Royal Bank of Canada Trims Yamana Gold (AUY) Target Price to $3.50

Yamana Gold (NYSE:AUY) (TSE:YRI) had its price objective cut by Royal Bank of Canada from $3.75 to $3.50 in a research note issued to investors on Tuesday. They currently have an outperform rating on the basic materials company’s stock.

AUY has been the subject of a number of other research reports. Credit Suisse Group reissued an outperform rating on shares of Yamana Gold in a research report on Monday, September 10th. Raymond James boosted their target price on Yamana Gold from $3.50 to $3.75 and gave the stock a market perform rating in a research report on Monday, July 30th. ValuEngine lowered Yamana Gold from a sell rating to a strong sell rating in a research report on Friday, August 3rd. TheStreet raised Yamana Gold from a d+ rating to a c rating in a research report on Friday, July 27th. Finally, Zacks Investment Research raised Yamana Gold from a sell rating to a hold rating in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $3.59.

Shares of NYSE:AUY opened at $2.38 on Tuesday. Yamana Gold has a fifty-two week low of $2.23 and a fifty-two week high of $3.80. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 15.67 and a beta of 0.91.

Yamana Gold (NYSE:AUY) (TSE:YRI) last issued its earnings results on Thursday, October 25th. The basic materials company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. Yamana Gold had a positive return on equity of 3.46% and a negative net margin of 23.32%. The business had revenue of $416.80 million during the quarter. Sell-side analysts forecast that Yamana Gold will post 0.08 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AUY. Cerebellum GP LLC purchased a new stake in shares of Yamana Gold during the 2nd quarter valued at about $172,000. Signition LP purchased a new stake in shares of Yamana Gold during the 3rd quarter valued at about $240,000. ARP Americas LP increased its position in shares of Yamana Gold by 144.6% during the 2nd quarter. ARP Americas LP now owns 113,500 shares of the basic materials company’s stock valued at $331,000 after purchasing an additional 67,100 shares during the last quarter. Natixis increased its position in shares of Yamana Gold by 52.9% during the 2nd quarter. Natixis now owns 124,690 shares of the basic materials company’s stock valued at $361,000 after purchasing an additional 43,139 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Yamana Gold by 220.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 147,005 shares of the basic materials company’s stock valued at $426,000 after purchasing an additional 101,097 shares during the last quarter. 42.19% of the stock is owned by hedge funds and other institutional investors.

Yamana Gold Company Profile

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. It primarily sells precious metals, including gold, silver, and copper. The company was formerly known as Yamana Resources Inc and changed its name to Yamana Gold Inc in July 2003.

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