Q: Can you please comment on AEM's recent quarter? While costs for miners have increased, given the recent price of gold won't miners like AEM be swimming in cash moving forward? Would you be comfortable adding to a small position in AEM?
Thanks as always for your expertise.
Thanks as always for your expertise.
5i Research Answer:
AEM beat EPS estimates of 91c coming in at $1.07. Revenue also beat estimates of $2.03B coming in at $2.08B and grew 21% year-over-year. Production and cost guidance was reiterated. Higher gold prices helped drive record operating margins and free cash flow (and we do expect this to continue). We think this was a good quarter with nice beats on revenue and EPS. We would be fine adding to a position.