TD Fall Investing GuideTD Fall Investing Guide
Updated: Wed, 12 Feb 2014 23:25:09 GMT | By The Canadian Press, thecanadianpress.com

Agnico Eagle reports Q4 US$453.3 million loss

TORONTO - Agnico Eagle Mines Ltd. (TSX:AEM) is reporting a fourth quarter net loss of US$453.3 million, or US$2.61 per share.


TORONTO - Agnico Eagle Mines Ltd. (TSX:AEM) is reporting a fourth quarter net loss of US$453.3 million, or US$2.61 per share.

That compares with a net profit of US$82.8 million, or 48 cents a share, a year ago.

The gold miner says the results include an after tax impairment charge of US$436.3 million and other charges and expenses.

Revenue was US$437.2 million, down from US$449.3 million a year ago.

Agnico says realized gold and silver prices were down 26 per cent and 35 per cent respectively, period over period.

For the year, Agnico reports a net loss of US$406.5 million, or US$2.35 a share, compared with a net profit of US$310.9 million, or US$1.82 a share, in 2012.

In a statement, Agnico says it exceed both production and cost guidance for the second year in a row.

”Over the next three years, we expect further production growth and stable costs", said Sean Boyd, president and chief executive officer.

Find the cheapest gas price near you!Find the cheapest gas price near you!
Scroll upScroll down

Recently recommended stories

advertisement