 | Agnico-Eagle Mines Ltd - AEM.t operates four mines in Canada, one mine in Finland and one mine in Mexico. The company produced 1,429,288 ounces of gold in 2014 and 3.6 million ounces of silver. |  |
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"Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle" or the "Company") today reported quarterly net income of $28.7 million, or net income of $0.13 per share for the first quarter of 2015. This result includes a non-cash foreign currency translation loss on deferred tax liabilities of $23.3 million ($0.11 per share), various mark-to-market and other adjustment gains of $22.7 million ($0.11 per share), unrealized losses on financial instruments of $13.6 million ($0.06 per share), non-cash foreign currency translation gains of $11.7 million ($0.05 per share), non-cash stock option expense of $7.8 million ($0.04 per share) and non-recurring gains of $7.6 million ($0.03). Excluding these items would result in adjusted net income of $31.4 million ($0.15 per share) for the first quarter of 2015. In the first quarter of 2014, the Company reported net income of $97.1 million or net income of $0.56 per share.
First quarter 2015 cash provided by operating activities was $143.5 million ($176.8 million before changes in non-cash components of working capital). This compares to cash provided by operating activities of $250.4 million in the first quarter of 2014 ($207.2 million before changes in non-cash components of working capital). The decrease in cash provided by operating activities before changes in working capital during the current period was largely due to lower realized gold and silver prices (down 8% and 17% respectively, period over period) and timing of sales which resulted in lower sales volumes relative to the ounces produced during the quarter.
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http://pennystockjournal.blogspot.com//2014/04/agnico-eagle-mines-ltd-aemt.html
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