Yamana Gold (AUY) Stock Down as Gold Prices Slump - TheStreet

NEW YORK (TheStreet) -- Shares of Yamana Gold (AUY) - Get Report were declining in late-morning trading on Tuesday as gold prices dropped.

For December delivery, gold was retreating 1.05% to $1,330 per ounce on the COMEX this morning.

The price of the precious metal was sliding today as the dollar and stocks rose. Gold is more expensive to foreign investors when the greenback is strong.

The dollar and stocks advanced today following the U.S. presidential debate last night, Reuters reports.

"The general sentiment in the market is not supportive for gold, it's deteriorated somewhat. The stronger dollar is also not helping," ABN AMRO commodity strategist Georgette Boele told Reuters.

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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