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Agnico Eagle Mines posts 1Q profit of $27.8 million, result tops expectations

TORONTO – TORONTO (AP) _ Agnico Eagle Mines Ltd. (AEM) on Thursday reported first-quarter earnings of $27.8 million.

On a per-share basis, the Toronto-based company said it had net income of 13 cents. Earnings, adjusted for one-time gains and costs, came to 12 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The gold mining company posted revenue of $490.5 million in the period.

Agnico shares have climbed 64 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $43.23, a climb of 35 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AEM at http://www.zacks.com/ap/AEM

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Keywords: Agnico Eagle Mines, Earnings Report