October 29, 2012 / 8:53 PM / 5 years ago

Yamana Gold profit falls on metal prices

Oct 29 (Reuters) - Canadian miner Yamana Gold Inc reported a 6 percent fall in third-quarter adjusted profit on Monday as lower metal prices and higher costs outweighed higher gold sales volumes.

The mid-tier gold miner’s adjusted earnings were $178 million, 24 cents a share, for the quarter ended Sept 30. That compared with $190 million, or 26 cents a share, in the year-earlier period.

Analysts, on average, had expected earnings of 23 cents a share, according to Thomson Reuters I/B/E/S.

Net earnings, which included charges related to tax changes in Chile, were $60 million, or 8 cents a share. That compared with $116 million, or 16 cents a share, in the year-before period.

Revenue rose 10 percent to a record $612 million on quarterly production of 310,490 gold equivalent ounces.

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