UPDATE: Sibanye Gold Eases Back To Trade Up 3% After 2012 Earnings

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Sibanye Gold ( SBGL ) continues to pull back from its highs for the day, after jumping 9% at the open. The South African mining company reported a 16% increase in full-year earnings to 2.98 billion rand, despite problems from labour strikes hitting production.

Shares of SBGL, which was spun off from Gold Fields last month, were up 3% to $5.83 in mid-afternoon trading.

An analyst quoted by Bloomberg News said the outlook is bright for the company as long as operations stabilize. The company managed to make money in 2012 despite a difficult year, he said.



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This article appears in: Investing , Commodities

Referenced Stocks: SBGL

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