NEW YORK (TheStreet) -- Shares of Yamana Gold Inc. (AUY) are getting a boost, up 6.88% to $4.04 in afternoon trading Monday, as gold prices rebound following a 2% loss earlier in the day after Switzerland rejected a referendum to increase its gold reserves, Reuters reports.
Spot gold is up 4.14% to $1,215.70 an ounce this afternoon.
Swiss voters rejected the proposal on Sunday to lift central bank gold holdings to 20% of its forex reserves.
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Canada-based Yamana is a gold producer, engaged in production, development stage properties, exploration properties and land positions in Brazil, Chile, Argentina, Mexico and Colombia.
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."
Highlights from the analysis by TheStreet Ratings Team goes as follows: