For December delivery, gold was retreating 0.27% to $1,326.10 per ounce on the COMEX this morning.
The price of the metal reached a four-week low today ahead of a speech by Federal Reserve Chair Janet Yellen tomorrow, Reuters reports. The speech will be closely monitored for clues on monetary policy.
Gold is non-interest paying and struggles to compete with assets that offer a yield when interest rates are hiked.
Additionally, gold prices were weighed down after new orders for U.S. manufactured capital goods increased for a second consecutive month in July, Reuters noted. Another report showed an unanticipated decline in the number of Americans filing for unemployment benefits last week.
"Initial jobless claims were a good sign," Natixis analyst Bernard Dahdah told Reuters. "The chance of a rate hike happening in September is still relatively low, at 32%, but that's an improvement, compared to where it was.
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