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Agnico beats 3Q profit forecasts

TORONTO (AP) _ Agnico Eagle Mines Ltd. (AEM) on Wednesday reported third-quarter earnings of $71 million.

The Toronto-based company said it had profit of 30 cents per share. Earnings, adjusted for non-recurring gains, were 28 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The gold mining company posted revenue of $580 million in the period.

Agnico shares have risen almost 5 percent since the beginning of the year. The stock has dropped 11 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AEM at https://www.zacks.com/ap/AEM