FILE - In a Tuesday, Aug. 14, 2012, file photo, aperson walks toward a Home Depot in Nashville, Tenn. Home Depot’s fiscal fourth-quarter net income surged 32 percent, the home improvement retailer said Tuesday Feb. 26, 2013. (AP Photo/Mark Humphrey, File)
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FILE - In a Tuesday, Aug. 14, 2012, file photo, aperson walks toward a Home Depot in Nashville, Tenn. Home Depot’s fiscal fourth-quarter net income surged 32 percent, the home improvement retailer said Tuesday Feb. 26, 2013. (AP Photo/Mark Humphrey, File)
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In this Friday, Jan. 25, 2013, photo, Trader Michael Urkonis, center, works on the floor of the New York Stock Exchange. Wall Street appeared headed for a day of trade without drama Monday Jan. 28, 2013. (AP Photo/Richard Drew)
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FILE- In this Friday, May 18, 2012, file photo, the animated facade of the Nasdaq MarketSite, welcomes the Facebook IPO, in New York's Times Square. On Monday, Nov. 26, 2012, Facebook's stock climbed after an upgrade from an analyst who believes Wall Street is underestimating the company's potential to grow revenue. (AP Photo/Richard Drew, File)
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In this Thursday, Sept. 22, 2011, photo, employees at Groupon pose in silhouette by the company logo in the lobby of the online coupon company's Chicago offices. Groupon Inc., the No. 1 online deals service, failed to show investors on Thursda, Nov. 8, 2012, that its business is growing as quickly as they would like, as it was hurt by what it called "continued challenges" from the economic weakness in Europe. (AP Photo/Charles Rex Arbogast)
McEwen Mining shares rise on production, outlook
NEW YORK (
AP) —
McEwen Mining's U.S. shares rose 4 percent before Monday's opening bell after the company announced 2012 gold production that was in line with its expectations and projected a production increase for 2013.
The Canadian miner said its fourth-quarter gold equivalent production totaled 32,220 ounces, including 17,578 gold ounces and 761,377 silver ounces. Full-year production totaled 105,050 gold equivalent ounces, including 48,876 gold ounces and 2.9 million silver ounces. The company said that met the company's guidance for 2012.
For 2013, the company expects production to grow 24 percent to 130,000 gold equivalent ounces. The projection call for 72,310 gold ounces and 3 million silver ounces.
McEwen shares were steady at $2.64 in midday trading after trading in a range of $2.60 to $2.77 in the morning.
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