JPMorgan Chase & Co. lowered its position in Yamana Gold Inc. (NYSE:AUY) (TSE:YRI) by 69.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,193,770 shares of the basic materials company’s stock after selling 2,756,219 shares during the period. JPMorgan Chase & Co.’s holdings in Yamana Gold were worth $3,294,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Comerica Bank increased its stake in shares of Yamana Gold by 10.1% in the fourth quarter. Comerica Bank now owns 113,769 shares of the basic materials company’s stock worth $361,000 after buying an additional 10,437 shares in the last quarter. Norges Bank purchased a new stake in shares of Yamana Gold during the fourth quarter worth about $28,733,000. UBS Asset Management Americas Inc. increased its stake in shares of Yamana Gold by 3.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,349,915 shares of the basic materials company’s stock worth $9,418,000 after buying an additional 103,693 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of Yamana Gold by 3.4% in the first quarter. Capstone Asset Management Co. now owns 90,446 shares of the basic materials company’s stock worth $250,000 after buying an additional 2,950 shares in the last quarter. Finally, Hexavest Inc. increased its stake in shares of Yamana Gold by 1,845.2% in the first quarter. Hexavest Inc. now owns 20,123,386 shares of the basic materials company’s stock worth $55,516,000 after buying an additional 19,088,889 shares in the last quarter. Institutional investors and hedge funds own 41.27% of the company’s stock.
Yamana Gold Inc. (NYSE AUY) traded down 4.67% during mid-day trading on Friday, reaching $2.45. 9,574,759 shares of the company traded hands. The stock has a 50-day moving average of $2.47 and a 200 day moving average of $2.78. Yamana Gold Inc. has a 52-week low of $2.21 and a 52-week high of $5.93. The stock’s market capitalization is $2.32 billion.
Yamana Gold (NYSE:AUY) (TSE:YRI) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.07. The company had revenue of $428.10 million for the quarter, compared to analysts’ expectations of $428.65 million. Yamana Gold had a positive return on equity of 0.42% and a negative net margin of 23.63%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. Equities research analysts expect that Yamana Gold Inc. will post $0.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Thursday, September 28th. Yamana Gold’s dividend payout ratio is currently -4.44%.
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A number of analysts have recently issued reports on AUY shares. Vetr downgraded shares of Yamana Gold from a “strong-buy” rating to a “buy” rating and set a $3.33 price target for the company. in a report on Wednesday, April 12th. TD Securities restated a “buy” rating and set a $5.50 price target on shares of Yamana Gold in a report on Thursday, May 4th. Scotiabank raised their price target on shares of Yamana Gold from $3.50 to $4.00 and gave the stock a “sector perform” rating in a report on Friday, May 5th. ValuEngine downgraded shares of Yamana Gold from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, National Bank Financial reiterated an “outperform market weight” rating on shares of Yamana Gold in a report on Sunday, June 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $3.71.
About Yamana Gold
Yamana Gold Inc is a gold producer with gold production, gold development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. The Company’s segments include Chapada mine in Brazil; El Penon mine in Chile; Canadian Malartic mine in Canada; Gualcamayo mine in Argentina; Minera Florida mine in Chile; Jacobina mine in Brazil; Brio Gold Inc (Brio Gold), and Corporate and other.
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