Relative to the prior quarter (Q220), Agnico Eagle Mines’ (AEM) production in Q3 increased by 48.8% to 492.7oz and its adjusted net income by 111.4%. While this may seem impressive enough, adjusted net income actually increased by 327.0%, to 78.1c/share, as the company leveraged a 76.0% quarterly increase in revenues against a 47.2% increase in production costs to result in an 8.2pp uplift in gross margins. AEM also benefited from a relatively low effective tax rate of 33.1% in Q3. As a conseque ....
30 Oct 2020
Agnico Eagle Mines - Showing its metal in Q3
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Agnico Eagle Mines - Showing its metal in Q3
Agnico Eagle Mines Limited (AEM:NYS) | 0 0 0.0%
- Published:
30 Oct 2020 -
Author:
Charles Gibson -
Pages:
2
Relative to the prior quarter (Q220), Agnico Eagle Mines’ (AEM) production in Q3 increased by 48.8% to 492.7oz and its adjusted net income by 111.4%. While this may seem impressive enough, adjusted net income actually increased by 327.0%, to 78.1c/share, as the company leveraged a 76.0% quarterly increase in revenues against a 47.2% increase in production costs to result in an 8.2pp uplift in gross margins. AEM also benefited from a relatively low effective tax rate of 33.1% in Q3. As a conseque ....