Yamana Gold (NYSE:AUY) Upgraded by Zacks Investment Research to Buy

Yamana Gold (NYSE:AUY) (TSE:YRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage currently has a $4.75 price objective on the basic materials company’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.50% from the stock’s previous close.

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. “

Other equities research analysts also recently issued research reports about the company. TheStreet downgraded Yamana Gold from a “b” rating to a “c+” rating in a report on Friday, August 13th. National Bank of Canada upgraded Yamana Gold from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 4th. Raymond James restated a “market perform” rating and issued a $6.50 price target on shares of Yamana Gold in a report on Tuesday, August 3rd. National Bank Financial lowered their price target on Yamana Gold from C$7.75 to C$7.25 and set an “outperform” rating for the company in a report on Friday. Finally, Berenberg Bank restated a “buy” rating on shares of Yamana Gold in a report on Thursday, July 8th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $7.65.

NYSE AUY traded up $0.07 on Tuesday, reaching $4.26. The company had a trading volume of 712,440 shares, compared to its average volume of 12,170,250. The stock’s 50 day moving average is $4.29 and its 200-day moving average is $4.56. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 23.67 and a beta of 1.52. The company has a quick ratio of 1.45, a current ratio of 1.71 and a debt-to-equity ratio of 0.16. Yamana Gold has a 52 week low of $3.99 and a 52 week high of $6.43.

Yamana Gold (NYSE:AUY) (TSE:YRI) last released its quarterly earnings data on Thursday, July 29th. The basic materials company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $437.40 million during the quarter. Yamana Gold had a return on equity of 6.76% and a net margin of 9.49%. As a group, analysts forecast that Yamana Gold will post 0.31 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Enlightenment Research LLC acquired a new position in shares of Yamana Gold during the second quarter worth about $48,000. Pinnacle Associates Ltd. acquired a new position in shares of Yamana Gold during the first quarter worth about $56,000. Forsta AP Fonden acquired a new position in shares of Yamana Gold during the first quarter worth about $57,000. Smith Salley & Associates acquired a new position in shares of Yamana Gold during the second quarter worth about $63,000. Finally, Scotia Capital Inc. boosted its position in shares of Yamana Gold by 19.2% during the second quarter. Scotia Capital Inc. now owns 14,971 shares of the basic materials company’s stock worth $63,000 after buying an additional 2,414 shares during the period. 46.71% of the stock is owned by institutional investors.

About Yamana Gold

Yamana Gold, Inc engages in the production of gold, silver and copper. It operates through the following segments: El Peñón, Canadian Malartic, Jacobina, Minera Florida, Cerro Moro, Other Mines, and Corporate and Other. The company was founded by Peter Marrone on July 30, 2003 and is headquartered in Toronto, Canada.

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