By Adria Calatayud

 

Polyus PJSC said Thursday that fourth-quarter profit and revenue rose as higher gold prices offset a drop in production.

The Russian gold miner said profit for the quarter rose to $835 million, up 20% on year, on revenue that increased 18% to $1.52 billion.

Adjusted earnings before interest, taxes, depreciation and amortization for the quarter were up 29% at $1.14 billion.

Gold production for the quarter fell 12% on year to 710,000 ounces, but average refined gold selling prices were 26% higher, Polyus said.

The company said it expects total gold output of around 2.7 million ounces in 2021, including a temporary reduction of head grades at its Olimpiada operation in Russia.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

February 25, 2021 03:17 ET (08:17 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
PJCS Polyus (PK) (USOTC:OPYGY)
Historical Stock Chart
From Apr 2022 to May 2022 Click Here for more PJCS Polyus (PK) Charts.
PJCS Polyus (PK) (USOTC:OPYGY)
Historical Stock Chart
From May 2021 to May 2022 Click Here for more PJCS Polyus (PK) Charts.