The stock of Yamana Gold Inc. (TSE:YRI) gapped up by $0.02 today and has $8.10 target or 66.00% above today’s $4.88 share price. The 6 months technical chart setup indicates low risk for the $4.84B company. The gap was reported on Nov, 1 by Barchart.com. If the $8.10 price target is reached, the company will be worth $3.19B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 5.52M shares traded hands. Yamana Gold Inc. (TSE:YRI) has risen 24.74% since March 28, 2016 and is uptrending. It has outperformed by 21.73% the S&P500.
Yamana Gold Inc. (TSE:YRI) Ratings Coverage
Out of 6 analysts covering Yamana Gold Inc. (TSE:YRI), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. Yamana Gold Inc. has been the topic of 15 analyst reports since August 4, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the stock with “Sector Perform” rating in Thursday, January 14 report. The firm earned “Sector Perform” rating on Tuesday, November 24 by RBC Capital Markets. The firm earned “Sector Perform” rating on Tuesday, December 22 by RBC Capital Markets. The firm earned “Sector Perform” rating on Tuesday, October 18 by RBC Capital Markets. The firm has “Sector Perform” rating by RBC Capital Markets given on Wednesday, November 18. Scotia Capital downgraded Yamana Gold Inc. (TSE:YRI) on Tuesday, September 1 to “Sector Perform” rating. The rating was downgraded by JP Morgan to “Neutral” on Wednesday, January 27.
More recent Yamana Gold Inc. (TSE:YRI) news were published by: Fool.ca which released: “Yamana Gold Inc. Tries the IPO Route for Brazilian Asset Exit” on October 18, 2016. Also Prnewswire.com published the news titled: “Gold Stocks Under Review — Yamana Gold, Kinross Gold, Barrick Gold, and Goldcorp” on October 28, 2016. Seekingalpha.com‘s news article titled: “Yamana Gold: All Set For A Turnaround” with publication date: October 21, 2016 was also an interesting one.
Yamana Gold Inc. is a gold producer with significant gold production, gold development stage properties, exploration properties, and land positions throughout the Americas, including Brazil, Argentina, Chile, Mexico and Canada. The company has a market cap of $4.84 billion. The Company’s divisions include Chapada mine in Brazil, El Penon mine in Chile, Canadian Malartic mine in Canada (50% interest), Gualcamayo mine in Argentina, Mercedes mine in Mexico, Brio Gold Inc., and Corporate and other. It currently has negative earnings. The Company’s Corporate and other segment includes Minera Florida mine in Chile and Alumbrera mine in Argentina.
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