UPDATE: Gammon Gold Reports Q1 Profit of $19.3 million

Gammon Gold Inc GRS released its first quarter results on Thursday. The company reported its Q1 profit at $19.3 million, or $0.14 per share, versus $1.8 million, or $0.01 per share, in the year-earlier period. The latest period results includes a $0.05 per share charge associated to the restart of operations at its El Cubo mine. The company's revenue surged 19% to $70.3 million. However, analysts were expecting earnings of $0.16 per share on revenue of $71 million. GRS shares closed at $9.43 yesterday. Read more from Benzinga's Company news.