3 Ways Yamana Gold Glittered in Its Q3 Earnings Report
Reporting third-quarter earnings of $0.04 per share and revenue of $493 million, Yamana Gold (NYSE: AUY) beat analysts' estimates. For those who follow the company, this may come as a surprise since Yamana has failed to meet expectations for the previous four quarters. Let's dig in deeper to discover what drove the unexpectedly good performance, and what it means for the company's future.
A crucial part of Yamana's growth strategy, the Cerro Moro mine will, according to the company, emerge as one of its core mines when completed in 2017. Management estimates that gold production -- expected to begin and ramp up through next year -- at the Argentine mine will be around 80,000 ounces in fiscal 2018 and 130,000 ounces in fiscal 2019. In addition, management confirmed its estimate for the mine of all-in sustaining costs (AISC) below $600 per ounce of gold. But Cerro Moro is more than just a source of the yellow stuff. Yamana estimates silver production of 4.5 million ounces in fiscal 2018 and 9.9 million ounces in fiscal 2019.
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Source: Fool.com
