Yamana Gold Comes Up Light on Revenues

Yamana Gold  is suffering from the collapse in commodity prices that have plagued most miners, . The gold miner reported third-quarter results today after the market closed, showing that it posted revenues of $456.7 million, down 25% from the $611.8 million in the same period the previous year -- but also well below the $501.7 million Capital IQ consensus estimate.

However, adjusted net income came in at $69.5 million, or $0.09 per share, down sharply from $177.6 million, or $0.24 per share, in the same period in 2012, but up 39% from the second quarter and a penny per share better than the CapIQ estimates of $0.08 per share.

Yamana is experiencing pressure from falling prices for precious metals, so that even with production down just 1% year over year, revenues experienced a significant decline.

The gold miner continues to align its production with the volatile pricing environment, but anticipates it will achieve all-in sustaining cash costs on a by-product basis of $850 in 2014 and $925 in 2015, assuming by-product credits of $3.10 per pound copper. The "all-in sustaining costs" incorporate costs related to sustaining production and include additional costs that reflect the varying costs of producing gold over the mine's life.

The article Yamana Gold Comes Up Light on Revenues originally appeared on Fool.com.

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