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Earnings Review and Free Research Report: Agnico’s Q3 Bottom-Line Beat Estimates

Research Desk Line-up: McEwen Mining Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 15, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Agnico Eagle Mines Ltd (NYSE: AEM) ("Agnico"), which can be viewed by registering at, following the Company's announcement of its third quarter fiscal 2017 earnings results on October 25, 2017. The Toronto, Canada-based Company's strong operating performance culminated into a record gold production and a strong cash flow generation. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

Get more of our free earnings reports coverage from other constituents of the Gold industry. Pro-TD has currently selected McEwen Mining Inc. (NYSE: MUX) for due-diligence and potential coverage as the Company announced on November 02, 2017, its consolidated financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on McEwen Mining when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AEM; also brushing on MUX. With the links below you can directly download the report of your stock of interest free of charge at:

Earnings Reviewed

During Q3 FY17, Agnico reported revenues from mining operations of $580.01 million compared to $610.86 million in Q3 FY16. The Company's revenue numbers topped market expectations of $549.13 million.

The precious metal mining Company reported a net income of $70.96 million, or $0.30 per diluted share, in Q3 FY17 versus $49.39 million, or $0.22 per diluted share, in the prior year's comparable quarter. Excluding certain items, the Company's adjusted net income stood at $66.5 million, or $0.29 per share, for Q3 FY17, which came in above market forecasts of $0.17 per share.

Operating Metrics

In Q3 FY17, Agnico's production cost stood at $262.17 million compared to $277.37 million in the year ago same quarter. The Company's general and administrative expenses were $27.99 million in Q3 FY17 compared to $21.47 million in the year ago corresponding period. The Company's total operating margin stood at $317.84 million in Q3 FY17 versus $333.49 million in Q3 FY16. Furthermore, all-in sustaining costs (AISC) per ounce of gold produced was $789 in Q3 FY17 compared to $821 per ounce in Q3 FY16.

Metal Metrics

Agnico's payable gold production was 454,362 ounces in Q3 FY17, up from 416,187 ounces in Q3 FY16. Production costs per ounce of adjusted gold fell to $578 in Q3 FY17 from $666 per ounce in Q3 FY16. Additionally, the Company's total cash costs per ounce of gold produced were $546, which came in below $575 per ounce in Q3 FY16.

The Company's silver production was 1.27 million ounces during Q3 FY17 compared to 1.19 million ounces in Q3 FY16. Furthermore, silver realized price increased to $16.92 per ounce in Q3 FY17 from $19.52 per ounce in Q3 FY16.

During Q3 FY17, zinc production volume was 1,771 tons versus 1,010 tons in the prior year's comparable quarter. Moreover, zinc realized price came in at 2,780 per ton for the reported quarter compared to 2,170 per ton in Q3 FY16.

Copper production volume was 1,056 tons during Q3 FY17 compared to 1,177 tons in Q3 FY16. The Company's copper realized price was 6,412 per ton for Q3 FY17 compared to 4,819 per ton in the last year's same quarter.

Cash Flow and Balance Sheet

In the three months ended September 30, 2017, net cash generated by operating activities was $194.07 million versus $282.86 million the prior year's corresponding quarter. Furthermore, total capital expenditure was $276.78 million during the reported quarter.

As on September 30, 2017, cash and cash equivalents balance stood at $855.47 million compared to $539.97 million as on December 31, 2016. Additionally, long-term debt balance was $1.37 billion as on September 30, 2017, compared to $1.07 billion as on December 31, 2016.


In its earnings press release, Agnico's Board of Directors raised the dividend by 10% to $0.11 per common share, payable on December 15, 2017, to shareholders of record as of December 01, 2017. Moreover, the Company has declared a cash dividend every year since 1983.

Earnings Outlook

In its guidance for the full year FY17, Agnico raised gold production outlook to be above 1.68 million ounces from the previously provided guidance of 1.62 million ounces. Total cash costs per ounce is now expected to be in the range of $570 per ounce to $600 per ounce. Furthermore, AISC is now forecasted to lie between $820 per ounce and $870 per ounce.

Stock Performance

Agnico Eagle Mines' share price finished yesterday's trading session at $45.40, marginally advancing 0.73%. A total volume of 1.23 million shares have exchanged hands. The Company's stock price advanced 8.04% in the previous twelve months. Additionally, the stock gained 8.10% since the start of the year. Shares of the Company have a PE ratio of 38.64 and have a dividend yield of 0.97%. The stock currently has a market cap of $10.62 billion.

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SOURCE: Pro-Trader Daily