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Yamana Gold reduce their 2021 production guidance

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(Kitco News) - Yamana Gold (AUY:LSE & AUY:NYSE) release their 2020 Q4 update. The earning were reported yesterday in our company section but there has been some more news on the production for 2021.

Q4 net earnings were $103.0 million or $0.11 per share basic and diluted compared to net earnings of $14.6 million or $0.02 per share basic and diluted a year earlier. Adjusted net earnings were $107.7 million or $0.11 per share basic and diluted. Adding to this, FY net debt fell by $323.4 million to $565.7 million.

The good news stops there as the company stated "Production guidance for 2021 is slightly below the Company's guidance for 2021 from last year, entirely related to Cerro Moro.  A more conservative production risk adjustment has been applied to Cerro Moro during 2021 to reflect the continued impact of Covid-19 related restrictions, as experienced in December.  Costs for the mine have also been commensurately risk-adjusted.".

Despite the news on guidance, the share price pushed higher in the London session. It will remain to be seen if the US traders look to the news in the same light. 

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