Zacks Investment Research Upgrades Yamana Gold (NYSE:AUY) to “Strong-Buy”

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Zacks Investment Research upgraded shares of Yamana Gold (NYSE:AUY) (TSE:YRI) from a hold rating to a strong-buy rating in a research note published on Monday morning, Zacks.com reports. The brokerage currently has $3.00 target price 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. “

A number of other research firms have also weighed in on AUY. Raymond James lowered First Midwest Bancorp to a hold rating in a research note on Monday. ValuEngine raised USINAS SIDERURG/S from a sell rating to a hold rating in a research note on Wednesday, May 29th. National Bank Financial lowered Detour Gold to a hold rating in a research note on Friday, June 28th. GMP Securities lowered Yamana Gold from a buy rating to a hold rating in a research note on Wednesday, April 17th. Finally, TD Securities dropped their price objective on Yamana Gold from $4.25 to $3.50 and set a buy rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $3.15.

Shares of NYSE AUY traded down $0.08 during mid-day trading on Monday, reaching $2.55. The company’s stock had a trading volume of 608,398 shares, compared to its average volume of 12,203,113. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 21.42 and a beta of 0.93. The company has a quick ratio of 0.52, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The firm’s fifty day simple moving average is $2.21. Yamana Gold has a 52 week low of $1.78 and a 52 week high of $3.23.

Yamana Gold (NYSE:AUY) (TSE:YRI) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $407.10 million during the quarter, compared to analyst estimates of $414.49 million. Yamana Gold had a positive return on equity of 3.09% and a negative net margin of 7.41%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.17) earnings per share. As a group, equities research analysts anticipate that Yamana Gold will post 0.03 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. boosted its position in Yamana Gold by 67.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 5,090,583 shares of the basic materials company’s stock valued at $13,287,000 after acquiring an additional 2,046,440 shares in the last quarter. Cerebellum GP LLC boosted its position in Yamana Gold by 58.7% during the 1st quarter. Cerebellum GP LLC now owns 124,193 shares of the basic materials company’s stock valued at $324,000 after acquiring an additional 45,953 shares in the last quarter. Marshall Wace North America L.P. boosted its position in Yamana Gold by 1,678.6% during the 1st quarter. Marshall Wace North America L.P. now owns 222,322 shares of the basic materials company’s stock valued at $580,000 after acquiring an additional 209,822 shares in the last quarter. Teza Capital Management LLC bought a new stake in Yamana Gold during the 1st quarter valued at $546,000. Finally, King Luther Capital Management Corp bought a new stake in Yamana Gold during the 1st quarter valued at $104,000. 43.71% of the stock is owned by institutional investors.

Yamana Gold Company Profile

Yamana Gold Inc engages in operating mines, development stage projects, and exploration and mineral properties primarily in Canada, Brazil, Chile, and Argentina. The company primarily sells precious metals, including gold, silver, and copper. Its principal mining properties comprise the Chapada and Jacobina mines in Brazil; the Canadian Malartic mine in Canada; and the Cerro Moro mine in Argentina and the El Peñón and Minera Florida mines in Chile.

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Analyst Recommendations for Yamana Gold (NYSE:AUY)

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