This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Prospecting for Gold at Yamana

Editor's note: This Stocks Under $10 alert was originally sent to subscribers Nov. 13 at 3:30 p.m. EST. It's being republished as a bonus for and readers. The author, Larsen Kusick, is part of Stocks Under $10 Investment Team.

When we spot a great opportunity, we will occasionally review or even add a name that trades slightly above $10 to the Stocks Under $10 model portfolio. Yamana Gold (AUY - Get Report), currently trading at $11.28, looks like a strong prospect for the model portfolio on a pullback. So let's take a detailed look at this Toronto-based South American mine operator.

With its aggressive plan for production growth, Yamana is particularly interesting because of its combination of untapped in-ground assets and un-hedged position in gold. The company has six operating mines in Brazil and another in Honduras, along with a number of development-stage properties and land positions, mainly in Brazil.

The company's principal product is gold, but it also mines copper. Yamana's largest opportunity comes from its recently completed Chapada copper-gold mine, which is scheduled to begin production this month.

In terms of gold production, Yamana's numbers are astounding. During the first nine months of 2006, Yamana produced 246,829 ounces of gold, including 88,781 during its most recent quarter (ended Sept. 30). Management expects to achieve an annual production rate of 600,000 ounces of gold by the end of 2007, and reach an annual rate of 1 million ounces by late 2008.

These aggressive targets indicate the large amount of gold that Yamana has in its mines and land assets, as well as the lofty expectations of the company.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ABX $19.37 0.00%
AUY $4.95 0.00%
GFI $4.70 0.00%
GG $20.15 0.00%
NEM $34.97 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs