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Yamana Gold stock price holds up despite big dividend cut

  • Shares of Yamana Gold (AUY +0.1%) are staying near the flatline even after the miner missed Q4 earnings estimates and cut its dividend by 42%.
  • Lower adjusted earnings were attributed to lower realized metal prices, lower volume of metal sales, higher cash costs and an equity loss from AUY's 12.5% interest in the Alumbrera mine; the company wrote down $574M in impairment charges for 2013, virtually all of it in Q4.
  • Total Q4 production was 303,768 gold equiv. oz., a 6% Y/Y decrease, consisting of 260,187 oz. of gold and 2.2M oz. silver vs. 276,373 oz. of gold and 2.3M oz. of silver produced in the year-ago quarter.
  • AUY’s results and write-downs reflect what is happening to gold miners in general, but gold bugs apparently are not convinced.
Comments (3)
  • goldnugget
    , contributor
    Comments (37) | Send Message
     
    In the current war against the precious metals, under performance is the rule that applies to all. The powers that be are not going to allow the paper gold to surrender to the metal gold without an all out war. We need to remember, that the Hierarchy must be preserved no matter what the cost. This is to be expected in this current climate however, the Chinese will have the final word on where gold - the metal is going in price - not the U.S. - not London nor anyone else in the WEST ! Only a fool would be trusting in paper $ to ride out this nuclear economic holocaust with.
    19 Feb, 02:45 PM Reply Like
  • dancing duke
    , contributor
    Comments (59) | Send Message
     
    well janet y put the price back in its place,not yri awful results and skating conference call
    19 Feb, 05:59 PM Reply Like
  • goldnugget
    , contributor
    Comments (37) | Send Message
     
    I think Janet Yellen will call another "taper" call but by summer, will be calling a reverse on "tapering" and begin to re-start QE (perhaps under another name), still QE, nonetheless ! It is either, print or die for the Federal Reserve ! There are no other options unless, they put the price of Gold up to around $ 10,000 per oz. and throw Gold at the U.S. mega Debt to pay it down.
    21 Feb, 02:55 AM Reply Like
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