Yamana Gold (AUY) Stock Up on Higher Gold Prices - TheStreet

NEW YORK (TheStreet) -- Shares of Yamana Gold (AUY) - Get Report were increasing in late-morning trading on Monday as gold prices rose.

For December delivery, gold was recently advancing 0.21% to $1,344.50 per ounce on the COMEX.

Gold price were gaining on a weaker dollar this morning. The metal is more expensive to foreign investors when the greenback is strong.

Additionally, traders are waiting for the first U.S. presidential debate tonight to start an expected period of market volatility leading up to the vote, the Wall Street Journal reports.

"All eyes today seem to be on the U.S. presidential debate to see how Mrs. Clinton and Mr. Trump do," David Govett, head of precious metals at Marex Spectron, told the newspaper, "If Trump performs well that has to be relatively supportive for gold. People are scared of the unknown, and he's the unknown."

Govett added that he anticipates "exaggerated moves in currencies and gold" as the November 8 election gets closer.

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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