Gold prices are rising as stocks slip, which has spurred safe-haven demand for the precious metal, the Wall Street Journal reports. The S&P500 is down by about 0.59% and the Dow Jones Industrial Average is declining by about 0.72% in mid-afternoon trading today.
"Increased risk aversion among market participants again has helped gold to increase temporarily," Commerzbank said in a note, according to the Journal.
Gold prices have risen by about 16% so far this year amid market volatility.
Gold for April delivery is up by 1.43% to $1,240.10 per ounce on the COMEX this afternoon.
Based in Canada, Yamana operates gold mines in Brazil, Chile, Argentina and Canada.
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. 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