Why Yamana Gold Stock Is Soaring Today
Shares of Yamana Gold (NYSE: AUY) took off on Friday, rallying more than 10% by 10:45 a.m. EDT. Driving the gold mining stock higher was its better-than-expected third-quarter report.
Yamana Gold cashed in on higher precious metals prices during the third quarter. That enabled it to produce $49.5 million, or $0.05 per share, of adjusted net earnings. This result was not only an improvement from the $0.02 per share it earned in the year-ago period but also beat the analysts' consensus by $0.03 per share. Cash flow, meanwhile, was even higher at $157.4 million, enabling the company to generate a net $99.9 million of free cash after capital expenses.
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Source Fool.com
