Yamana Gold is one of the components of the Amex Gold BUGS Index (the HUI), and it released its results last night: adjusted earnings were 14 cents per share for the fourth quarter of 2009 as compared with 47 cents in 4Q '08. 4Q '09 operating earnings were 23% above 4Q '08's.
Still, the market didn't take all that well to those results: Yamana was down more than 4% this morning before recovering slightly. The main reason, according to Forbes, is revenues were below expectations. Full-year earnings of 47 cents per share were one cent below expectations, which also had a downwards influence of the stock.
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