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TORONTO, Sept. 09, 2019 -- YAMANA GOLD INC. (TSX: YRI; NYSE: AUY) (“Yamana” or “the Company”) today provided an update on exploration activities at its 50% owned Canadian.
(Bloomberg) -- Whoever wins next month’s presidential election in Argentina will have to rely on commodity exporters to bring in much-needed foreign currency. The mining industry is hoping that will win them some concessions.Since Peronist candidate Alberto Fernandez nailed a landslide win over President Mauricio Macri in an August primary election, Argentina’s foreign currency reserves have fallen 22%, with $14.6 billion draining from the country.The victory has led mining companies that were considering billions of dollars in investment in Argentina to think again. They want clarity on whether Fernandez and his running mate, former President Cristina Fernandez de Kirchner, will resort to the protectionist measures and populist policies of the past.“It is more than natural that anyone mulling an investment in Argentina is taking some time to think,” said Gustavo Koch, executive director at Argentina’s mining chamber Caem. “Decisions will be delayed and I’m not sure they will necessarily happen after the elections.”Foreign companies are monitoring the situation, according to both Daniel Meilan, a former Mining Secretary under Macri, and Rolando Davila, secretary general of the Chile and Argentina chamber of commerce. Both said they’re serving as advisers for the companies, which they declined to name.“It’s a shame, but this looks like another setback for the mining sector in Argentina and the question is how long and how big that setback will be,” said Fiona Mackie, Latin America director at the Economist Intelligence Unit. “Even if Fernandez wants to implement a relatively pragmatic, centric policy, there’s a huge risk we won’t see macroeconomic stabilization for a few more years.”Last Sunday, Macri’s government announced capital controls to halt the slump in foreign currency reserves, including restrictions on distributing benefits abroad and on buying dollars. But there’s already been a backlash in agriculture, Argentina’s top exporting sector. Among other strategies, farmers are planting more soybeans instead of corn because it requires less investment.Meilan says that whoever becomes president will need to support mining growth in Argentina to help rebuild the country’s economy. “Argentina has no alternative,” Meilan said in an interview in Santiago, Chile. “It needs to export and it needs dollars to come back in. That’s true for Macri, and that’s true for Fernandez.”Mining giants Glencore Plc., Newmont Goldcorp Corp. and Yamana Gold Inc. are doing early studies on a plan to jointly develop the Agua Rica gold and copper deposit in the country’s northwest. In March, the government said an investment decision could happen within months. The companies are planning to present a feasibility study within the next year, Yamana said on Tuesday in an emailed answer to questions. Newmont Goldcorp and Glencore declined to comment.Yamana does not expect capital controls to have a significant impact on the business, as the project is years away from entering production, the statement said. The company doesn’t like the imposition of currency controls, but is confident that it’s a short term measure and that it can manage around it.Reviewing RulesBarrick Gold Corp., which operates the Veladero gold mine, said in an email that it is reviewing the new rules and it expects to be able to work within the regulations as required. “Argentina’s political situation right now is dynamic,” the company said. “While we are always supportive of our host countries, we do not involve ourselves in politics.”Fernandez hasn’t made public an economic program for his presidency. While he was seen as more moderate than de Kirchner, his rhetoric has become increasingly combative, saying he is unwilling to support the government’s emergency measures aimed at containing rising volatility.The Peronist candidate told about fifty mining company officials at a private meeting in Buenos Aires last month that Argentina needs to produce and export minerals as a way to get foreign currency flowing into the country, according to a presentation on the meeting by pollster Poliarquia seen by Bloomberg.Fernandez didn’t make promises, but asked miners to see him as an ally, saying he will not be an obstacle for mining activity, according to the document. A spokesperson for Fernandez did not immediately respond to a request for comment. The document, aimed at mining executives who did not attend the meeting, included a word of caution.“There is no certainty that what he said in that meeting is what will actually happen,” the Poliarquia presentation said. “Everything that mining representatives heard was said by a politician, an Argentine and a Peronist who is about to win the next elections.”