Yamana Gold (NYSE:AUY) Price Target Raised to $3.50

Yamana Gold (NYSE:AUY) (TSE:YRI) had its price objective upped by stock analysts at Royal Bank of Canada from $3.00 to $3.50 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective points to a potential downside of 3.05% from the company’s previous close.

AUY has been the subject of a number of other reports. TD Securities decreased their price objective on Yamana Gold from $4.25 to $3.50 and set a “buy” rating for the company in a research report on Monday, July 8th. Zacks Investment Research raised Yamana Gold from a “hold” rating to a “strong-buy” rating and set a $3.00 price objective for the company in a research report on Monday, July 8th. Raymond James increased their price objective on Yamana Gold from $3.25 to $3.50 and gave the stock a “market perform” rating in a research report on Monday, July 29th. CIBC reaffirmed a “buy” rating and set a $4.00 price objective on shares of Yamana Gold in a research report on Monday, July 29th. Finally, GMP Securities cut Yamana Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Yamana Gold has an average rating of “Hold” and an average target price of $3.28.

NYSE:AUY traded up $0.16 during mid-day trading on Wednesday, reaching $3.61. 2,075,009 shares of the stock were exchanged, compared to its average volume of 16,619,954. The company has a 50 day moving average of $2.70. The firm has a market capitalization of $3.43 billion, a PE ratio of 29.75 and a beta of 0.96. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.46. Yamana Gold has a 1 year low of $1.78 and a 1 year high of $3.49.

Yamana Gold (NYSE:AUY) (TSE:YRI) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $463.50 million for the quarter, compared to the consensus estimate of $448.19 million. Yamana Gold had a positive return on equity of 2.32% and a negative net margin of 7.49%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. Sell-side analysts expect that Yamana Gold will post 0.06 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. GFS Advisors LLC acquired a new stake in shares of Yamana Gold in the 2nd quarter valued at approximately $25,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Yamana Gold in the 1st quarter valued at approximately $28,000. Cetera Advisor Networks LLC acquired a new stake in shares of Yamana Gold in the 1st quarter valued at approximately $35,000. Clean Yield Group purchased a new position in Yamana Gold in the 1st quarter valued at approximately $37,000. Finally, AE Wealth Management LLC purchased a new position in Yamana Gold in the 2nd quarter valued at approximately $55,000. 43.86% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Yamana Gold (NYSE:AUY)

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