Yamana and Agnico Eagle
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Yamana’s strong results
AUY’s fourth-quarter results were stronger than expected. Its EPS of $0.01 and its revenue of $483 million topped analysts’ expectations for the quarter. Its full-year production exceeded its guidance, while its costs came in better than expected. Its long-term guidance was also strong, as it expected to benefit from continued strong performances at Canadian Malartic and Cerro Moro.
On March 7, Yamana Gold, Glencore (GLNCY), and Goldcorp (GG) entered into an agreement to develop and operate Yamana’s Agua Rica gold and copper mine in Argentina using the existing infrastructure and facilities of these three companies’ Alumbrera mine. This development also benefited the stock.
Agnico Eagle Mines
Agnico Eagle Mines has been consistent in its operational performance and has demonstrated strong execution. The company is expecting record gold production in 2019. Going forward, AEM’s growth projects are expected to kick in, which should drive its production growth in 2019 and beyond. Strong cash flows and dividend hike expectations are driving its stock higher.