NEW YORK (TheStreet) -- Shares of Yamana Gold Inc. (AUY) are higher by 6.63% to $4.18 in late morning trading on Wednesday, as gold prices gain due to a report detailing that the number of employees U.S. employers added last month was less than anticipated, Bloomberg reports.
The jobs data resulted in an increase in demand for gold as a haven, Bloomberg added.
Figures from ADP Research Institute showed that companies added 208,000 employees in November, compared to the 222,000 that was estimated, Bloomberg said.
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Gold for February delivery had risen over $1,200 per ounce on the COMEX in New York on Wednesday morning.
Other gold mining and producing stocks on the rise today include Goldcorp. (GG) , up by 2.20% to $20.87, Kinross Gold Corp. (KGC) , higher by 6.44% to $3.14, and NovaGold Resources Inc. (NG) , gaining by 4.73% to $2.88 this morning.
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."