UPDATE: Agnico-Eagle Shares Advance on Strong Earnings Report

By
A A A

Gold miner Agnico-Eagle Mines Ltd.(AEM.TO) today reported a first quarter profit of $78 million or 46 cents per diluted share, up from a profit of $45 million or 26 cents per share a year earlier.

Revenue totalled $474 million, up from $418 million in 2011.

The company said the higher net income and cash provided by operating activities in 2012 was primarily due to a 20% higher realized gold price.


Analysts at Credit Suisse today upgraded the outlook on AEM to Outperform from Neutral and raised the target share price estimate to $45 (from $35).

AEM shares were up more than 8% to $38.15 on volume of 1.23 million.



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

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks:

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

100,376,898
  • $17.62 ▲ 0.51%
83,231,837
  • $25.62 ▲ 1.91%
75,739,329
  • $111.78 ▼ 0.77%
65,297,937
  • $36.37 ▼ 1.76%
59,053,093
  • $47.66 ▲ 0.29%
53,482,350
  • $2.59 ▼ 0.38%
51,504,284
  • $7.34 ▲ 2.37%
51,434,656
  • $8.14 ▲ 6.96%
As of 12/19/2014, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com