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UPDATE 1-Agnico Eagle 1st-qtr profit falls but beats expectations [Reuters]

Agnico Eagle Mines Limited (AEM) 
Last agnico eagle mines limited earnings: 4/30 05:07 pm Check Earnings Report
Company Research Source: Reuters
Agnico Eagle first-quarter profit falls but beats expectations TORONTO (Reuters) - Agnico Eagle Mines, the biggest Canada-focused gold miner, reported an 18% decline in first-quarter profit on Thursday on lower gold production as its Meadowbank mine in Canada’s Nunavut territory nears the end of its life. Even so, the Toronto-based company’s net income of $37 million, or 16 cents per share, in the three months ended March 31, beat analyst estimates of 7 cents a share. Lower realized gold prices also contributed to the decline, the company said. The fall in gold sales and prices was partially offset by lower costs at its Goldex mine in Canada, Kittila in Finland, and Pinos Altos and Creston Mascota in Mexico, Agnico said in a regulatory filing. Agnico Eagle this year begins operating two new mines in Nunavut, transitioning from Meadowbank to the Amaruk satellite deposit, and opening the new Meliadine mine. As a result, “we anticipate higher gold production to result in increased earnin Show less Read more
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