Yamana Gold (AUY) Stock Dips with Gold Prices

Yamana Gold (AUY) stock is lower on Friday afternoon as gold prices end a six-week winning streak.
By Natalie Walters ,

NEW YORK (TheStreet) -- Shares of Yamana Gold (AUY) - Get Report are down by 0.51% to $5.85 on Friday afternoon, as gold prices are on track for their first loss in seven weeks. 

The six-week winning streak of the precious metal was halted as risk concerns were lifted, Reuters reports. 

Gold prices have fallen 2.5% so far this week, putting it on track for its first weekly decline since May 27. 

"The precious metals are taking a breather. They have done really well this year and went up too quickly. So retrenchment is only right to happen. Also, stock markets are doing well at this point of time," Brian Lan, managing director at GoldSilver Central, told Reuters. 

Gold for August delivery is down by 0.29% to $1328.30 per ounce on the COMEX this afternoon.

Toronto-based Yamana is a gold and copper exploration company that operates seven mines and oversees several ongoing development projects in Brazil, Argentina and Chile.

(Yamana is held in David Peltier's Stocks Under $10 portfolio. See all of his holdings with a free trial.)

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate YAMANA GOLD INC as a Sell with a ratings score of D+. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been an overall disappointing return on equity.

You can view the full analysis from the report here: AUY

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