\--With assistance from Vinicy Chan.To contact the reporter on this story: Laura Millan Lombrana in Santiago at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Reg Gale, Philip SandersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investors on Wall Street have been growing nervous in recent weeks, and for good measure.The yield curve has inverted, a strong signal a recession is coming. The trade tensions between the United States and China remain high. And President Donald Trump seems determined to bully the Federal Reserve into cutting rates aggressively and weakening the U.S. dollar, all in an effort to bolster the U.S. economy and punch back against competitive devaluations underway by China and others.So it's not surprising that precious metals have perked up nicely alongside the gold and silver mining stocks. This is an area of the market that was left for dead for years -- as cryptocurrencies like bitcoin enjoyed the anti-dollar attention. But that's changing now.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off Here are six cheap gold and silver stocks worth a look: Hecla Mining (HL)Hecla Mining (NYSE:HL) shares have scrambled back up and over their 50-day moving average, pushing up off of a solid base of support established over the last few months. Watch for a breakout attempt above the 200-day average, which hasn't been crossed in a major way since the middle of 2017.The company will next report results on Nov. 7 before the bell. Analysts are looking for a loss of two cents per share on revenues of $167.8 million. When the company last reported on Aug. 7, a loss of two cents per share missed estimates by seven cents on a 8.9% decline in revenues. Endeavour Silver (EXK)Shares of Endeavour Silver (NYSE:EXK) are moving back up to challenge their late March highs, making another attempt on the 200-week moving average after once again rising off of support near the $1.80-a-share level established in late 2018. The company will present at the upcoming Denver Gold 30th Annual Forum on Sept. 15. * 7 Tech Industry Dividend Stocks for Growth and Income Analysts at Noble Capital Markets recently downgraded shares on worries production costs were too high in a low price environment. But with metals prices on the rise, these concerns should fade. Yamana Gold (AUY)Shares of Yamana Gold (NYSE:AUY) have been on a tear lately, maintaining a steady rise above its 20-day moving average to return to the highs last seen in early 2018. An extension of the push here would return prices to levels not seen since 2016.The company will next report results on Oct. 24 after the close. Analysts are looking for earnings of two cents per share on revenues of $368 million. When the company last reported on July 25, earnings of two cents per share matched estimates on a 6.4% rise in revenues. IAMGOLD (IAG)IAMGOLD (NYSE:IAG) shares have returned to the trading range near the $4-a-share threshold that has halted the bulls repeatedly over the past year. But with gold prices on the move, I think a push past the resistance level and move above its 200-week moving average for the first time since early 2018. * 7 Stocks to Buy Down 10% in the Past Week The company will next report results on Nov. 5 after the close. Watch for earnings of one cent per share on $282.1 million in revenues. When the company last reported on Aug. 7, a loss of three cents per share missed estimates by two cents on an 11.1% decline in revenue. Kinross Gold (KGC)Kinross Gold (NYSE:KGC) is riding a steady support line along its 20-day moving average, returning to highs not seen since the middle of 2016. The company recently announced the acquisition of a property in Russia for $283 million -- extending the company's 24-year history of operating in the country.Management will next report results on Nov. 6 after the close. Analysts are looking for earnings of seven cents per share on revenues of $949.9 million. When the company last reported on July 31, earnings of six cents per share beat estimates by three cents on an 8.1% rise in revenues. Coeur D Alene Mines (CDE)Shares of Coeur D Alene Mines (NYSE:CDE) have returned to prior resistance levels near the $6-a-share level. Watch for an extension back towards the 200-week moving average, which hasn't been tested since the summer of 2018.The company will next report results on Oct. 30 after the close. Analysts are looking for a loss of four cents per share on revenues of 205 million. When the company last reported on Aug. 7, a loss of 11 cents per share matched estimates on a 4.6% decline in revenues. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off * 7 'Strong Buy' Stocks to Beat Volatility * 7 Mega-Cap Tech Stocks on a Rebound Now The post 6 Cheap Gold and Silver Stocks to Buy Now appeared first on InvestorPlace.
Trade has played foul on Wall Street throughout August, sending the broad indices into a tailspin, thus compelling investors to flock to gold as a great store of value and hedge against market turmoil.
Moody's Investors Service ("Moody's") revised the rating outlook for Yamana Gold Inc. ("Yamana") to stable from negative. At the same time Moody's affirmed the senior unsecured ratings of Yamana Gold Inc at Baa3. "The rating outlook change to stable reflects the significant debt reduction Yamana has achieved following the sale of its Chapada mine and our expectation the company will be cash flow generative," said Jamie Koutsoukis, Moody's Analyst.
Yamana Gold Inc. (AUY) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front.
