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

Zacks Investment Research upgraded shares of Yamana Gold (NYSE:AUY) (TSE:YRI) from a hold rating to a strong-buy rating in a report released on Monday morning, Zacks.com reports. Zacks Investment Research 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. “

Other research analysts also recently issued reports about the stock. TD Securities reduced their target price on shares of Yamana Gold from $4.25 to $3.50 and set a buy rating for the company in a research report on Monday. ValuEngine raised shares of USINAS SIDERURG/S from a sell rating to a hold rating in a research report on Wednesday, May 29th. Royal Bank of Canada set a $147.00 target price on shares of Ameriprise Financial and gave the company a hold rating in a research report on Friday, April 26th. Desjardins reissued a hold rating on shares of Yamana Gold in a research report on Monday, April 22nd. Finally, GMP Securities downgraded shares of Yamana Gold from a buy rating to a hold rating in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $3.15.

NYSE:AUY opened at $2.56 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.52 and a current ratio of 0.93. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 18.79 and a beta of 0.93. Yamana Gold has a 52 week low of $1.78 and a 52 week high of $3.23. The company has a 50-day moving average price of $2.22.

Yamana Gold (NYSE:AUY) (TSE:YRI) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Yamana Gold had a negative net margin of 7.41% and a positive return on equity of 3.09%. The firm had revenue of $407.10 million during the quarter, compared to analyst estimates of $414.49 million. During the same quarter last year, the business posted ($0.17) EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. Analysts expect that Yamana Gold will post 0.03 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AUY. BlackRock Inc. grew its holdings in shares of Yamana Gold by 5.3% during the fourth quarter. BlackRock Inc. now owns 498,850 shares of the basic materials company’s stock valued at $1,177,000 after buying an additional 24,962 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Yamana Gold by 438.8% during the fourth quarter. Private Advisor Group LLC now owns 62,366 shares of the basic materials company’s stock valued at $147,000 after buying an additional 50,791 shares in the last quarter. Advisor Group Inc. grew its holdings in shares of Yamana Gold by 60.7% during the fourth quarter. Advisor Group Inc. now owns 35,022 shares of the basic materials company’s stock valued at $81,000 after buying an additional 13,229 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of Yamana Gold by 7.7% during the fourth quarter. Fiera Capital Corp now owns 224,900 shares of the basic materials company’s stock valued at $530,000 after buying an additional 16,000 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Yamana Gold by 2.8% during the fourth quarter. CIBC Asset Management Inc now owns 596,030 shares of the basic materials company’s stock valued at $1,402,000 after buying an additional 16,058 shares in the last quarter. 43.71% of the stock is owned by institutional investors.

About Yamana Gold

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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