Yamana Gold (AUY) Gains Despite Not Meeting Output Target

NEW YORK (TheStreet) -- Yamana Gold (AUY) was gaining 6% to $9.72 Monday despite announcing that it missed its 2013 output target.

The gold mining company announced it produced about 1.2 million gold equivalent ounces in 2013. In July, Yamana said it expected to produce between 1.32 million and 1.37 million gold equivalent ounces by the end of the year.

Yamana now expects to produce 1.4 million gold equivalent ounces in 2014, which is at the low end of its previous forecast. The company previously said it expects to produce between 1.4 million and 1.5 million gold equivalent ounces in 2014.

The gold mining company will announce its fourth-quarter results on Feb. 18 after the the close of the market.

Must read: Stocks Under $10 Weekly Summary

TheStreet Ratings team rates YAMANA GOLD INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate YAMANA GOLD INC (AUY) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income."

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