Zacks Investment Research upgraded shares of Yamana Gold (NYSE:AUY) (TSE:YRI) from a sell rating to a buy rating in a research note published on Thursday. Zacks Investment Research currently has $2.75 price objective on the basic materials company’s stock.

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 equities analysts have also recently weighed in on the company. ValuEngine upgraded Yamana Gold from a strong sell rating to a sell rating in a report on Thursday, October 18th. Barclays began coverage on shares of Yamana Gold in a research report on Wednesday, October 10th. They set an underweight rating and a $2.50 price objective for the company. National Bank Financial restated a buy rating on shares of Yamana Gold in a research report on Monday, November 12th. HSBC downgraded shares of Yamana Gold from a buy rating to a hold rating in a research report on Friday, November 16th. Finally, Raymond James set a $3.00 price objective on shares of Yamana Gold and gave the stock a hold rating in a report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Yamana Gold presently has an average rating of Hold and an average price target of $3.38.

Yamana Gold stock traded up $0.01 during mid-day trading on Thursday, hitting $2.43. 7,840,991 shares of the company’s stock were exchanged, compared to its average volume of 10,030,562. The company has a market capitalization of $2.36 billion, a PE ratio of 30.38 and a beta of 0.61. Yamana Gold has a fifty-two week low of $2.00 and a fifty-two week high of $3.80. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44.

Yamana Gold (NYSE:AUY) (TSE:YRI) last released its earnings results on Thursday, October 25th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The firm had revenue of $416.80 million during the quarter. Yamana Gold had a positive return on equity of 3.46% and a negative net margin of 23.32%. Analysts predict that Yamana Gold will post 0.1 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Friday, December 28th will be paid a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Thursday, December 27th. Yamana Gold’s payout ratio is 25.00%.

A number of hedge funds and other institutional investors have recently modified their holdings of AUY. Tobam grew its position in Yamana Gold by 40.9% during the third quarter. Tobam now owns 387,800 shares of the basic materials company’s stock valued at $966,000 after buying an additional 112,600 shares during the period. Natixis boosted its stake in Yamana Gold by 52.9% during the 2nd quarter. Natixis now owns 124,690 shares of the basic materials company’s stock worth $361,000 after purchasing an additional 43,139 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Yamana Gold by 220.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 147,005 shares of the basic materials company’s stock worth $426,000 after purchasing an additional 101,097 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Yamana Gold by 25.1% during the 2nd quarter. Renaissance Technologies LLC now owns 8,435,275 shares of the basic materials company’s stock worth $24,462,000 after purchasing an additional 1,694,400 shares during the last quarter. Finally, FMR LLC boosted its stake in Yamana Gold by 24.4% during the 2nd quarter. FMR LLC now owns 1,480,620 shares of the basic materials company’s stock worth $4,314,000 after purchasing an additional 290,000 shares during the last quarter. 43.13% of the stock is owned by institutional investors.

About Yamana Gold

Yamana Gold Inc operates as 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 primarily sells precious metals, including gold, silver, and copper. It also holds an option to earn a 70% ownership interest in the TPK property, a gold-silver-copper property located in northwestern Ontario.

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