Yamana Gold (AUY) Stock Up, Gold Prices Turn Positive

Yamana Gold (AUY) stock is advancing on Monday morning as gold prices trim some of today’s earlier losses.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of Yamana Gold (AUY) - Get Report are increasing 0.6% to $5.89 late Monday morning as gold prices clip some of today's earlier losses.

For August delivery, gold is up 0.32% to $1,331.60 per ounce on the COMEX this morning.

Earlier today, the price of the precious metal declined as risk appetite rose after a failed coup attempt in Turkey late Friday, Reuters reports.

"Gold always shows to be a safe harbour during political instability or when wider markets are in turmoil," ActivTrades chief analyst Carlo Alberto De Case told Reuters.

"After the metal broke below support at $1,340 an ounce, a push lower is possible, as the situation in Turkey 'stabilised' and there are no new headlines on the Brexit saga," he added.

The yellow metal advanced $100 in the two weeks after Britain's decision to leave the European Union as concerned investors looked to safe-haven assets such as precious metals.

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 Team has a "Sell" rating with a score of D+ on the stock.

This is driven by a number of negative factors, which 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 covered.

Among the areas the team believes are negative, one of the most important has been an overall disappointing return on equity.

Recently, 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 article's author.

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

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