Wednesday, May 27th11.7°C
25412
26336

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

26388


Recent Trending




Today's Market
S&P TSX15050.81-136.59
S&P CDNX691.96-8.09
DJIA18041.54-190.48
Nasdaq5032.75-56.61
S&P 5002104.20-21.86
CDN Dollar0.8055+0.0014
Gold1187.40-16.90
Oil59.70+0.69
Lumber273.50-2.70
Natural Gas2.826+0.004

 
Okanagan Companies
Pacific Safety0.135-0.005
Knighthawk0.010.00
QHR Technologies Inc1.51+0.02
Cantex0.03-0.01
Anavex Life Sciences0.432+0.007
Metalex Ventures0.085+0.005
Russel Metals25.21-0.62
Copper Mountain Mining1.28-0.05
Colorado Resources0.105+0.005
ReliaBrand Inc0.008+0.003
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.15-0.02
Decisive Dividend Corporation1.96-0.24

 



26407

FEATURED Property
16257601562 Granite Road
10063515 bedrooms
$729,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...

_



25482

25217


Member of BC Press Council


24697