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Company News

Agnico Eagle 1st-qtr profit falls but beats expectations

TORONTO, April 25 (Reuters) - Agnico Eagle Mines, the biggest Canada-focused gold miner, reported a decline in first-quarter profit on lower gold production as its Meadowbank mine in Canada’s Nunavut territory nears the end of its life, the company said on Thursday.

The Toronto-based company said net income fell almost 18% to $37 million, or 16 cents per share, in the three months ended March 31, beating analyst estimates of 7 cents a share.

Cash from operating activities fell to $148.7 million from $207.7 million a year earlier, the company said. (Reporting By Nichola Saminather Editing by James Dalgleish)

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