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Tuesday, September 25th, 2018 - Buy Gold - Bringing you trusted gold news and gold investing information since 2006

Gold Miners Reports Outstanding Financials

Many gold miners are presently making public their second-quarter financial reports of which most results are really outstanding. Companies that produce gold have learnt over the years never to worry about hedging the price at which they sell gold because the price of gold has always been uniformly strong that no gold miner needs hedge gold price in a major way in order to protect their profits particularly when the price of the precious metal has always been hitting new highs regularly.

Yamaha Gold Incorporated, a company listed on the New York Stock Exchange (NYSE/AUY) is a company that can be used to gauge the state of health of the gold mining industry. Worth over $10.0 billion in stock market capitalization, Yamaha Gold Incorporated is well liquid and with significant gold production in Chile, Brazil, Argentina, Central America, and Mexico, this Canadian gold mining company grew its revenues to $573.3 million in the second quarter on an aggregate sale of 220,376 ounces of gold without considering its operation in Alumbrera, 2.1 million ounces of silver, and 41.6 million pounds of copper.

Compared with the revenue generated the same quarter of the 2010, Yamaha Gold Inc. made $221.9 million excess income. In the same quarter of last year, the company made $351.4 million revenue on the sale of 186.921 ounces of gold without adding its production in Alumbrera, 2.6 million ounces of silver, and 31.6 pounds of copper which is an excellent financial growth if you weigh the two results properly.

The net earnings of Yamaha during the last quarter is $194.7 million which represents 178 per cent increase over its earnings generated during the same period last year. The earnings per share of Yamaha increased by 189 per cent to $0.26 on a basic and diluted basis and cash flow produced from its operations increased to $331.0 million or $0.44 per share in comparison to $194.3 million or $0.26 per share for the second quarter of 2010.

The company management ascribed the excellent financial results of the company to cost control measures, the increase in the volumes of gold, silver and copper, and the higher prices the commodities have attained in the international markets. The gold industry is one that is loaded with cash at the moment as shown by the recent financials of Yamaha Gold Incorporated. The company’s record shows cash position of $520 million which represents an increase of $190.4 million since last year December.


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