May 8, 2008 / 8:44 PM / in 10 years

Agnico-Eagle profit rises as gold prices soar

(In U.S. dollars, unless noted)

TORONTO, May 8 (Reuters) - Agnico-Eagle Mines (AEM.TO) said on Thursday its first-quarter profit rose 16.1 percent, as soaring gold prices more than made up for lower production.

The Canadian gold producer earned $28.9 million, or 20 cents a share, up from $24.9 million, or 20 cents a share, in the year-before period. ($1=$1.02 Canadian) (Reporting by Cameron French; editing by Rob Wilson)

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