Agnico Eagle Releases Q3 Results, Revises Guidance

Agnico Eagle Mines Ltd. (TSX:AEM,NYSE:AEM) announced its results for the third quarter of 2013, commenting that its quarterly net income came to $47.3 million, or $0.27 per share; that is more than 50 percent less than its Q3 2012 net income of $106.3 million.

During the quarter, the company put out 1,213,000 ounces of payable silver, up from the 1,140,000 ounces it produced during the year-ago period. Its payable gold production came to 315,828 ounces, while its zinc production was 3,648 tonnes and its copper production was 1,241 tonnes.

As quoted in the press release:

• Strong operational performance leads to record quarterly gold production – Payable production of 315,828 ounces at total cash costs per ounce of $591.
• Record quarterly production and improved costs at Meadowbank – Production of 133,489 ounces of gold at total cash costs per ounce of $623.
• Restart of the Goldex mine and commissioning of the La India mine in September 2013 – Goldex expected to achieve commercial production early in the fourth quarter of 2013.
• Increased 2013 production guidance at lower total cash costs – 2013 production now expected to be approximately 1,060,000 ounces of gold, at total cash costs per ounce of approximately $690.

Click here to read the full Agnico Eagle Mines Ltd. (TSX:AEM,NYSE:AEM) press release.