Weak Production and Rising Costs Prevent Yamana From Enjoying Higher Gold Price; Lowering Fair Value
Yamana reported a disappointing third quarter, making it one of the few companies we cover to post weak results amid a favorable gold price environment. While realized gold and silver prices rose roughly 20% and 30% over the prior year's quarter, a mild 3% increase in gold production and a massive 23% decline in silver production weighed on performance. Worse still, gold and silver co-product cash costs per ounce increased 8% and 12%, respectively.So while better metals prices helped, Yamana’...
Yamana Gold is engaged in the exploration, development, extraction, processing and reclamation of gold and other precious metals mining throughout the Americas including Brazil, Argentina, Chile, Mexico and Colombia. As of Dec 31 2011, total proven reserves for gold, silver, cooper, zinc and molybdenum was 618,709,000 tonnes, 27,316,000 tonnes, 387,660,000 tonnes, 5,004,000 tonnes and 32,000,000 tonnes, respectively.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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