Yamana Gold Inc. (AUY) Trading Down 6.5%

Yamana Gold Inc. (NYSE:AUY) (TSE:YRI) fell 6.5% on Monday . The stock traded as low as $2.86 and last traded at $2.88. 13,043,420 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 12,309,100 shares. The stock had previously closed at $3.08.

Several research firms recently weighed in on AUY. National Bank Financial reiterated an “outperform market weight” rating on shares of Yamana Gold in a research note on Sunday, June 4th. BidaskClub lowered shares of Yamana Gold from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Scotiabank increased their price target on shares of Yamana Gold from $3.50 to $4.00 and gave the stock a “sector perform” rating in a research report on Monday, May 15th. Royal Bank Of Canada set a $4.00 price target on shares of Yamana Gold and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $3.25 price target on shares of Yamana Gold in a research report on Tuesday, June 20th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $3.71.

The firm has a 50 day moving average of $2.72 and a 200-day moving average of $2.68. The stock’s market capitalization is $2.73 billion.

Yamana Gold (NYSE:AUY) (TSE:YRI) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.07. The firm had revenue of $428.10 million during the quarter, compared to the consensus estimate of $428.65 million. Yamana Gold had a positive return on equity of 0.42% and a negative net margin of 23.63%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 EPS. On average, equities research analysts forecast that Yamana Gold Inc. will post $0.02 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, September 28th. Yamana Gold’s payout ratio is -4.44%.

A number of institutional investors have recently made changes to their positions in the stock. Afam Capital Inc. boosted its stake in Yamana Gold by 0.5% in the 2nd quarter. Afam Capital Inc. now owns 727,371 shares of the basic materials company’s stock worth $1,768,000 after purchasing an additional 3,533 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Yamana Gold by 16.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 46,795 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 6,616 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in Yamana Gold by 372.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 250,188 shares of the basic materials company’s stock worth $605,000 after purchasing an additional 197,276 shares in the last quarter. BlueCrest Capital Management Ltd boosted its stake in Yamana Gold by 5.0% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 325,905 shares of the basic materials company’s stock worth $792,000 after purchasing an additional 15,494 shares in the last quarter. Finally, Fore Research & Management LP bought a new position in Yamana Gold in the 2nd quarter worth about $243,000. Institutional investors own 42.44% of the company’s stock.

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About Yamana Gold

Yamana Gold Inc is a gold producer with gold production, gold development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. The Company’s segments include Chapada mine in Brazil; El Penon mine in Chile; Canadian Malartic mine in Canada; Gualcamayo mine in Argentina; Minera Florida mine in Chile; Jacobina mine in Brazil; Brio Gold Inc (Brio Gold), and Corporate and other.

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