Agnico-Eagle Mines Tops Q# Forecasts; Raises FY12 Production Outlook; Shares Up 2% in After Hours

By Staff,

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Agnico-Eagle Mines Limited ( AEM ) is up almost 2% in after-hours trading to $52.60. The gold mining company today reported Q3 earnings of $0.77 per share versus the Capital IQ consensus of $0.40. Revenues were $537.7 mln, versus the analyst estimate of $446.82 mln.

In the same period last year, the company reported a loss per share of $0.48 on revenues of $515.41 mln. The company is raising its FY12 production guidance from 975,000 ounces of gold to about 1,025,000 ounces of gold. It also expects to produce about 990,000 ounces of gold in FY13, unchanged from prior forecasts.

Shares of AEM are trading in a 52-week range of $31.42 - $54.94.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: AEM

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