Yamana Gold Q4 Profit Soars On Higher Gold Prices; Backs 2011 Production Outlook
Canadian gold mining company Yamana Gold, Inc. reported Wednesday that profit for the fourth quarter soared from last year, reflecting higher gold prices, lower unrealized foreign exchange losses as well as stock-based and other compensations. Excluding items, adjusted earnings per share surged and came in above analysts’ expectations by a penny. The company reaffirmed its production outlook for the full-year 2011.