Yamana Gold (NYSE:AUY) Rating Increased 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 note published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $7.25 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. “

Several other equities research analysts also recently issued reports on the stock. National Bank Financial downgraded shares of Yamana Gold from an outperform rating to a sector perform rating in a research note on Friday, May 22nd. TD Securities lifted their price target on shares of Yamana Gold from $6.50 to $7.50 and gave the stock a buy rating in a research note on Monday, July 27th. Barclays lifted their price target on shares of Yamana Gold from $4.00 to $4.50 and gave the stock an underweight rating in a research note on Monday, July 20th. Raymond James lifted their price target on shares of Yamana Gold from $6.50 to $7.00 and gave the stock a market perform rating in a research note on Monday, July 27th. Finally, Scotiabank lifted their price target on shares of Yamana Gold from $5.25 to $5.50 and gave the stock a sector perform rating in a research note on Monday, July 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $5.65.

Shares of Yamana Gold stock opened at $6.51 on Wednesday. The company’s fifty day simple moving average is $5.47 and its 200-day simple moving average is $4.51. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 2.84 and a beta of 1.74. The company has a current ratio of 1.20, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. Yamana Gold has a 1 year low of $2.23 and a 1 year high of $6.88.

Yamana Gold (NYSE:AUY) (TSE:YRI) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.04. The business had revenue of $303.40 million for the quarter. Yamana Gold had a net margin of 18.62% and a return on equity of 4.42%. As a group, research analysts forecast that Yamana Gold will post 0.22 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.0175 per share. The ex-dividend date is Tuesday, September 29th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 1.08%. Yamana Gold’s dividend payout ratio (DPR) is 46.15%.

Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank grew its position in Yamana Gold by 4.9% during the second quarter. Comerica Bank now owns 52,572 shares of the basic materials company’s stock worth $314,000 after buying an additional 2,438 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Yamana Gold in the 2nd quarter worth about $123,000. GWM Advisors LLC boosted its holdings in shares of Yamana Gold by 2.5% in the 2nd quarter. GWM Advisors LLC now owns 190,424 shares of the basic materials company’s stock worth $1,040,000 after purchasing an additional 4,600 shares in the last quarter. Costello Asset Management INC purchased a new position in shares of Yamana Gold in the 2nd quarter worth about $82,000. Finally, DAVENPORT & Co LLC boosted its holdings in shares of Yamana Gold by 22.2% in the 2nd quarter. DAVENPORT & Co LLC now owns 1,194,330 shares of the basic materials company’s stock worth $6,521,000 after purchasing an additional 216,793 shares in the last quarter. Institutional investors own 48.33% of the company’s stock.

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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