Yamana Gold (NYSE:AUY) was downgraded by Zacks from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday, Marketbeat reports.
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. “
Shares of Yamana Gold (NYSE:AUY) traded up 2.04% during mid-day trading on Tuesday, hitting $3.00. 8,446,864 shares of the company’s stock traded hands. Yamana Gold has a 1-year low of $2.91 and a 1-year high of $9.04. The stock’s 50-day moving average is $3.51 and its 200-day moving average is $3.86. The company’s market cap is $2.74 billion.
Yamana Gold (NYSE:AUY) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $458.10 million for the quarter, compared to the consensus estimate of $482.18 million. During the same quarter last year, the company posted $0.02 earnings per share. Yamana Gold’s revenue was up 29.4% compared to the same quarter last year. Analysts expect that Yamana Gold will post $0.03 EPS for the current fiscal year.
A number of other firms have also recently commented on AUY. Analysts at Credit Suisse lowered their price target on shares of Yamana Gold from $4.75 to $3.75 and set a “neutral” rating on the stock in a research note on Wednesday, June 24th. Analysts at Morgan Stanley lowered their price target on shares of Yamana Gold from $5.50 to $5.00 in a research note on Wednesday, June 24th. Analysts at BMO Capital Markets initiated coverage on shares of Yamana Gold in a research note on Tuesday, June 16th. They set a “market perform” rating and a $3.75 price target on the stock. Analysts at National Bank Financial reiterated an “outperform” rating and set a $8.00 price target on shares of Yamana Gold in a research note on Monday, May 4th. Finally, analysts at TD Securities upgraded shares of Yamana Gold from a “hold” rating to a “buy” rating and raised their price target for the stock from $5.00 to $6.00 in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $6.05.
Yamana Gold Inc. (NYSE:AUY) is a Canada-based gold producer engaged in gold mining and related activities including exploration, extraction, processing and reclamation. The Company has precious metal properties and land positions throughout the Americas including in Brazil, Chile, Argentina, Mexico and Canada. The Company operates through five segments: Chapada mine in Brazil, El Penon mine in Chile, Gualcamayo mine in Argentina, Mercedes mine in Mexico and Canadian Malartic mine in Canada (50% interest). The Company also operates mines, including Minera Florida, Chile; Jacobina, and Brio Gold. The Company is engaged in development of Cerro Moro, Argentina; Agua Rica, Argentina, and Suyai, Argentina.
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