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