Adding to Yamana Gold on Weakness
Shares of Yamana Gold (AUY) are trading 7% lower on thesession and recently changed hands at around $1.80. Afteryou receive this Alert, we will buy 350 shares of the company.
This purchase improves our average cost-basis and gives us atotal of 2,350 shares, or 2.49% of the overall portfolio.At current levels, the stock is down 27% from where we soldit just four weeks ago. While gold prices are downfractionally on the prospect of a stronger U.S. dollar andhigher interest rates, we believe the mining firms arereaching oversold levels.
Yamana has some of the lowest operating costs in the market,and we believe that management will continue to growproduction in the coming quarters. We maintain our Two rating
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