On July 27, Agnico Eagle Mines declined 4.22% overnight, trading at $147.14/share, with turnover of $90,600.

On the news front, the company temporarily suspended mining operations at the Barnat open pit of its Canadian Malartic complex in Quebec following a rock mass movement along the pit's north wall. The suspension, described as a precautionary measure, is expected to reduce second-half production at Canadian Malartic by approximately 60,000 to 80,000 ounces of gold. Consequently, full-year production is now expected near the lower end of the previously issued guidance range of 3.3 million to 3.5 million ounces. Multiple institutions have subsequently lowered their target prices on the stock.

The company is scheduled to report quarterly earnings on July 29, with consensus expectations for EPS of $3.14, compared to $3.40 in the prior quarter. The production shortfall may weigh on reported results and forward guidance.

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