Agnico-Eagle profit drops on lower gold prices, higher costs

TORONTO, April 25 Thu Apr 25, 2013 5:11pm EDT

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TORONTO, April 25 (Reuters) - Agnico-Eagle Mines Ltd reported a drop in quarterly profit on Thursday, hurt by lower gold prices and production, as well as a rise in cash costs.

Net earnings fell to $23.9 million, or 14 cents a share, in the first quarter to March 31, from $78.5 million, or 46 cents, a year earlier. Revenue fell 11 percent to $423.2 million.