Agnico Eagle Mines Limited AEM reported net income of $4.97 million or 2 cents per share in second-quarter 2018, down from net income of $54.9 million or 23 cents in the year-ago quarter.Barring one-time items, adjusted earnings came in at a penny per share, which trailed the Zacks Consensus Estimate of 8 cents.Agnico Eagle recorded revenues of $556.3 million, up about 1.2% from $549.9 million in the year-ago quarter. The figure beat the Zacks Consensus Estimate of $540.5 million.Agnico Eagle Mines Limited Price, Consensus and EPS Surprise Agnico Eagle Mines Limited Price, Consensus and EPS Surprise | Agnico Eagle Mines Limited QuoteOperational HighlightsPayable gold production fell 5.3% year over year to 404,961 ounces from 427,743 ounces in the year-ago quarter. The decline is mainly due to lower throughput levels at Meadowbank.Total cash costs per ounce were $656, up roughly 18% from $556 in the prior-year quarter.All-in sustaining costs (AISC) were $921, up 17.3% from the prior-year quarter’s figure of $785. This uptick can be attributed to higher total cash costs per ounce and expected lower gold production.Financial PositionAs of Jun 30, 2018, cash and cash equivalents were around $708.3 million, down roughly 25% from year-ago quarter’s tally.Long-term debt was $1,720.9 million at the end of the quarter, up 25.4% from $1,371.9 million in the year-ago quarter.There was no outstanding balance on credit facility as of Jun 30, 2018. This resulted in available credit lines of roughly $1.2 billion, excluding the uncommitted $300 million accordion feature.Total capital expenditure in the quarter was $267.6 million.OutlookFor 2018, Agnico Eagle revised its production guidance. It now expects to produce 1.58 million ounces of gold, up from 1.53 million ounces expected earlier. However, total cash costs view remains unchanged in the range of $625-$675 per ounce. AISC is expected in the range of $890-$940 per ounce, in line with the previous view.Price Performance Agnico Eagle’s shares have lost 0.3% in the past three months compared with 4.1% decline of the industry. Zacks Rank & Stocks to ConsiderAgnico Eagle currently carries a Zacks Rank #3 (Hold).A few better-ranked stocks in the basic materials space are KMG Chemicals, Inc KMG, Methanex Corporation MEOH and Celanese Corporation CE, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.KMG Chemicals has an expected long-term earnings growth rate of 28.5%. Its shares have returned 38.6% in a year.Methanex has an expected long-term earnings growth rate of 15%. Its shares have rallied 52.8% in a year.Celanese has an expected long-term earnings growth rate of 10%. Its shares have gained 19.8% in a year.Today's Stocks from Zacks' Hottest StrategiesIt's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.See Them Free>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Methanex Corporation (MEOH): Free Stock Analysis Report Celanese Corporation (CE): Free Stock Analysis Report KMG Chemicals, Inc. (KMG): Free Stock Analysis Report Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report To read this article on Zacks.com click here.