UPDATE: Yamana Gold Up 3% As Q4 Beats on EPS, Misses on Revenues; Issues Production Outlook for 2013, 2014


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Yamana Gold Inc. (YRI.TO) reported fourth quarter earnings of $0.26 per share versus the Capital IQ consensus of $0.25. Revenues were $629.5 million, versus the analyst estimate of $673.33 million.

The company reported gold production of 1.02 million ounces and silver production of 9 million ounces. It also posted record production of 1.2 million gold equivalent ounces ( GEO ), an increase of 9% at cash costs of $230 per GEO.

AUY expects production in 2013 to be in the range of 1.44 million - 1.60 million GEO with a target level of 1.48 million GEO. This would represent an increase from 2012 production of at least 20%. Production in 2014 is expected to be in the range of 1.60 million - 1.77 million GEO with a long-term sustainable target of 1.75 million GEO, representing an increase by about 33% from 2012 levels.

YRI was up 3% to $15.16, trading near year low $12.76.

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This article appears in: Investing , Commodities

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