Yamana Gold (AUY) Stock Tumbling Today Amid Decline in Gold Prices
NEW YORK (TheStreet) -- Shares of Yamana Gold Inc. (AUY) - Get Report are down by 6.23% to $3.38 on heavy volume in late afternoon trading on Tuesday, as some gold and mining related stocks take a hit today due to the price of the precious metal falling to its lowest level since November.
Gold for April delivery is down by 0.56% to $1,160 on the COMEX this afternoon.
A stronger dollar pushed gold prices lower today. The dollar was up on expectations regarding the increase in interest rates which is speculated to be coming later this year.
Dollar dominated commodities tend to fall when the currency rises, as they become more expensive for those that hold other currencies.
Other gold stocks falling today include Goldcorp (GG) , down by 1.29% to $18.31, Kinross Gold (KGC) - Get Report, lower by 4.13% to $2.32, and Alamos Gold (AGI) - Get Report, declining by 3.74% to $5.41 this afternoon.
Insight from TheStreet's Research Team:
Yamana Gold is a part of David Peltier's Stocks Under $10 Portfolio. During the most recent weekly roundup, this is what Dave had to say about the stock:
This gold-and- copper exploration company operates seven mines and several ongoing development projects in Brazil, Argentina and Chile. The stock moved 12% lower this week, along with the underlying price of gold. Management remains focused on maximizing profitability and we believe gold prices should stabilize in the near term.
Want more information like this from David Peltier BEFORE your stock moves?Learn more about Stocks Under $10 now.
Separately, TheStreet Ratings team rates YAMANA GOLD INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate YAMANA GOLD INC (AUY) a SELL. 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. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, weak operating cash flow and generally high debt management risk."
You can view the full analysis from the report here: AUY Ratings Report