Bank of America Downgrades Yamana Gold (USA) to Underperform

Brokerage firm Bank of America Downgrades its rating on Yamana Gold (USA)(AUY). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at Bank of America was issued on Feb 22, 2017 in a research report to their Investors and Clients.

In a different note, On Dec 19, 2016, BMO Capital said it Downgrades its rating on Yamana Gold (USA). The shares have been rated ‘Market Perform’ by the firm. On Dec 12, 2016, RBC Capital said it Upgrades its rating on Yamana Gold (USA). The shares have been rated ‘Outperform’ by the firm.

Yamana Gold (USA) (AUY) shares turned negative on Wednesdays trading session with the shares closing down -0.12 points or -4.04% at a volume of 1,81,80,569. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $2.97. The peak price level was also seen at $2.97 while the days lowest was $2.79. Finally the shares closed at $2.85. The 52-week high of the shares is $5.99 while the 52-week low is $2.46. According to the latest information available, the market cap of the company is $2,701 M.

Yamana Gold (USA)(AUY) last announced its earnings results on Oct 27, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $464.30M. Analysts had an estimated revenue of $506.54M. Earnings per share were $0.02. The reported EPS was above estimates by $0.02 or NaN%. Analysts had estimated an EPS of $0.04.

Yamana Gold Inc. is a Canada-based gold producer. The Company is engaged in gold mining and related activities including exploration extraction processing and reclamation. The Company’s production mines include Chapada Brazil; El Penon Chile; Canadian Malartic Canada; Mercedes Mexico; Gualcamayo Argentina; Jacobina Brazil; Minera Florida Chile and Other Producing Mines. Its development properties include Cerro Moro Agua Rica and Suyai in Argentina. The Company has a total gold proven and probable mineral resource of around 18.750 million tons at Alumbrera 126.95 million tons at Canadian Malartic 509.15 million tons at Chapada 1.96 million tons at Cerro Morro 10.41 million tons at El Penon 29.16 million tons at Gualcamayo 22.85 million tons at Jacobina 8.68 million tons at Jeronimo 4.01 million tons at Mercedes 7.89 million tons at Minera Florida 24.03 million tons at C1-Santa Luz 2.05 million tons at Fazenda Brasileiro and 10.58 million tons at Pilar.

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