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Bright prospects of key growth projects and higher gold prices are driving Agnico Eagle's (AEM) shares.
The price of gold has surged 24% in 2024 and is currently around $2,570 an ounce. ... the largest holding at Euro Pacific Asset Management was gold mining company Agnico Eagle Mines (AEM ...
Agnico Eagle Mines Limited is a Canadian-based gold producer with operations in Canada, Finland, Australia and Mexico and exploration and development activities extending to the United States. Agnico Eagle has full exposure to higher gold prices consistent with its policy of no-forward gold sales. It has paid a cash dividend every year since 1983.
The benefits of higher production and increased gold prices are likely get reflected in Agnico Eagle's (AEM) Q4 performance.
The current mine was established by Newmarket Gold. Newmarket was taken over by Kirkland Lake Gold in 2016, and in turn that merged with Agnico Eagle Mines Limited in 2022. Gold was first discovered in the Fosterville area in 1894 and mined from then until 1903.
The company was founded in 1988 as Goldpac Investments. Between 1994 and 1999, it operated as Brimstone Gold Corp., a consulting and investment company in the gold mining industry.
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Agnico said average realized price for gold jumped 31% to $1,726 per ounce from a year earlier. "With July production expected to exceed 160,000 ounces of gold, the company is well positioned to ...