Agnico-Eagle Mines, $47.12, symbol AEM on Toronto (Shares outstanding: 171.2 million; Market cap: $8.1 billion; www.agnico-eagle.com), has three mines in Canada (LaRonde and Lapa in Quebec and Meadowbank in Nunavut), one mine in Finland (Kittila) and one in Mexico (Pinos Altos). The company expects to produce 975,000 ounces of gold this year.
In the three months ended June 30, 2012, Agnico-Eagle earned $68.9 million, up slightly from $68.8 million a year earlier (all figures except share price and market cap in U.S. dollars). Earnings per share fell 2.4%, to $0.40 from $0.41, on more shares outstanding. Revenue rose 6.0%, to $459.6 million from $433.7 million.
Agnico-Eagle holds cash of $289.1 million, or $1.69 a share. Its long-term debt of $830 million is a low 10.2% of its market cap. The shares yield 1.7%.
The company expects to incur annual capital expenditures of $500 million to $600 million over the next five years. This includes a 25% expansion of production at Kittila, new mines…
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