What's happening with the Ramelius (ASX:RMS) share price?

ASX 200 gold miner Ramelius Resources' share price is edging after reporting on its gold production. We look at the details.

Bernd Struben

Author bio Bernd Struben earned his BA in economics from the University of Michigan in 1991, with post-graduate studies in environmental economics at the University of Connecticut. Over the years he’s written about and analysed the tourism industry in the Caribbean; Europe’s commercial real estate markets; and, since moving to Australia in 2010, global and Aussie share markets. Bernd studies geopolitical and macroeconomic trends, alongside sector and company specific data, to gauge what he believes could be tomorrow's best investments. In his free time, you might find Bernd at the beach with his family or working on his next science fiction novel. Areas of expertise Australian and global share markets Macroeconomic and geopolitical trends Real estate Education Economics, University of Michigan Favorite investment quote "The four most dangerous words in investing are: 'This time it's different." — Sir John Templeton

Published April 7, 2021 11:18 am AEST

The Ramelius Resources Ltd (ASX: RMS) share price is edging higher in morning trade, up 2%.

We take a look at the S&P/ASX 200 Index (ASX: XJO) gold shares latest production update below.

Hand holding gold nugget reflecting Newcrest Mining share price today — Image source: Getty Images

What did Ramelius Resources report on its gold production?

Ramelius shares are edging higher after the company reported it had achieved gold production guidance for the 2021 March quarter. Ramelius had forecast production in the range of 65,000—70,000 ounces of gold and achieved 66,029 ounces during the quarter.

41,832 ounces were produced at the gold miner's Mt Magnet mine (including Vivien). While the remain 24,197 ounces came from its Edna May mine (including Marda).

Ramelius said it managed to achieve guidance despite a motor drive bearing failure at its Edna May SAG mill in March. All told, the mill was out of action for 7 days before recommencing production.

The company also reported an improvement in its cash and gold on hand, which increased to $230.6 million from $221.5 million at the end of the December 2020 quarter.

The ASX 200 gold miner will release its full quarterly report later in April.

Share price snapshot

Ramelius shares are up 53% over the past 12 months, compared to a gain of 31% on the ASX 200. Year-to-date it's been a bit choppier for the gold producer, with shares down just under 10% so far in 2021.

At the current price of $1.61 per share, Ramelius has a market cap of $1.3 billion and pays an annual dividend yield of 1.3%.

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