Yamana Gold Inc (NYSE:AUY) outshines on dividend front

Posted by Peter Lauro August 9, 2013 0 Comment 1371 views


The yellow metal continues to be in the red. Last quarter was no less

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than a bloodbath for gold and this quarter does not bode anything better for it. Gold dropped by a record 23% but its investor-rampage continues unabated. Last quarter, the precious metal trampled on most gold mining company stocks. Its next target- dividends that are being offered by gold companies.

AUY shines

The one ray of sunshine is that not all stocks have been affected as badly and companies like Yamana Gold Inc (NYSE:AUY) have not cut-down or pulled-back their dividend payout plans. AUY has Advanced Scanning: The software has options for high-powered advanced scanning modes to assist with more complicated hard drive recovery service recoveries. just announced its Q3 payout. There was a quarterly drop of $150.9M or $0.20/share, in the company’s cash-flow in comparison with the $214M or $0.29 that it stood at in the same quarter of 2012.

This was casino sufficient to cover the company’s $0.065/share dividend. And unlike most of its peers, Yamana Gold did not take any impairment-charges in the quarter.

Increased production

AUY produced a little more than 295,000 gold equivalent ounces at a $476/ounce of gold-equivalent of cash cost. On a co-product basis, at $950 per ounce the entire all-in sustaining costs stand at much higher levels. The company revenue stood at $430.5 million in comparison to the $535.7 million that it stood at in the same quarter in 2012. This drop has been attributed to the dip in gold prices.

The company’s gold production increased from 295,600 to 288,700 gold-equivalent ounces. This increase was largely attributed to the 16% production rise at AUY’s Chilean El Penon mine. The increased average gold-head grade led to the higher output at this mine.

The company that thinks differently

AUY is expecting to raise the recovery rate of silver in the latter half of 2013. While some gold mining companies feel that it is necessary for them to take impairment charges on their assets due to the lower prices of the metal, Yamana Gold thinks otherwise.



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