Yamana Gold to begin trading on the London Stock Exchange

Yamana has increased full-year production guidance to 915,000 ounces of gold equivalent from its previous target of 890,000 ounces.

The Toronto-based company also said it was increasing full-year production guidance to 915,000 ounces of gold equivalent from its previous target of 890,000.

Exceptional operational performances in the June quarter from the company’s Jacobina mine, in Brazil, El Peñón and Minera Florida, in Chile, as well as Canadian Malartic, prompted the company to re-think plans.

Yamana churned out of 201,772 ounces of gold and 3.04 million ounces of silver production in the three months to Sept. 30. Total gold equivalent production was 240,466 ounces. 

The miner is also hiking its dividend by a further 50% to $0.105/share for the fourth quarter of the year. At the new rate, it said, the dividend would be 425% higher than it was just 18 months ago.

It also noted that it continues to advance studies related to define and expand the underground mineral resources at Canadian Malartic, located in the Abitibi region of Quebec, Canada.

Yamana’s stock on the NYSE was up more than 5% Thursday morning to $5.84. Shares in the company were also climbing in Toronto — 3.5% to C$7.62, leaving it with a C$7.24 billion market capitalization.

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