Gold miner Agnico-Eagle profit rises as output up, costs down

Thu May 1, 2014 4:32pm EDT

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May 1 (Reuters) - Agnico-Eagle Mines Ltd reported an increase in first-quarter earnings on Thursday because of significantly higher gold production and lower production costs, despite weaker bullion prices.

The Canadian-based gold miner said net income rose to $108.9 million, or 63 cents per share, in the quarter, from $23.9 million, or 14 cents per share, in the same period a year ago. (Reporting by Nicole Mordant in Vancouver; Editing by Steve Orlofsky)

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