Yamana Gold (AUY) Stock Up as Gold Prices Gain

NEW YORK (TheStreet) -- Shares of Yamana Gold (AUY) are higher by 2.06% to $3.96 in late afternoon trading on Tuesday, as some mining stocks rise along with the price of gold, which is getting a boost today due to the decline in the dollar and the pullback in global debt markets.

Gold for June delivery is up by 0.84% to $1,192.90 on the COMEX this afternoon. The dollar is down by 0.53%, according to the Wall Street Journal dollar index.

Prices of government bonds in Japan, parts of Europe, and the U.S. moved lower as investors that jumped into the debt markets in recent weeks were forces to get out as prices declined, the Journal said.

"The trade got crowded because deflation isn't as bad as people think... If the bonds (yields) are going to rally off the thought that there's not going to be bad deflation, gold will rally off that news as well," Ira Epstein, a broker with the Linn Group told the Journal.

Other mining stocks rising today include Alamos Gold (AGI) higher by 3.11% to $7.29, B2Gold (BTG) up by 3.77% to $1.65, and Goldcorp (GG) gaining by 2.38% to $18.94 this afternoon.

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 few notable 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, weak operating cash flow and generally disappointing historical performance in the stock itself."

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