Yamana Gold (TSE:YRI) (NYSE:AUY) enjoyed a 62 percent increase in its first-quarter revenue, as gold production rose along with the price of gold.
Earnings for the quarter increased by $79.5 million, or 11 cents a share, although it would have been even higher except for the large foreign exchange gain in the same quarter last year.
Profits came in level with what analysts estimated of 11 cents, before one-time items.
In the same quarter last year Yamana posted profits of $86 million, or 12 cents a share.
Revenue increased to $346.3 million on production gains of six percent, as well as the rise in gold prices.
Using base metals production as a cost offset, cash cost an ounce came to $161.
Guidance for 2010 was reiterated with expectations to reach production levels between 1 million to 1.1 million gold equivalent ounces.
No comments:
Post a Comment