Yamana Gold (AUY) Stock Slides on Lower Gold Prices
NEW YORK (TheStreet) -- Shares of Yamana Gold (AUY) - Get Report are falling by 4.76% to $4.40 in mid-morning trading on Tuesday as gold prices decline.
For June delivery, gold is slumping by 1.32% to $1,235 per ounce on the COMEX this morning.
The metal continues to be pressured today by expectations that the Federal Reserve will hike interest rates soon, Reuters reports.
Gold is non-interest paying and has difficulty competing with assets that bear a yield when rates are raised.
The prospect of an early rate hike and a strengthening dollar have pushed gold down by 3.6% so far this month.
The yellow metal is set for its largest monthly drop since November, Reuters said.
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 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 by the team.
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 articles's author.
You can view the full analysis from the report here: AUY
