
Key Highlights:
* Net income: $509.3 million, compared to a loss in Q4 2021.
* Earnings per share (EPS): $1.01, beating analysts' consensus estimate of $1.17 per share.
* Adjusted EPS: $1.26 per share.
* Revenue: $2.22 billion.
* Annual results: Profit of $1.9 billion ($3.78 EPS) on revenue of $8.29 billion.
* Stock performance: AEM shares have gained 29% since the beginning of the year, closing at $100.81 on Thursday.
Agnico Eagle's positive earnings were driven by higher gold prices and increased production. The company's strong financial performance is a testament to its operational efficiency and successful execution of its business strategy.