Agnico Eagle reports Q1 adjusted EPS 76c, consensus 60c

Reports Q1 revenue $1.83B, consensus $1.73B. Payable gold production in Q1 was 878,652 ounces at production costs per ounce of $892, total cash costs per ounce of $901 and all-in sustaining costs per ounce of $1,190. “Building on a very strong close to 2023, we are reporting our second consecutive quarter of record operating margins and record free cash flow, on the back of solid operational and cost performance. With this strong start to the year, we are well positioned to achieve our production and cost guidance for 2024,” said CEO Ammar Al-Joundi. “During the quarter, we continued to advance our key value drivers and project pipeline, and our exploration program yielded significant results at Hope Bay, Canadian Malartic and Detour Lake. We strengthened our balance sheet in the quarter and our focus remains on capital discipline and cost control, while investing in our projects pipeline and providing returns to shareholders”.