Yamana Gold (AUY) Stock Weighed Down by Slumping Gold
NEW YORK (TheStreet) -- Yamana Gold (AUY) - Get Report shares are under pressure, down by 8.51% to $4.30 on Monday, as gold futures fell on the stronger dollar.
The dollar was up by 0.2% today while the yen dropped after Japan's finance minister said Tokyo was ready to intervene in the currency market if needed, Reuters reports.
Gold for July delivery is tumbling by 2.12% to $1,266.60 per ounce on the COMEX.
"Gold prices are solidly lower in early U.S. trading Monday, pressured by some profit-taking from recent gains and by better risk appetite in the general marketplace," Kitco Metals stated, according to Reuters.
The precious metal was changing direction from Friday's gains following the U.S. payroll data, which showed that the economy created 160,000 jobs in April, lower than economists' forecasts of 202,000 jobs. This is the fewest added jobs in seven months.
Yamana Gold is a Toronto-based gold mining company that explores for, extracts, and processes the precious metal.
(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.
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 articles's author.
You can view the full analysis from the report here: AUY
