May 3, 2011 / 8:45 PM / 6 years ago

UPDATE 1-Yamana Gold profit boosted by high metal prices

(In U.S. dollars unless noted)

TORONTO, May 2 (Reuters) - Yamana Gold (YRI.TO) reported an 11 percent rise in first-quarter profit on Tuesday, as it boosted production and continued to benefit from higher precious metal prices.

The miner said earnings increased to $148 million, or 20 cents a share, in the three months ended March 31, from $132 million, or 18 cents a share, a year earlier.

Adjusted earnings were $152.2 million, or 21 cents a share, up from $75.9 million, or 10 cents a share.

Revenue was $476.1 million, up 37 percent from $346.3 million.

Production for the quarter was up 11 percent at 267,368 gold equivalent ounces.

Yamana owns producing mines in Chile, Argentina and Brazil, and has various exploration and development stage projects in Latin America. (Reporting by Julie Gordon; editing by Rob Wilson)

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