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Jul 23, 2020

Yamana breaks even in second quarter, topping expectations

The Associated Press

Brooke Thackray discusses Yamana Gold

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TORONTO (AP) -- Yamana Gold Inc. on Thursday reported break-even earnings in its second quarter.

The Toronto-based company said it had profit that was less than 1 U.S. cent on a per-share basis. Earnings, adjusted for non-recurring costs, came to 7 U.S. cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 3 U.S. cents per share.

The gold mining company posted revenue of US$303.4 million in the period.

Yamana Gold shares have increased 47 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit US$5.80, more than doubling in the last 12 months.