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What: Shares of gold miner Agnico-Eagle Mines
So what: Gold production rose slightly to 254,955 payable gold ounces in the first quarter as the company returned to strong operations. Total cash cost for gold was $594 per ounce helping drive earnings per share up to $0.59 per share after one-time items, topping the $0.37 analysts had expected.
Now what: After closing down a mine in 2011 this is the first sign that the company is getting back on its feet. Higher gold prices have also helped operations so if prices remain where they are I think the good results can continue. Management did raise its production outlook for the rest of the year, but at this pace I think even that could be exceeded without any unforeseen events.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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