UPDATE: Yamana Gold Announces First Quarter Results; Shrs Down 2% in Early Trade
YAMANA GOLD INC. (YRI.TO) today announced its financial and operating results for the first quarter 2012.
The stock is down more than 2%, to $14.23, on volume 475,000 shares.
HIGHLIGHTS FOR THE FIRST QUARTER 2012
- Production of 278,832 gold equivalent ounces ( GEO ), at cash costs of $292 per GEO
- Gold production of 234,532 ounces.
- Silver production of 2.2 million ounces.
- Generated cash margin of US$1,404 per ounce.
- Significant financial and operational results over the first quarter 2011.
- Production increased 4% to 278,832 GEO
- Revenue increased 18% to $560 million
- Net earnings increased 15% to $170 million, $0.23 per share
- Adjusted earnings(2) increased 21% to $184 million, $0.25 per share
- Cash flow generated from operations of $220 million, $0.30 per share
- Cash and cash equivalents were $868 million .