Agnico Eagle Is the World's Most-Resilient Gold Miner
- Company's margins show least compression among peers
- Agnico could be producing 30% more gold in five years: CEO
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Agnico Eagle Mines Ltd. is emerging as the winner in the race to shield profit from slumping gold prices.
Since gold began a more than 40 percent plunge from a 2011 peak, the miner’s gross margins have narrowed by just 1.9 percent thanks to expansions and a strengthening U.S. dollar. For every dollar of gold Agnico Eagle sold last quarter, 49 cents was gross profit, little changed from four years ago when gold touched $1,900. That’s the best performance among 15 major producers tracked by Bloomberg, whose margins compressed by an average 64 percent.