Agnico Eagle Mines (AEM) Misses Q2 EPS by 7c

Agnico Eagle Mines (NYSE: AEM) reported Q2 EPS of $0.01, $0.07 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $556.3 million versus the consensus estimate of $544.45 million.

Revised 2018 Guidance – Production Increased

Production for 2018 is now forecast to be 1.58 million ounces of gold (previously 1.53 million ounces). Unit cost guidance is unchanged with total cash costs per ounce of $625 to $675 and AISC of $890 to $940 per ounce. However, the Company expects total cash costs to trend lower in the second half of 2018.

2018 Tax Guidance

The Company anticipates the overall effective tax rate to normalize over the remainder of 2018 and expects the overall tax rate to be near the higher end of the previous guidance range of 40% to 45% for the full year 2018.

As previously outlined in the Company's news release dated February 14, 2018, the Company expects its effective tax rates by jurisdiction for the full year 2018 to be:

Canada - 40% to 50%Mexico - 35% to 40%Finland - 20%

For earnings history and earnings-related data on Agnico Eagle Mines (AEM) click here.

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