JPMorgan Chase & Co. decreased its stake in Yamana Gold Inc. (NYSE:AUY) (TSE:YRI) by 69.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. acquired a new position in Yamana Gold during the first quarter valued at approximately $111,000. Korea Investment CORP acquired a new position in Yamana Gold during the first quarter valued at approximately $161,000. World Asset Management Inc increased its position in Yamana Gold by 2.2% in the first quarter. World Asset Management Inc now owns 59,847 shares of the basic materials company’s stock valued at $165,000 after buying an additional 1,308 shares during the period. Capstone Asset Management Co. increased its position in 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 valued at $250,000 after buying an additional 2,950 shares during the period. Finally, Comerica Bank increased its position in Yamana Gold by 10.1% in the fourth quarter. Comerica Bank now owns 113,769 shares of the basic materials company’s stock valued at $361,000 after buying an additional 10,437 shares during the period. 42.81% of the stock is currently owned by hedge funds and other institutional investors.
Yamana Gold Inc. (NYSE AUY) opened at 2.36 on Wednesday. The company has a 50 day moving average of $2.63 and a 200 day moving average of $2.85. Yamana Gold Inc. has a 52 week low of $2.21 and a 52 week high of $5.99. The stock’s market capitalization is $2.24 billion.
Yamana Gold (NYSE:AUY) (TSE:YRI) last released its quarterly earnings results on Wednesday, May 3rd. The basic materials company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Yamana Gold had a negative net margin of 19.31% and a positive return on equity of 0.44%. The company had revenue of $403.50 million for the quarter, compared to analysts’ expectations of $423.20 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts expect that Yamana Gold Inc. will post $0.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a dividend of $0.005 per share. The ex-dividend date is Wednesday, June 28th. This represents a $0.02 annualized dividend and a yield of 0.85%. Yamana Gold’s payout ratio is presently -5.41%.
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Several research analysts have commented on the stock. National Bank Financial reissued an “outperform market weight” rating on shares of Yamana Gold in a research note on Sunday, June 4th. Zacks Investment Research downgraded shares of Yamana Gold from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 6th. BidaskClub downgraded shares of Yamana Gold from a “hold” rating to a “sell” rating in a research note on Friday, July 7th. Raymond James Financial, Inc. reissued a “market perform” rating and set a $3.25 price target on shares of Yamana Gold in a research note on Thursday, June 15th. Finally, BMO Capital Markets reissued a “hold” rating and set a $3.25 price target on shares of Yamana Gold in a research note on Tuesday, June 20th. Four analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.04.
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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