The stock of Yamana Gold Inc. (TSE:YRI) gapped down by $0.02 today and has $3.68 target or 7.00% below today’s $3.96 share price. The 7 months technical chart setup indicates high risk for the $3.78B company. The gap down was reported on Nov, 23 by Barchart.com. If the $3.68 price target is reached, the company will be worth $264.60M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 3.55 million shares traded hands. Yamana Gold Inc. (TSE:YRI) has declined 25.45% since April 19, 2016 and is downtrending. It has underperformed by 30.78% 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. $10.50 is the highest target while $4.40 is the lowest. The $6.23 average target is 57.32% above today’s ($3.96) stock price. Yamana Gold Inc. has been the topic of 15 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Tuesday, November 24 by RBC Capital Markets. The rating was downgraded by Scotia Capital on Tuesday, September 1 to “Sector Perform”. The stock of Yamana Gold Inc. (TSE:YRI) earned “Sector Perform” rating by RBC Capital Markets on Wednesday, November 18. The stock of Yamana Gold Inc. (TSE:YRI) has “Sector Perform” rating given on Tuesday, December 22 by RBC Capital Markets. The firm earned “Sector Perform” rating on Tuesday, October 18 by RBC Capital Markets. The stock has “Neutral” rating given by JP Morgan on Wednesday, January 27. The company was maintained on Thursday, January 14 by RBC Capital Markets.
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 $3.78 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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