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发表于 2011-4-28 05:46 PM
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Agnico-Eagle profit more than doubles
Toronto— Reuters
Published Thursday, Apr. 28, 2011 6:15PM EDT
Agnico-Eagle Mines Ltd.’s (AEM-T64.260.230.36%) first-quarter profit more than doubled on a 34 per cent increase in gold output, despite a fire that crippled production at a mine in the Canadian Arctic, the company said Thursday.
Agnico earned $45.3-million (U.S.), or 27 cents a share, up from a year-earlier $22.3-million, or 14 cents a share.
When adjusted to remove foreign currency losses, stock option expenses and one-time expenses, as well as a small one-time gain, earnings were $76.5-million, or 45 cents a share.
Analysts had expected, on average, adjusted earnings of 48 cents a share, according to Thomson Reuters I/B/E/S.
Revenue was boosted by soaring bullion prices, (GC-FT1,535.003.800.25%) rising to $412.1-million from $237.6-million in the year ago period.
Agnico said it expects to have all its mines operating at a steady state by the second half of 2011, which will increase production for the last two quarters by about 20 per cent.
Last month, Agnico cut its outlook for the year after a fire at its Meadowbank mine in the northern Canadian territory of Nunavut destroyed a kitchen and crippled the mine’s staffing levels.
The company produced 252,362 ounces of payable gold in the first quarter of 2011, compared with 188,232 ounces in 2010.
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