NEW YORK (TheStreet) -- Shares of Yamana Gold (AUY) - Get Report are increasing by 1.04% to $2.92 on Tuesday morning, as gold prices rise ahead of Federal Reserve chair Janet Yellen's policy speech today.
The speech will be closely monitored for insights on U.S. monetary policy, Reuters reports.
Non-interest paying gold has difficulty competing with assets that offer a yield when interest rates are hiked.
Last week's comments from Fed officials indicated the possibility of at least two rate raises this year. Some officials said an increase could come as soon as next month, Reuters noted.
"We're looking at least one and more likely two (rate rises), which is going to put pressure on gold," ING's head of commodity strategy Hamza Khan told Reuters.
For June delivery, gold is up by 0.67% to $1,230.10 per ounce on the COMEX this morning.
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.
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Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
This is driven by multiple weaknesses, 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.
The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself.
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.
You can view the full analysis from the report here: AUY