Yamana Gold (AUY) Stock Slips Despite Higher Gold
NEW YORK (TheStreet) -- Yamana Gold (AUY) - Get Report shares are down 4.44% to $4.73 on Monday even though gold futures gained on the back of a weaker dollar.
The ICE U.S. dollar index was down 0.4% recently to its lowest level in around 11 months, MarketWatch reports.
This strengthened the appeal for dollar-denominated commodities like gold and silver.
Gold for July delivery is rising 0.53% to $1,297.40 per ounce on the COMEX this afternoon.
Overall, precious-metals markets on Monday were "very thin with China and London closed for a holiday," stated Adrian Ash, head of research at BullionVault.
Toronto-based Yamana Gold, which engages in the exploration and development of precious metal properties in Brazil, Argentina, Chile, Mexico, and Canada, is set to release its 2016 first quarter earnings on Wednesday after the markets close.
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Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income and 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.
