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Yamana Gold Drops 1% as Q2 Earnings Miss Target

Yamana Gold (YRI.TO) is down 1% after it reported a second quarter profit of $90.8 mlon, or 12 cents a share, compared with $9.6 mln, or 1 cent a share, in the previous corresponding period, when it was hit by foreign currency related losses.

Operating earnings jumped to $100.5 mln from $71 mln.

But excluding items, earnings were $85.8 million, or 12 cents a share, below the consensus view of 15 cents a share, according to Thomson Reuters I/B/E/S.

Raymond James analyst Brad Humphrey told Reuters that the earnings miss was largely due to the fact that the company has begun to transport some its concentrate by rail, instead of by road.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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