Yamana Gold misses 2013 output target, but shares jump

摘要

Yamana Gold Inc reported 2013 production that missed its forecasts but said the problems that caused the shortfall were resolved by the end of the year and its shares jumped after the news. The Toronto-based miner, which has operations in Mexico, Brazil, Chile and Argentina, had warned in October that it could miss its 2013 production target but did not give a revised forecast. Yamana said issues at some of its new mines weighed on output. It produced about 1.2 moz gold equivalent in 2013, below its July forecast of between 1.32 and 1.37 moz gold equivalent.