A: Agnico Eagle Mines Ltd., $77.69, symbol AEM on Toronto (Shares outstanding: 234.5 million; Market cap: $18.7 billion; www.agnico-eagle.com), has eight mines in Canada (LaRonde, Meadowbank, Meliadine, Goldex and Malarctic), one in Finland (Kittila) and two in Mexico (Pinos Altos and La India).
In the three months ended June 30, 2019, the company’s overall gold production rose 1.8%, to 412,315 ounces from 404,961 a year earlier. The increase in output came mostly from the startup of the Meliadine mine and the Amaruq deposit at Meadowbank. Both are in Nunavut Territory.
Despite the higher production, plus higher realized gold prices, cash flow per share fell by 2.9%, to $0.67 from $0.69. (All figures except share price and market cap in U.S. dollars.) The decline is mostly due to lower gold sales—not all production in the quarter was sold. Some was kept in inventory.
The company held cash of $125.6 million on June 30, 2019. Its debt of $1.4 billion U.S. was a low 10%…
Privacy Policy and Terms of Use
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