Monday, October 5th13.8°C

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

Recent Trending

Today's Market
S&P TSX13552.20+212.46
S&P CDNX529.91+4.35
S&P 5001987.05+35.69
CDN Dollar0.7642+0.004
Natural Gas2.46+0.01

Okanagan Companies
Pacific Safety0.215+0.000
QHR Technologies Inc1.22+0.03
Metalex Ventures0.06+0.00
Russel Metals22.51+1.03
Copper Mountain Mining0.50+0.08
Colorado Resources0.07-0.01
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.095+0.005
Decisive Dividend Corp3.49+0.00
Diamcor Mining0.90+0.02



24450651192 Goldfinch Place
more details
Click here to feature your property
Please wait... loading

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

Living beyond 100

Photo: ContributedThere was a time most careers involved an apprenticeship of one sort another. Some official, others involving years of servitude, and others time simply spent watching and emulating ...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council