Gold prices surged $20 to cross the $1,200 per troy ounce mark for the first time in more than two weeks on Tuesday as the U.S. dollar weakened and drove investors toward the precious metal.
Yamana Gold is also considering putting some of its Brazilian mines into a separate company that it could spin off to shareholders, CEO Peter Marrone told the Wall Street Journal on Friday. The Toronto-based company is trying to find ways to offset falling gold prices, which have plunged approximately 35% from their highs in 2011.
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Separately, TheStreet Ratings team rates YAMANA GOLD INC as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate YAMANA GOLD INC (AUY) a SELL. This is driven by a number of negative factors, which we believe 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 we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."