Agnico Eagle Mines Ltd (AEM)

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Post by retiredcf on Apr 10, 2023 12:21pm
Moody's
09:07 AM EDT, 04/10/2023 (MT Newswires) --

Moody's on Friday revised the rating outlook
for Agnico Eagle Mines (AEM.TO and NYSE: AEM) to positive from stable.

The rating agency also affirmed the company's long-term issuer rating at Baa2.

"The outlook change to positive reflects the strengthening of Agnico's business profile following its acquisitions of Kirkland Lake Gold, and Yamana's interests in Canadian Malartic and Wasamac while maintaining low leverage and conservative financial policies", Jamie Koutsoukis, Moody's vice president and senior analyst, said.

The company's shares, which rose 8.1% in Canada on Thursday, slipped 0.8% in premarket
trading on Monday.

Agnico Eagle Mines and Teck Resources Ltd. (TSX: TECK.A, TECK.B and NYSE: TECK)
reported the completion of a joint venture transaction between the companies to advance
the San Nicolas copper-zinc development project.