09:12 AM EDT, 09/09/2025 (MT Newswires) -- Agnico Eagle Mines Limited ( AEM ) was at last look up 0.8% and at fresh 52 week high levels Monday after saying it sold more than 38 million common shares of Orla Mining ( ORLA ) in a sale to buyers in Canada, the United States and elsewhere through the facilities of the Toronto Stock Exchange at a price of C$14.75 per common share for total consideration of more than C$560 million.

ORLA was down 2.7% at last look in US premarket trade.

"Our investment in Orla has been mutually beneficial for both companies. With Orla's success in evolving into an established intermediate producer and in the context of the current gold market, we believe it is the right time to monetize our investment. This demonstrates our commitment to disciplined capital allocation and allows us to redeploy capital to our strategic priorities," said Ammar Al-Joundi, President and Chief Executive.

Immediately prior to the disposition, Agnico Eagle had beneficial ownership of, or control or direction over, 38,002,589 common shares, representing approximately 11.3% of the issued and outstanding common shares on a non-diluted basis. After giving effect to the disposition, Agnico Eagle does not have beneficial ownership of, or control or direction over, any common shares.

Shares in AEM rose $2.51 or 1.2% to $212.93.