- Yamana Gold commences trading again in London.
- Production guidance for 2020 has been increased.
Canadian miner Yamana Gold (AUY) has re-joined the London Stock Exchange after announcing the move in July. It is now one the top miners, sitting only below Polyus (PLZL) and Polymetal (POLY) in terms of production.
It has pitched itself as a safer choice than the Russia- and Africa-focused miners, given its production is centred in the Americas, and has increased its payout in recent months. It now plans to pay out 10.5c as its annual dividend.
Yamana was listed in London between 2003 and 2013, and is also on the Toronto and New York boards.
Executive chairman Peter Marrone said the company was looking for institutional money in Europe, and was focused on organic growth from cash flow.
The company owns five mines, including a 50 per cent stake in Canada’s largest gold operation, which produced 670,000 ounces (oz) in 2019. Last week, the company upped 2020 guidance by 3 per cent to 890,000-915,000 gold equivalent ounces, which is gold and silver output combined. This is a drop on 2019 because of Covid-related suspensions, although the company has upped its dividend in recent months because of the strength of the gold price.
