Yamana Gold (NYSE:AUY) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Yamana Gold (NYSE:AUY) (TSE:YRI) from a hold rating to a buy rating in a research report sent to investors on Monday, Zacks.com reports. Zacks Investment Research currently has $3.75 price objective 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. “

AUY has been the subject of a number of other research reports. Desjardins reissued a hold rating on shares of Yamana Gold in a research note on Monday, April 22nd. CIBC reissued a buy rating and set a $4.00 target price on shares of Yamana Gold in a research note on Monday, July 29th. Raymond James lifted their target price on shares of Yamana Gold from $3.25 to $3.50 and gave the stock a market perform rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their target price on shares of Yamana Gold from $3.00 to $3.50 and gave the stock a sector perform rating in a research note on Wednesday, August 7th. Finally, TD Securities lowered 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 note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $3.36.

Shares of NYSE AUY opened at $3.33 on Monday. Yamana Gold has a twelve month low of $1.78 and a twelve month high of $3.74. The firm has a fifty day simple moving average of $2.99 and a 200 day simple moving average of $2.53. The company has a market capitalization of $3.17 billion, a PE ratio of 27.75 and a beta of 0.96. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 0.44.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.01 dividend. This is an increase from Yamana Gold’s previous quarterly dividend of $0.01. This represents a $0.04 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, September 27th. Yamana Gold’s payout ratio is 16.67%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Yamana Gold by 3.4% in the second quarter. Vanguard Group Inc. now owns 25,441,782 shares of the basic materials company’s stock valued at $64,113,000 after purchasing an additional 827,753 shares in the last quarter. Morgan Stanley increased its stake in Yamana Gold by 17.4% in the second quarter. Morgan Stanley now owns 17,956,739 shares of the basic materials company’s stock valued at $45,251,000 after purchasing an additional 2,659,787 shares in the last quarter. Investec Asset Management LTD increased its stake in Yamana Gold by 37.0% in the first quarter. Investec Asset Management LTD now owns 14,222,448 shares of the basic materials company’s stock valued at $37,048,000 after purchasing an additional 3,841,279 shares in the last quarter. Tocqueville Asset Management L.P. increased its stake in Yamana Gold by 26.0% in the first quarter. Tocqueville Asset Management L.P. now owns 9,436,341 shares of the basic materials company’s stock valued at $24,629,000 after purchasing an additional 1,947,400 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Yamana Gold by 459.8% in the second quarter. JPMorgan Chase & Co. now owns 8,756,217 shares of the basic materials company’s stock valued at $21,628,000 after purchasing an additional 7,192,030 shares in the last quarter. 41.12% of the stock is owned by hedge funds and other 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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