Yamana Gold Inc. (TSX: YRI) announced today the company’s financial results for Q2 2021, highlighting US$437.4 million in revenue. This is an increase from Q2 2020’s revenue of US$303.4 million.
On the operations side, the company produced 241,341 gold equivalent ounces for the quarter, including 217,402 gold ounces and 1.6 million silver ounces. For the same period last year, production results were at 164,141 gold ounces and 2.0 million silver ounces. The increase in gold production is being attributed to results from Jacobina and Canadian Malartic sites which the company deems as “all-time quarterly highs.”
However, the company posted a net loss of US$94.1 million for the quarter compared to last year’s break-even. Recording the deferred income tax expense of $145.3 million associated with the tax rate increase in Argentina impacted the company’s quarterly bottom line.
The net loss attributable to Yamana Gold equity holders and non-controlling interests came in at US$43.9 million and $50.2 million, respectively. Effectively, this quarter’s net loss for shareholders translates to US$0.05 loss per share.
For the quarter, the company posted US$153.5 million cash flow from operating activities, up from last year’s US$92.2 million. The balance sheet also recorded quarter-end cash and cash equivalents of US$702.0 million, an increase from the December 31, 2020 balance of US$651.2 million.
Yamana Gold last traded at $5.39 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
