#3 - Yamana Gold (NYSE:AUY)
Year-to-Date Gain: 64%
One of the strongest gainers of the year is Yamana Gold (NYSE: AUY). AUY stock is up approximately 10% since reporting strong earnings on July 23. The company more than doubled up expectations for earnings, generating 7 cents per share (the consensus of analysts was 3 cents per share).
Considering that the quarter encompassed the worst of Covid-19 lockdown measures, Yamana posted strong revenue of $303.4 million. During the quarter, the company gave investors an optimistic assessment of its Jacobina and El Penon mines. In terms of the Jacobina mine, the company now believes it has a much longer life (14.5 years) than previously thought. At the El Penon mine, Yamana found evidence of additional gold “veins” that should allow the mine to make more efficient use of its production capacity.
Yamana has a solid balance sheet with $324.8 million of cash on hand. The company has $992.8 million of long-term debt. However, $100 million is a draw from the company’s credit facility which the company says it intends to pay back.
About Yamana Gold
Yamana Gold, Inc engages in the production of gold, silver and copper. It operates through the following segments: El Peñón, Canadian Malartic, Jacobina, Minera Florida, Cerro Moro, Other Mines, and Corporate and Other. The company was founded by Peter Marrone on March 17, 1994 and is headquartered in Toronto, Canada.
- Current Price
- $5.85
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
