What would suck is if it goes down to $0.77 and then reverses and trades at $4.00 within the next 18 months.
That price is absurdly cheap, but I'm not saying it won't get to $0.75. I'll keep an eye on it and if it looks like another plunge is coming I'll change my bid again. I've already changed it several times.
I had an order in at $1.51 but I cancelled it yesterday and put one in for $1.37 instead. This sucker drops so fast.
I am trying to buy some more of this stock too. But my price is low at $1.39. But the way this stock drops like a rock we could get there in just a few days. If the GDX drops 3%, Yamana drops 5.5%. That just seems to be the way it is.
There's no indication that this company can't service its current debt obligations. Have you even looked at the balance sheet?
Stay calm and buy more Yamana gold stock at $1.50 per share. Then you won't be so angry at Marrone when the stock goes back up to $15. And by the way, I've seen Marrone on TV defending Yamana several times in the past. He always makes a good case, but emotionally driven herds of investors don't care. They will run the price down to ridiculous levels.
LOL. The time to sell was years ago when the price was in the $19 to 18$ range. Your timing is slightly off.
Guys, I get it. You are getting crushed right now in the gold mining sector. Don't expect it to turn around immediately. But the miners are valued lower right now, when compared to the price of gold, than at any point in financial history. Having said that, it is better to buy at low valuations. So if you have a long term outlook, now looks like a decent time to get into some of these miners. Yamana is very cheap compared to other miners, if you don't expect the company to go bankrupt. The price of Yamana stock compared to the value of the assets it holds is the lowest in the industry. They also have some of the lowest production costs. They also, contrary to what is being reported, have a modest long-term debt load compared to its shareholder equity. Compare Yamana's financials to Agnico-Eagle and tell me which company is overvalued and which one is undervalued. The only advantage to AEM is most of their mines are in Canada which is considered a very stable jurisdiction. But that fact doesn't justify a multi-billion dollar market cap premium in my view. Last quarter Yamana was even able to generate positive free cash flow, which is saying something in this environment. They also pay the highest yielding dividend in the sector at the moment. So unless you think Yamana is going belly up sometime within the next year or so, it looks like a bargain.