Yamana Gold Inc. (AUY) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Yamana Gold Inc. (NYSE:AUY) (TSE:YRI) from a strong sell rating to a hold rating in a report published on Friday.
According to Zacks, “Yamana Gold is a Canadian gold producer with significant gold production, gold and copper-gold development stage properties, exploration properties and land positions in all major mineral areas in Brazil. “
Several other research firms have also recently commented on AUY. Royal Bank Of Canada set a $4.00 target price on shares of Yamana Gold and gave the company a buy rating in a research note on Tuesday, July 18th. BidaskClub upgraded shares of Yamana Gold from a sell rating to a hold rating in a research note on Friday, June 30th. Finally, TD Securities set a $4.00 target price on shares of Yamana Gold and gave the company a buy rating in a research note on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $3.54.
Yamana Gold (AUY) traded down 0.73% during midday trading on Friday, reaching $2.72. 5,622,470 shares of the company traded hands. The stock’s market capitalization is $2.58 billion. Yamana Gold has a 12 month low of $2.21 and a 12 month high of $3.95. The firm has a 50 day moving average of $2.77 and a 200-day moving average of $2.68.
Yamana Gold (NYSE:AUY) (TSE:YRI) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.07). Yamana Gold had a positive return on equity of 0.42% and a negative net margin of 23.63%. The firm had revenue of $428.10 million during the quarter, compared to analyst estimates of $428.65 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Yamana Gold’s quarterly revenue was down 2.3% compared to the same quarter last year. Analysts forecast that Yamana Gold will post $0.03 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, September 28th. Yamana Gold’s dividend payout ratio (DPR) is presently -4.44%.
Institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its holdings in Yamana Gold by 67.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 431,901 shares of the basic materials company’s stock valued at $1,050,000 after buying an additional 174,543 shares during the period. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in Yamana Gold by 48.5% in the 2nd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 241,725 shares of the basic materials company’s stock valued at $583,000 after buying an additional 79,000 shares during the period. CIBC World Markets Inc. bought a new stake in Yamana Gold in the 2nd quarter valued at $2,127,000. Ameriprise Financial Inc. bought a new stake in Yamana Gold in the 2nd quarter valued at $11,066,000. Finally, Shell Asset Management Co. increased its holdings in Yamana Gold by 8.4% in the 2nd quarter. Shell Asset Management Co. now owns 748,224 shares of the basic materials company’s stock valued at $2,432,000 after buying an additional 58,151 shares during the period. 42.39% of the stock is currently owned by hedge funds and other institutional investors.
Yamana Gold Company Profile
Yamana Gold Inc is a gold producer with gold production, gold development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. The Company’s segments include Chapada mine in Brazil; El Penon mine in Chile; Canadian Malartic mine in Canada; Gualcamayo mine in Argentina; Minera Florida mine in Chile; Jacobina mine in Brazil; Brio Gold Inc (Brio Gold), and Corporate and other.
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