Agnico Eagle Mines (TSX, NYSE: AEM) tops the list of Canadian miners by market value at C$81.9 billion ($59.8 million) at press time. Agnico operates the country’s biggest gold mines by output: Detour Lake and Canadian Malartic.
The company attributed this year’s first quarter net income of C$815 million to the higher gold price relative to a year ago, strong performance at Canadian Malartic, LaRonde, Macassa, and at its Nunavut operations; and strong free cash flow.
“Our work to control costs…coupled with a favourable gold price environment, has resulted in record operating margins,” Agnico’s President and CEO Ammar Al-Joundi said in a release. “We will remain laser focused on cost control and capital discipline. Our updated three-year production guidance forecasts stable production at peer leading costs.”
Agnico’s O3 buy
Agnico completed the acquisition of explorer O3 Mining…
