Yamana Gold Inc. (NYSE:AUY – Get Rating) (TSE:YRI) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 21,480,000 shares, a drop of 12.1% from the August 15th total of 24,440,000 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily volume of 16,880,000 shares, the short-interest ratio is currently 1.3 days.
Hedge Funds Weigh In On Yamana Gold
Several large investors have recently made changes to their positions in AUY. Federated Hermes Inc. acquired a new position in shares of Yamana Gold in the 2nd quarter valued at $62,655,000. Boston Partners purchased a new stake in Yamana Gold in the 1st quarter worth $62,726,000. Millennium Management LLC increased its holdings in Yamana Gold by 243.3% in the 4th quarter. Millennium Management LLC now owns 12,164,160 shares of the basic materials company’s stock worth $51,271,000 after acquiring an additional 8,621,093 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Yamana Gold by 710.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,674,294 shares of the basic materials company’s stock worth $44,985,000 after acquiring an additional 8,480,162 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Yamana Gold by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 109,403,695 shares of the basic materials company’s stock worth $610,474,000 after acquiring an additional 7,658,865 shares in the last quarter. 55.45% of the stock is currently owned by institutional investors and hedge funds.
Yamana Gold Stock Performance
AUY opened at $4.22 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.00 and a quick ratio of 1.55. The firm has a fifty day moving average price of $4.71 and a 200 day moving average price of $5.15. Yamana Gold has a 1 year low of $3.70 and a 1 year high of $6.40. The stock has a market cap of $4.06 billion, a P/E ratio of 15.63 and a beta of 1.32.
Yamana Gold Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, September 29th. Yamana Gold’s dividend payout ratio is currently 44.45%.
Analyst Ratings Changes
A number of analysts recently commented on AUY shares. National Bank Financial cut shares of Yamana Gold to an “outperform” rating in a research note on Wednesday, June 1st. StockNews.com cut shares of Yamana Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Finally, Canaccord Genuity Group cut shares of Yamana Gold from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$10.50 to C$7.50 in a research note on Thursday, June 2nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Yamana Gold has an average rating of “Moderate Buy” and an average target price of $68.50.
About Yamana Gold
Yamana Gold Inc, together with its subsidiaries, operates as a precious metal producer. It has gold and silver production, development-stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile, and Argentina. The company was formerly known as Yamana Resources Inc and changed its name to Yamana Gold Inc in August 2003.
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Read More: Yamana Gold Inc. (NYSE:AUY) Short Interest Update