Agnico Eagle reports Q4 EPS 57c, consensus 48c

Reports Q4 revenue $1.76B, consensus $1.67B. Q4 payable gold production was 903,208 ounces at production costs per ounce of $861, total cash costs per ounce of $888 and all-in sustaining costs per ounce of $1,227. “We had a very strong close to 2023, with our Q4 results driving a record year in terms of safety, operating and financial performance. We achieved the top end of our gold production guidance range and the mid-point of our cost guidance ranges despite inflationary pressures throughout the year,” said Ammar Al-Joundi, CEO. “We are extremely pleased with the results that our teams have accomplished with their hard work this year and we have much to look forward to. We are reporting record mineral reserves and a stable production profile at industry leading costs, anchored by the two largest gold operations in Canada, the Detour Lake mine and the Canadian Malartic complex. We continue to advance studies on optimizing our Abitibi platform and we expect to provide additional updates in the first half of 2024. Our track record of executing and delivering results demonstrates the strength of our business and we are well positioned to create long-term value and generate strong returns”.