AUY - Yamana cites Cerro Moro restrictions for below-guidance production

Yamana Gold (AUY) reports flat Q4 gold production of 221,659 oz. from the year-ago quarter and a 13% Y/Y decline to 2.59M oz. of silver.Yamana expects Q4 operating cash flow before net change in working capital to reach the highest quarterly level of the year, exceeding Q3's $199M.H2 2020 costs are expected to come in above the guided range of $1,020-$1,060/gold equiv. oz., mostly due to operational matters associated with the pandemic, particularly at Cerro Moro, which reduced production.Yamana says full-year production of 901,155 gold equiv. oz., including 779,810 oz. of gold and 10.37M oz. of silver, came in below revised guidance of 915K gold equiv. oz.The miner says production for the year reached an all-time high and increased for the seventh consecutive year at Jacobina, while Peñón, Canadian Malartic and Minera Florida all were well above plan.Given Yamana's industry-leading organic growth profile, improving cost profile and competitive dividend yield, share

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Yamana cites Cerro Moro restrictions for below-guidance production