TORONTO, Nov 3 (Reuters) - Yamana Gold said on Tuesday its third-quarter net profit fell 60 percent, but core earnings rose as the company benefited from stronger production and higher gold prices.
The Toronto-based gold miner earned $60.8 million, or 8 cents a share, in the quarter ended Sept. 30. That was down from $150.2 million, or 21 cents a share, in the year-before period, when the results were boosted by an unrealized gain on derivatives.
Stripping out noncash items, profit was $88.3 million, or 12 cents a share, up from $31.5 million, or 5 cents a share, a year earlier.
Analysts polled by Thomson Reuters I/B/E/S had expected, on average, a profit of 14 cents a share.
Yamana, which has operations in Mexico, and Central and South America, produced 314,707 gold equivalent ounces, up 34 percent from the year-before quarter.
Revenue jumped 50 percent to $333.2 million on the stronger output and due to realized gold prices that jumped to $962 an ounce from $861 an ounce.
($1=$1.07 Canadian)
(Reporting by Cameron French; editing by Peter Galloway) Keywords: YAMANA/ (cameron.french@thomsonreuters.com; 416-941-8199: Reuters Messaging: cameron.french.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The Toronto-based gold miner earned $60.8 million, or 8 cents a share, in the quarter ended Sept. 30. That was down from $150.2 million, or 21 cents a share, in the year-before period, when the results were boosted by an unrealized gain on derivatives.
Stripping out noncash items, profit was $88.3 million, or 12 cents a share, up from $31.5 million, or 5 cents a share, a year earlier.
Analysts polled by Thomson Reuters I/B/E/S had expected, on average, a profit of 14 cents a share.
Yamana, which has operations in Mexico, and Central and South America, produced 314,707 gold equivalent ounces, up 34 percent from the year-before quarter.
Revenue jumped 50 percent to $333.2 million on the stronger output and due to realized gold prices that jumped to $962 an ounce from $861 an ounce.
($1=$1.07 Canadian)
(Reporting by Cameron French; editing by Peter Galloway) Keywords: YAMANA/ (cameron.french@thomsonreuters.com; 416-941-8199: Reuters Messaging: cameron.french.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.