Yamana Gold (YRI) Trading Down 2.9%

Yamana Gold Inc. (TSE:YRI) (NYSE:AUY) shares traded down 2.9% during trading on Thursday . The company traded as low as C$3.40 and last traded at C$3.40. 2,867,475 shares were traded during mid-day trading, a decline of 29% from the average session volume of 4,013,427 shares. The stock had previously closed at C$3.50.

A number of research analysts recently commented on the company. National Bank Financial cut Yamana Gold from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$6.25 to C$4.75 in a research note on Friday, October 27th. Eight Capital restated a “buy” rating on shares of Yamana Gold in a research report on Thursday, November 16th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Yamana Gold currently has a consensus rating of “Buy” and a consensus target price of C$5.28.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be given a dividend of $0.006 per share. This represents a $0.02 annualized dividend and a yield of 0.74%. This is a positive change from Yamana Gold’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, December 28th. Yamana Gold’s dividend payout ratio is presently -4.17%.

In other news, insider Ross Douglas Gallinger bought 14,500 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of C$3.43 per share, for a total transaction of C$49,735.00. Also, Director Peter Marrone bought 50,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were purchased at an average price of C$3.45 per share, with a total value of C$172,500.00. Over the last 90 days, insiders have acquired 144,400 shares of company stock valued at $496,226.

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About Yamana Gold

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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