Yamana Gold (AUY) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Yamana Gold (NYSE:AUY) (TSE:YRI) from a sell rating to a buy rating in a research report released on Thursday morning. The firm currently has $2.75 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 equities research analysts have also weighed in on the stock. National Bank Financial reaffirmed a buy rating on shares of Yamana Gold in a research note on Monday, November 12th. BMO Capital Markets cut shares of Yamana Gold from an outperform rating to a market perform rating and set a $3.00 price target on the stock. in a report on Monday, December 10th. HSBC cut shares of Yamana Gold from a buy rating to a hold rating in a report on Friday, November 16th. ValuEngine upgraded shares of Yamana Gold from a strong sell rating to a sell rating in a report on Thursday, October 18th. Finally, Barclays started coverage on shares of Yamana Gold in a research report on Wednesday, October 10th. They issued an underweight rating and a $2.50 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $3.38.

Shares of AUY traded up $0.01 on Thursday, reaching $2.43. The company’s stock had a trading volume of 7,840,991 shares, compared to its average volume of 10,030,562. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.01 and a quick ratio of 0.71. Yamana Gold has a twelve month low of $2.00 and a twelve month high of $3.80. The firm has a market capitalization of $2.36 billion, a PE ratio of 30.38 and a beta of 0.61.

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 for the quarter, beating 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 negative net margin of 23.32% and a positive return on equity of 3.46%. As a group, analysts expect that Yamana Gold will post 0.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Investors 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 of this dividend is Thursday, December 27th. Yamana Gold’s payout ratio is currently 25.00%.

Several institutional investors and hedge funds have recently bought and sold shares of AUY. Cerebellum GP LLC grew its holdings in shares of Yamana Gold by 7.6% during the fourth quarter. Cerebellum GP LLC now owns 78,240 shares of the basic materials company’s stock valued at $185,000 after buying an additional 5,518 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Yamana Gold by 17.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 95,376 shares of the basic materials company’s stock worth $238,000 after buying an additional 14,064 shares during the period. Marshall Wace North America L.P. boosted its holdings in Yamana Gold by 144.9% in the 3rd quarter. Marshall Wace North America L.P. now owns 34,900 shares of the basic materials company’s stock worth $87,000 after buying an additional 20,648 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Yamana Gold by 11.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 235,937 shares of the basic materials company’s stock worth $588,000 after purchasing an additional 23,950 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Yamana Gold by 4.7% in the 2nd quarter. Northern Trust Corp now owns 642,400 shares of the basic materials company’s stock worth $1,862,000 after purchasing an additional 28,653 shares in the last quarter. 43.13% of the stock is currently owned by institutional investors and hedge funds.

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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