Here's Why Yamana Gold (AUY) Stock is Increasing Today
NEW YORK (TheStreet) -- Yamana Gold (AUY) - Get Report shares are jumping 2.11% to $4.85 on Monday afternoon as gold prices gained on the weakening greenback.
The precious metal usually benefits from a weaker dollar since the dollar-priced metal becomes cheaper for foreign investors.
The Dollar Index recently declined to 86.88, the Wall Street Journal reports.
Additionally, the Federal Reserve has hinted that it was in no rush to raise short-term interest rates this year, also supporting gold futures.
Gold for June delivery is gaining 0.13% to $1,274.40 per ounce on the COMEX this afternoon.
Despite, gold's bullish movement this afternoon, the precious metal is trimming earlier gains as U.S. equities turned higher.
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Separately, Yamana Gold has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's feeble earnings per share growth, deteriorating net income and disappointing return on equity.
You can view the full analysis from the report here: AUY
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.
