Yamana Gold (NYSE:AUY) Shares Down 9.1%

Shares of Yamana Gold Inc. (NYSE:AUY) (TSE:YRI) were down 9.1% on Wednesday . The company traded as low as $5.34 and last traded at $5.37. Approximately 22,526,047 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 21,676,467 shares. The stock had previously closed at $5.91.

AUY has been the subject of several recent analyst reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $7.25 price objective on shares of Yamana Gold in a research note on Monday. Scotiabank lifted their target price on Yamana Gold from $5.25 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. TD Securities lifted their target price on Yamana Gold from $6.50 to $7.50 and gave the stock a “buy” rating in a research report on Monday, July 27th. Peel Hunt assumed coverage on Yamana Gold in a research report on Monday, August 3rd. They set a “buy” rating for the company. Finally, Raymond James lifted their target price on Yamana Gold from $7.00 to $8.50 and gave the stock a “market perform” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Yamana Gold has an average rating of “Hold” and an average price target of $6.33.

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.20 and a quick ratio of 0.90. The firm has a fifty day moving average of $6.11 and a two-hundred day moving average of $5.09. The stock has a market capitalization of $5.38 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.39 and a beta of 1.74.

Yamana Gold (NYSE:AUY) (TSE:YRI) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. The firm had revenue of $303.40 million during the quarter. Yamana Gold had a return on equity of 4.42% and a net margin of 18.62%. As a group, sell-side analysts forecast that Yamana Gold Inc. will post 0.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be issued a $0.0175 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $0.07 annualized dividend and a dividend yield of 1.24%. Yamana Gold’s payout ratio is currently 46.15%.

Several hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank raised its holdings in shares of Yamana Gold by 4.9% in the second quarter. Comerica Bank now owns 52,572 shares of the basic materials company’s stock valued at $314,000 after acquiring an additional 2,438 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Yamana Gold by 12.6% in the second quarter. Raymond James Trust N.A. now owns 22,666 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 2,540 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Yamana Gold by 4.1% in the first quarter. Russell Investments Group Ltd. now owns 70,312 shares of the basic materials company’s stock worth $193,000 after purchasing an additional 2,758 shares in the last quarter. GWM Advisors LLC raised its holdings in Yamana Gold by 2.5% in the second 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. Finally, United Capital Financial Advisers LLC raised its holdings in Yamana Gold by 47.5% in the first quarter. United Capital Financial Advisers LLC now owns 14,750 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 4,750 shares in the last quarter. Hedge funds and other institutional investors own 48.72% of the company’s stock.

About Yamana Gold (NYSE:AUY)

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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