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Centerra Q2 profits surge, dividend raised | |
admin | |
2020-07-31 | |
发布年 | 2020 |
语种 | 英语 |
国家 | 国际 |
领域 | 地球科学 |
正文(英文) | ![]() The Öksüt mine, located in the south-central Kayseri province, began commercial production in Q2 2020. Image from Centerra Gold.
Centerra Gold (TSX: CG) announced on Friday that the company recorded net income of $80.7 million, or $0.27 per share for the second quarter of 2020, more than double the $33.4 million or $0.11 per share earned in the same period of the prior year. Adjusted net earnings came to $97.8 million or $0.33 per share, compared with $33.4 million or $0.11 per share in Q2 2019. Revenues rose to $412.7 million from $340.5 million as the company produced 219,692 ounces of gold and 19.1 million pounds of copper at costs of $410/oz gold and $1.20/lb copper sold. The Q2 2020 results exceeded estimates, as Centerra was expected to post adjusted earnings of $0.22 per share on $368.9 million in revenues, according to financial markets data firm Refinitiv.
During the three-month period, Centerra generated $268.1 million in cash flow from operations, ending the quarter with $212 million in cash position and total liquidity of $712 million. The company received an additional cash boost at the end of May, when its Öksüt mine in Turkey reached commercial production, generating operating cash flow of $13.5 million and free cash flow of $5 million. Production and cost guidance for the full year remains unchanged, and the company expects to release a technical report for the Kumtor mine in the Kyrgyz Republic this fall. Concurrent with releasing its Q2 earnings, the Canadian miner is also raising its quarterly dividend by 25% to C$0.05 per common share. The decision was made based on its strong operating performance and the higher gold price environment, the company said in a press release. |
URL | 查看原文 |
来源平台 | Minging.com |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/285513 |
专题 | 地球科学 |
推荐引用方式 GB/T 7714 | admin. Centerra Q2 profits surge, dividend raised. 2020. |
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