Agnico Eagle Q4 Loss Narrows Sharply

(RTTNews) - Agnico Eagle Mines Ltd. (AEM, AEM.TO) reported a net loss for the fourth quarter of US$21.3 million or US$0.10 per share, compared to a net loss of US$780.3 million or US$4.49 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest quarter was US$16.6 million or US$0.08 per share. The year-ago results included a US$1.0 billion impairment loss.

Revenue for the fourth quarter rose to US$503.09 million from US$437.24 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn US$0.03 per share on revenue of US$457.19 million for the fourth quarter. Analysts' estimates typically exclude special items.

Payable gold production in the fourth quarter of 2014 was a record 387,538 ounces, compared to 322,443 ounces in the fourth quarter of 2013.