Issue 30 – Agnico Eagle: Down But Not Out

On Wednesday night Agnico Eagle Mines Limited (TSX:AEM) release their second quarter results. At the same time, two other majors and one junior producer also released their financials. At first glance, Palos’ interpretation of AEM’s quarterly financials was good. Operating results were better, free cash flow was in line and guidance was upbeat. However, the market was not in a good mood especially given that the two other majors, Barrick Gold Corp (TSX:ABX) and Goldcorp Inc (TSX:G), announced weak quarters.

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