Traders Are Bullish Yamana Gold Inc. (USA) (AUY) After The Stock Formed Descending Triangle Chart Pattern

July 17, 2017 - By Marguerite Chambers

The stock of Yamana Gold Inc. (USA) (AUY) formed a descending triangle with $2.67 target or 9.00 % above today’s $2.45 share price. The 9 months triangle pattern indicates low risk for the $2.35B company. If the $2.67 price target is reached, the company will be worth $211.50M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 2.94% or $0.07 during the last trading session, reaching $2.45. About 7.93 million shares traded. Yamana Gold Inc. (USA) (NYSE:AUY) has declined 40.97% since July 17, 2016 and is downtrending. It has underperformed by 57.67% the S&P500.

Yamana Gold Inc. (USA) (NYSE:AUY) Ratings Coverage

Among 12 analysts covering Yamana Gold Inc. (NYSE:AUY), 3 have Buy rating, 1 Sell and 8 Hold. Therefore 25% are positive. Yamana Gold Inc. had 31 analyst reports since July 22, 2015 according to SRatingsIntel. JP Morgan initiated the shares of AUY in report on Friday, December 11 with “Overweight” rating. The firm earned “Sector Perform” rating on Wednesday, November 4 by RBC Capital Markets. The company was downgraded on Wednesday, January 27 by JP Morgan. BMO Capital Markets downgraded the stock to “Market Perform” rating in Monday, December 19 report. The firm earned “Outperform” rating on Monday, December 12 by RBC Capital Markets. The company was downgraded on Monday, October 26 by HSBC. The rating was maintained by BMO Capital Markets on Tuesday, June 20 with “Hold”. HSBC upgraded it to “Buy” rating and $3.4 target in Wednesday, July 22 report. The stock of Yamana Gold Inc. (USA) (NYSE:AUY) has “Sector Perform” rating given on Friday, July 24 by IBC. The firm earned “Outperform” rating on Monday, March 14 by Raymond James.

More important recent Yamana Gold Inc. (USA) (NYSE:AUY) news were published by: Fool.ca which released: “What to Expect From Yamana Gold Inc. for the Rest of 2017” on January 31, 2017, also Fool.ca published article titled: “Yamana Gold Inc.: Worker Strike Over, Stock Starts Year off Strong”, Investorplace.com published: “Ex-Dividend Reminders Include Yamana Gold Inc. (USA) (AUY) and FMC Corp (FMC)” on June 26, 2017. More interesting news about Yamana Gold Inc. (USA) (NYSE:AUY) was released by: Investorplace.com and their article: “Friday’s Vital Data: Facebook Inc (FB), Alibaba Group Holding Ltd (BABA) and …” with publication date: June 16, 2017.

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