Safe-haven investing caused gold's price to climb on Tuesday after China's ShanghaiComposite fell more than 6%, the Wall Street Journal reports.
Additionally, analysts say the precious metal could be poised for a rebound in 2016 due to concerns about economic growth in China, according to Reuters.
"Gold is in demand as a safe haven in the current market environment and the high risk aversion among market participants clearly points to higher demand," Daniel Briesemann, a commodities analyst at Commerzbank, told the Journal.
Gold for February delivery is up 0.81% to $1,114.30 per ounce on the COMEX this morning.
Based in Toronto, Yamana is a gold mining company that operates in Brazil, Chile, Canada, and Mexico.
Separately, 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 articles's author.
TheStreet Ratings rates this stock as a "sell" with a ratings score of D. This is driven by some concerns, 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 weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: AUY