Agnico-Eagle Mines: quarterly profit plus 70 percent
30.04.2012/70/XNUMX Toronto - The Canadian gold producer Agnico-Eagle Mines can look back on an extremely successful first quarter. After all, the company was able to increase its profit by XNUMX percent.
According to the company, the Company generated 2012 net income of 78,55 million or 46 US cents per share for the first quarter. In the 2011 period, Canadian net income was $ 45,26 million or 27 US cents per share. This corresponds to a significant increase of well over 70 percent. Adjusted net income for the period was $ 101,4 million or 59 US cents per share.
Record output despite a mine closure
Especially the gold production of the Canadians in the first quarter 2012 had led to the gratifying result. After all, the company achieved a new production record in the same period with an output of 254.955 Feinunzen Gold. For in the first quarter of 2011, the company still promoted 252.362 troy ounces of gold. It is noteworthy that in the first quarter 2012 the Goldex mine of Canadians had already been shut down. The company now operates only five deposits where total production could be increased in the opening quarter. The production costs of the Canadians also remained within manageable limits with 594 dollars per troy ounce of gold (2011 531 dollars per troy ounce). In addition, the higher gold price averaged 20 percent compared to the same period last year helped the company achieve its good quarterly results. For the current fiscal year, the company is a bit reluctant: the company 2012 wants to produce a gold output of 875.000 to 950.000 troy ounces of gold at cash costs ranging from 690 to 750 dollars per troy ounce.
The remarkable business results for the first quarter of this year were also very well received by investors. After all, the stock shot up on the stock exchange in Toronto as a result of the announcement by nearly ten per cent to the top. Therefore, investors who believe in stable or rising gold prices may risk taking a closer look at Agnico-Eagle Mines' stock, especially since the paper has returned fairly sharply from its highs.
(Www.emfis.com)
