Zacks Investment Research upgraded shares of Yamana Gold (NYSE:AUY) (TSE:YRI) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $3.75 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. “
A number of other research analysts have also weighed in on the stock. Raymond James raised 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. ValuEngine raised shares of Yamana Gold from a hold rating to a buy rating in a research note on Monday, September 16th. CIBC set a $4.00 target price on shares of Yamana Gold and gave the stock a buy rating in a research note on Friday, September 6th. National Bank Financial raised shares of Yamana Gold from a sector perform rating to an outperform rating and set a $2.53 target price on the stock in a research note on Friday, June 28th. Finally, Royal Bank of Canada raised 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $3.36.
Yamana Gold (NYSE:AUY) (TSE:YRI) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. The firm had revenue of $463.50 million for the quarter, compared to analyst estimates of $448.19 million. Yamana Gold had a negative net margin of 7.49% and a positive return on equity of 2.32%. Yamana Gold’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.02 EPS. On average, sell-side analysts predict that Yamana Gold will post 0.06 EPS for the current fiscal year.
The firm also recently announced 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 represents a $0.04 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Yamana Gold’s previous quarterly dividend of $0.01. The ex-dividend date is Friday, September 27th. Yamana Gold’s dividend payout ratio (DPR) is 16.67%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GFS Advisors LLC purchased a new stake in shares of Yamana Gold during the 2nd quarter valued at approximately $25,000. Cetera Advisor Networks LLC purchased a new stake in shares of Yamana Gold during the 1st quarter valued at approximately $35,000. Man Group plc purchased a new stake in shares of Yamana Gold during the 2nd quarter valued at approximately $39,000. AE Wealth Management LLC purchased a new stake in shares of Yamana Gold during the 2nd quarter valued at approximately $55,000. Finally, United Capital Financial Advisers LLC raised its position in shares of Yamana Gold by 102.4% during the 2nd quarter. United Capital Financial Advisers LLC now owns 33,277 shares of the basic materials company’s stock valued at $84,000 after buying an additional 16,838 shares during the period. 41.77% of the stock is currently owned by institutional investors and hedge funds.
About Yamana Gold
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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