Wednesday, November 26th0.1°C
22246
24058

Yamana Gold's Q2 adjusted earnings come in at US$43.3 million, revenue falls

TORONTO - Yamana Gold Inc. (TSX:YRI) had US$43.3 million of adjusted earnings in the second quarter, which was down from a year earlier amid lower revenue and realized gold prices.

The Toronto-based company's adjusted earnings amounted to five cents per Yamana share — a penny above the general estimate of four cents per share, but down from US$50.2 million or seven cents per share a year earlier.

Under standard accounting that includes costs associated with an acquisition during the quarter, Yamana's net income was $5.1 million or one cent per share, which compared with a year-earlier net loss of $7.9 million or one cent per share.

During the quarter, Yamana partnered with Agnico Eagle Mines (TSX:AEM) to buy Montreal-based Osisko, which owns the Canadian Malartic mine in northern Quebec and a development project near Kirkland Lake in Ontario.

Yamana's revenue for the three months ended June 30 was US$450.8 million, up from $430.5 million but nearly $20 million less than analyst estimates of about $470 million.

Yamana's production totalled the equivalent of 331,765 ounces of gold, up from 295,545 a year earlier. But the average price that Yamana received declined to US$1,292 per ounce from $1,385 per ounce.

The Canadian Press


Read more Business News

23457


Recent Trending




Today's Market
S&P TSX15073.65+58.24
S&P CDNX780.64-6.86
DJIA17814.94-2.96
Nasdaq4758.252+3.36
S&P 5002067.03-2.38
CDN Dollar0.88840.00
Gold1196.80-0.2999
Oil74.06-0.03
Lumber328.80-0.70
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.16-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.32+0.04
Cantex0.040.00
Anavex Life Sciences0.175-0.005
Metalex Ventures0.030.00
Russel Metals32.14+0.65
Copper Mountain Mining2.15-0.02
Colorado Resources0.130.00
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.325-0.04

 
23744


24035

FEATURED Property
20242523515 Glen Eagles Drive
3 bedrooms 3 baths
$398,500
more details
image2image2image2
Click here to feature your property
Please wait... loading


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...

_



24158

24119


Member of BC Press Council


24033