February 22, 2012 / 10:27 PM / 6 years ago

UPDATE 1-Yamana Gold adjusted profit up on higher metal prices

TORONTO, Feb 22 (Reuters) - Miner Yamana Gold reported a 8 percent boost in adjusted profit on higher precious metal prices and a boost in concentrate sales volume.

For the quarter ended Dec. 31, net earnings fell to $89.6 million, or 12 cents a share. That compared with $125.6 million, or 17 cents, in the year-before quarter.

On an adjusted basis, earnings rose to $184.2 million, or 25 cents a share, compared with $171 million, or 23 cents a share in the same quarter of 2010.

Analysts, on average, had expected earnings of 26 cents a share on revenue of $601.5 million, according to Thomson Reuters I/B/E/S.

Revenue rose 6 percent to $568.8 million.

In a separate statement, the Toronto-based miner said it boosted its reserves by 2 million ounces to 18.6 million ounces in 2011. The miner also raised its annual dividend by 10 percent to 22 cents per share.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below