Q: Hello 5i, What is your overall Impression of the recent earnings from AEM considering the issuance of new shares, buybacks and efficiency of their various operations.Could you highlight any ongoing concerns regarding future production risk?
Thank you for your outstanding service Andrew
Thank you for your outstanding service Andrew
5i Research Answer:
EPS of 76c beat estimates of 61c; Revenue of $1.83B was 2.4% higher than estimates. EBITDA of $929M was 3.8% better than expected. Strong production and good cost metrics helped the quarter. Guidance for 2024 was re-iterated. Production was 878,652 ounces at an all-in cost of $1,190. The stock continues to do well, and remains one of our favourites in the sector with this quarter. There are always risks of mine issues, or grade, but AEM is showing good efficiency right now. Inflationary pressures do seem to be abating. The development of the Odyssey Mine is going well. We have no additional concerns other than typical market and mine issues which of course can crop up at any time.