Yamana Gold Inc. (NYSE:AUY) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Wednesday, The Fly reports.

Yamana Gold (NYSE:AUY) traded up 7.143% on Wednesday, hitting $1.725. 5,807,631 shares of the company’s stock were exchanged. Yamana Gold has a 52-week low of $1.38 and a 52-week high of $4.54. The firm has a 50 day moving average price of $1.81 and a 200-day moving average price of $1.98. The stock’s market cap is $1.63 billion.

Yamana Gold (NYSE:AUY) last announced its quarterly earnings data on Thursday, October 29th. The company reported ($0.02) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.02). During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The business earned $448.90 million during the quarter, compared to the consensus estimate of $472.34 million. The company’s revenue was down 9.2% compared to the same quarter last year. Analysts predict that Yamana Gold will post ($0.09) earnings per share for the current fiscal year.

Other institutional investors have recently made changes to their positions in the company. Lowe FS boosted its position in shares of Yamana Gold by 77.8% in the third quarter. Lowe FS now owns 8,000 shares of the company’s stock worth $14,000 after buying an additional 3,500 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Yamana Gold during the fourth quarter worth about $339,000. Bennicas & Associates Inc. boosted its position in shares of Yamana Gold by 16.6% in the fourth quarter. Bennicas & Associates Inc. now owns 190,525 shares of the company’s stock worth $354,000 after buying an additional 27,100 shares during the last quarter. Hexavest Inc. boosted its position in shares of Yamana Gold by 2.3% in the fourth quarter. Hexavest Inc. now owns 10,088,719 shares of the company’s stock worth $18,665,000 after buying an additional 223,686 shares during the last quarter. Finally, Russell Frank Co boosted its position in shares of Yamana Gold by 32.3% in the fourth quarter. Russell Frank Co now owns 2,584,067 shares of the company’s stock worth $4,858,000 after buying an additional 631,422 shares during the last quarter.

Other equities research analysts have also issued reports about the stock. RBC Capital reiterated a “sector perform” rating on shares of Yamana Gold in a report on Thursday, January 14th. Barclays lowered their price target on shares of Yamana Gold from $4.00 to $3.50 and set an “overweight” rating for the company in a report on Tuesday, October 27th. Zacks Investment Research lowered shares of Yamana Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 6th. Vetr upgraded shares of Yamana Gold from a “buy” rating to a “strong-buy” rating and set a $2.49 price target for the company in a report on Wednesday, October 7th. Finally, Scotiabank upped their price target on shares of Yamana Gold from $2.50 to $2.75 in a report on Wednesday, October 28th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $4.19.

Yamana Gold Inc. is a Canada-based gold producer. The Company is engaged in gold mining and related activities, including exploration, extraction, processing and reclamation. The Company’s production mines include Chapada, Brazil; El Penon, Chile; Canadian Malartic, Canada; Mercedes, Mexico; Gualcamayo, Argentina; Jacobina, Brazil; Minera Florida, Chile, and Other Producing Mines. Its development properties include Cerro Moro, Agua Rica and Suyai in Argentina. The Company has a total gold proven and probable mineral resource of around 18.750 million tons at Alumbrera, 126.95 million tons at Canadian Malartic, 509.15 million tons at Chapada, 1.96 million tons at Cerro Morro, 10.41 million tons at El Penon, 29.16 million tons at Gualcamayo, 22.85 million tons at Jacobina, 8.68 million tons at Jeronimo, 4.01 million tons at Mercedes, 7.89 million tons at Minera Florida, 24.03 million tons at C1-Santa Luz, 2.05 million tons at Fazenda Brasileiro and 10.58 million tons at Pilar.

12 Month Chart for NYSE:AUY

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