NEW YORK (TheStreet) -- Shares of Yamana Gold Inc. (AUY) are lower by 2.95% to $3.95 in late morning trading on Wednesday, as some gold mining stocks retreat today along with the price of the precious metal.
Gold for February delivery is down by 1.10% to $1,187.20 per ounce on the COMEX this morning.
Gold is reversing gains it made yesterday thanks to a weak dollar. Today the currency is up 0.46%, according to the Wall Street Journal dollar index.
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On Tuesday, an analyst speaking with CNBC.com predicted that the jump in gold prices was only temporary, and said gold could see new lows in the new year.
"I think it's going lower," an analyst from Oppenheimer Asset Management told CNBC.com. "I think a lot of these commodities that are priced in dollars are going to be pressured here. It's going to keep going lower, and I would expect new lows in 2015. I think there's a risk you could see $1,000."
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 multiple weaknesses, 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."