April 26, 2012 / 9:14 PM / in 6 years

Agnico-Eagle Q1 profit lifted by gold price

TORONTO, April 26 (Reuters) - Canadian gold miner Agnico-Eagle Mines Ltd reported a 73 percent increase in its quarterly profit on Thursday, driven largely by gains in the price of bullion.

Toronto-based Agnico, which has come through a rough patch following major operational setbacks at two key mines in Canada, reported first-quarter earnings of $78.5 million or 46 cents a share, up from $45.3 million, or 27 cents a share, a year earlier.

Excluding a one-time tax benefit, stock option expenses and other one-time items profit in the quarter was $101.4 million, or 59 cents a share.

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