Yamana’s First-Quarter Results Don't Inspire Optimism About Its Prospects; Shares Fairly Valued
During the first quarter of 2019, Yamana produced more than 270,000 gold equivalent ounces (GEO), roughly 30% above production in the prior-year period due to the opening of Cerro Moro. The new mine also helped bring companywide costs down, with cash costs falling 5% over the prior year to $666 per GEO and all-in sustaining costs (AISC) falling 6% to $930 per ounce.However, beyond the opening of Cerro Moro, we don’t see a lot of opportunity for expanded production or lower costs over the near t...
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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