Agnico Eagle Reports Third Quarter 2020 Results – Strong Operational Performance and Record Realized Gold Prices Drive Strong Quarterly Free Cash Flow; Dividend Increased by 75%; Ongoing Exploration Success Reported at Existing Operations and Pipeline Projects


TORONTO, Oct. 28, 2020 /CNW/ – Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico Eagle” or the “Company”) today reported quarterly net income of $222.7 million, or net income of $0.92 per share, for the third quarter of 2020.  This result includes non-cash mark-to-market gains on warrants of $20.9 million ($0.09 per share), foreign currency translation gains on deferred tax liabilities of $14.3 million ($0.06 per share), derivative gains on financial instruments of $5.1 million ($0.02 per share), non-cash foreign currency translation losses of $4.3 million ($0.02 per share) and various other adjustments losses of $2.5 million ($0.01 per share).  Excluding these items would result in adjusted net income1 of $189.2 million or $0.78 per share for the third quarter of 2020.  For the third quarter of 2019, the Company reported net income of $76.7 million or $0.32 per share.

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