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« The Federal Reserve: The New Robbers! | Main | Finding Elusive Gold in This Market »

Yamana Gold Incorporated: On the come back trail!

AUY Chart 26 Jan 09

Chart courtesy of

Note the MACD crossover signalling a trend reversal for the stock price in November 2008. Also note that the MACD is setting up again for another possible crossover, although from a higher level, which suggests that there is not that much room for further progress. However, should gold continue to rally then Yamana Gold should do well. It is also good to see that it is consolidating above the 50dma.

From Yamana’s 2009/2010 OPERATING OUTLOOK we can glean the following:

Gold production is expected to be in the range of 1.3 million to 1.4 million gold equivalent ounces (GEO) in 2009. Yamana had previously guided in October 2008 a specific production expectation with a +/-7% variance and this range is consistent with this past guidance. Production is projected to increase to approximately 1.4 million to 1.5 million GEO in 2010 from mines currently in production.

Also worthy of note for 2009, Yamana has approximately 50 million pounds of copper sold forward at an average of approximately $3.00/lb. We are not great believers in hedging production, however Yamana have made a great call in this instance, which shows that the management team are on the ball.

Yamana Gold has a market capitalisation of $5.66 billion, a P/E ratio of 17.72, with 733.49 shares outstanding and closed yesterday at $7.72.

Yamana Gold Incorporated trades as AUY on the New York Stock Exchange and as YRI on Toronto Stock Exchange and as YAU on the London Stock Exchange.

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