Agnico Eagle Mines Ltd. - AEM STOCK NEWS

Agnico Eagle Mines Limited (NYSE: AEM) has announced its 2021 Annual and Special Meeting of Shareholders (AGM) will be held virtually on April 30, 2021, citing ongoing public health concerns. The company appointed Leona Aglukkaq to its board of directors, effective March 11, 2021. Aglukkaq brings extensive political experience, including serving on the board of TMAC Resources. Additionally, Agnico Eagle plans to release its first quarter results on April 29, 2021, followed by a conference call to discuss these results.

Agnico Eagle Mines Limited (AEM) reported record quarterly production and cash flow for Q4 2020, with net income of $205.2 million ($0.85/share), although down from $331.7 million in Q4 2019. The company achieved annual net income of $511.6 million ($2.12/share), up from $473.2 million in 2019. Gold production forecasts indicate a 24% growth from 2020 to 2024. Capital expenditures for 2021 are projected at $803 million. The dividend declared is $0.35 per share, payable on March 22, 2021. Strong cash flow and liquidity position support ongoing projects, including Amaruq and Odyssey.

Agnico Eagle Mines Limited (NYSE: AEM) announced its fourth quarter and full year 2020 results will be released on February 11, 2021, after trading hours. A conference call to discuss the financial results will take place on February 12, 2021, at 9:00 AM (E.S.T.). Investors can tune in via a live audio webcast or by phone. The company also outlined the schedule for its 2021 financial releases, with the first quarter results planned for April 29, 2021. Agnico Eagle, established in 1957, operates mines in Canada, Finland, and Mexico, and has a strong history of consistent dividend payments.

Agnico Eagle Mines Limited (NYSE: AEM) has announced its acquisition of TMAC Resources Inc. (TSX: TMR) for C$2.20 per share, valuing the total equity of the transaction at approximately C$286.6 million. This offer is a substantial premium of 26% over the prior offer from Shandong Gold Mining Co. The deal aims to leverage Agnico Eagle's operational expertise in the Nunavut region and enhance exploration efforts at the Hope Bay Mine. The acquisition has received overwhelming support from TMAC shareholders, with 97.08% voting in favor during a previous meeting.

Agnico Eagle Mines Limited has agreed to acquire TMAC Resources Inc. for C$2.20 per share, totaling an equity value of approximately C$286.6 million. This offer is a 26% premium over TMAC's previous offer from Shandong Gold. The acquisition is expected to enhance Agnico Eagle's operations at the Hope Bay Mine and facilitate community engagement in Nunavut. Key stakeholders have committed to support the transaction, which is set to close by February 8, 2021, pending regulatory approval.

Agnico Eagle Mines Limited (NYSE: AEM) reported net income of $222.7 million or $0.92 per share for Q3 2020, up from $76.7 million in Q3 2019. Adjusted net income is $189.2 million or $0.78 per share. Cash provided by operating activities reached a record $462.5 million. The company declared a quarterly dividend of $0.35 per share, a 75% increase from the previous dividend. Despite production challenges from COVID-19, production volumes were strong with 492,693 ounces of payable gold produced, and capital expenditures are expected to be $720 to $740 million.

Agnico Eagle Mines Limited (NYSE: AEM) announced a private placement agreement to acquire 25,838,821 units of Maple Gold Mines Ltd. at a price of $0.239 per unit, totaling around $6,175,478. Each unit consists of one common share and one warrant, allowing purchase of shares at $0.34 for three years. Agnico Eagle will also form a 50-50 joint venture with Maple, focusing on their Douay and Joutel projects, with an investment of $18 million in exploration costs. This will increase Agnico's stake to approximately 12.84% of Maple's shares.

Agnico Eagle Mines Limited (NYSE: AEM) has formed a 50-50 Exploration Joint Venture with Newmont Corporation (NYSE: NEM) to explore the Anza project in Colombia. The project, covering approximately 200 km², is located in the Mid-Cauca belt, known for its gold deposits. Agnico will initially fund the joint venture until Newmont's previous investment of approximately $2.9 million is matched, expected within 12 months. This move aligns with Agnico's strategy to expand its footprint in Colombia, a region it has been exploring for some time.

Agnico Eagle Mines Limited (AEM) announced it will release its third quarter 2020 results on October 28, 2020, after trading hours. A conference call is scheduled for October 29, 2020, at 11:00 AM (E.D.T.) to discuss financial and operational performance. The call can be accessed via webcast on the company's website, or by telephone. A replay will be available until November 29, 2020. Agnico Eagle has been a significant player in the gold mining sector since 1957, with ongoing operations in Canada, Finland, and Mexico, and a commitment to dividends since 1983.