The stock of Yamana Gold Inc. (NYSE:AUY) is now priced at $5.92 and the shares are -0.06 points down or -1% lower compared to its previous closing price of $5.98. The stock had 12.003 million contracts set over the past session. AUY shares’ daily volume is compared to its average trading volume at 19.008 million shares. However, it has a float of 948 million and although its performance was -6.18% over the week, it’s one to watch. Analysts have given the AUY stock a yearly average price target of $3.92 per share. It means the stock’s downside potential is -33.78% with the AUY share price recently placing at $5.85 to $6.03. However, some brokerage firms have priced the stock below the average, including one that has called $4.5.
The shorts are running away from the Yamana Gold Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the AUY shares have declined. Short interest in the stock represents just 1.04% of its float, but the volume has dropped by 0.
In the last trading session, Yamana Gold Inc. (NYSE:AUY) dropped by -$0.39 over the week and lost -$0.69 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.02. The stock recorded its established 52-week high on 08/05/20.
Since 03/16/20, the stock has traded to a low of $2.23 at 165.47%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Yamana Gold Inc.’s two-week RSI is 47.06. This suggests that the stock is neutral at the moment and that AUY shares’ price movement remains stable. The stochastic readings are equally revealing at 19.47% meaning the AUY share price is currently in overbought territory.
The technical chart shows that the AUY stock will likely settle at between $6.02 and $6.11 per share. However, if the stock dips below $5.84, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.75.
Currently, the stock is trading in the red of MACD, with a reading of -0.02. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Scotiabank raised their recommendation for AUY from Sector Perform to Sector Outperform in April 16 review. RBC Capital Mkts analysts see the stock as a Sector Perform in a flash note released to investors on December 05 resuming covering the stock. Credit Suisse analysts see the stock as Outperform when the analysts resumed the share price coverage on October 14.
The average rating for the AUY equity is 2.46 and is currently gathering a bullish momentum. Of 13 analysts tracking Yamana Gold Inc. polled by Reuters, 6 rated AUY as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the AUY stock price is 31.16X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 21.1 below the group’s average of 23.1. Yamana Gold Inc. has its P/E ratio at 1.3, which means that the stock is currently trading at a discount relative to the 2.7 industry average.