The past two weeks have not been kind to the stock market.First, the Federal Reserve cut basis points by "only" 25 basis points in late July -- many investors were expecting a 50 basis point cut -- and then Fed Chair Jerome Powell sounded less dovish than expected in the following press conference with respect to future rate cuts. The next day, U.S. President Donald Trump -- perhaps in an attempt to force the Fed to cut rates -- upped the trade war ante by announcing a 10% tariff on $300 billion worth of Chinese goods. A few days later, China responded by directly devaluing its currency against the U.S. dollar.It has been nothing but bad economic news over the past two weeks for markets. Stocks have consequently taken a step back. As of this writing, the S&P 500 trades 5% off its all time highs.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut, not all stocks have stepped back with the market. Instead, some stocks have shrugged off the trade war noise, and have powered to fresh 2019 highs in early August. * 8 Dividend Aristocrat Stocks to Buy Now No Matter What Which stocks have done that? More importantly, will they stay in rally mode?Let's answer those questions and more by taking a look at five stocks that rushed to fresh 2019 highs amid recent market turbulence. Hot Stocks Hitting 2019 Highs: Gold Stocks (GLD, AUY, KGC, GFI, HMY, RGLD, etc)YTD Change: 17% (for GLD)Pretty much every gold and gold-related stock -- Yamana Gold (NYSE:AUY), Kinross Gold Corporation (NYSE:KGC), Gold Fields (NYSE:GFI), Harmony Gold Mining (NYSE:HMY), and Royal Gold (NASDAQ:RGLD) -- has rushed to fresh 2019 highs in August as the trade war heats up.This makes 100% sense. Gold is often perceived as a hedge against risk of all sorts: geopolitical, economic, and financial market risk. All three of those risks are rising right now and have been rising all year long. The global geopolitical landscape is on rocky footing, with threats ranging from trade wars to political tensions. The global economy is slowing. Financial assets, particularly U.S. stocks and bonds, are trading at very rich valuations.As such, it makes complete sense that the SPDR Gold Trust ETF (NYSEARCA:GLD) is up 17% year-to-date, and at a multi-year high.This rally in gold and gold-related stocks should persist. The aforementioned geopolitical, economic, and financial market risks may cool going forward. But, they won't all together disappear. Throw in the fact that we are in the midst of the longest bull market in history, and it seems like investors will increasingly buy gold and gold-related stocks as a hedge against risk for the foreseeable future. Match (MTCH)YTD Change: 117%Growth stocks have been hit hard amid the recent market sell-off. Not Match (NASDAQ:MTCH). The online dating giant -- which owns Match.com, Tinder, Hinge, and many other dating platforms -- just reported second quarter numbers that breezed past expectations. It broadly affirmed that online dating is a global phenomena which nearly every single person wants to participate in.MTCH stock popped 25% to new all-time highs in response, and is now up nearly 101% year-to-date.Can the rally continue? Yes. Ultimately, Match has turned into the Facebook (NASDAQ:FB) of online dating, since they have basically acquired all their competitors (outside of Bumble) and own the entire online dating space.Online dating is a global phenomena. There's tons of room left for further subscriber and revenue growth here. All of the revenues are produced through a high-margin subscription model. Thus, there's visibility to huge profit growth over the next several years, and stocks with huge profit growth potential will out-perform so long as real rates remain next to zero.But, don't confuse a favorable market backdrop (real rates near zero) for fundamental support. MTCH stock now trades at 50 times forward earnings. Adjusted EBITDA grew 16% last quarter. That's a sharp disconnect that is supported only because of low rates. Thus, if rates move higher, MTCH stock will move lower. * 5 Cheap Stocks to Buy Now That the Fed Cut Rates Until that happens, MTCH stock will stay on an uptrend. Most Solar Stocks (TAN, SEDG, ENPH, VSLR, etc)YTD Change: 66% (for TAN)Source: Shutterstock Solar energy stocks have on been fire in 2019, with the Invesco Solar Portfolio ETF (NYSEARCA:TAN) up nearly 67% year-to-date, as the long-term growth fundamentals underlying the industry have materially improved.Specifically, for the first time ever, solar energy is going mainstream. There are few fundamental drivers here. First, the numbers finally check out, as the cost of renewable energy has come down substantially. Second, consumers have increasingly adopted a "save the environment" approach to their consumption behavior, and part of that approach includes pivoting to solar. Third, legislation globally has increased incentives for solar tech adoption. Fourth, the underlying technology has improved meaningfully.These four fundamental drivers should persist for the foreseeable future. That means big growth is here to stay for solar companies. Just look at the profit growth estimates for these companies over the next few years. We are largely talking 20%-plus profit growth over the next several years. That's an attractive growth profile. It's especially attractive against the backdrop of low rates.As such, names like SolarEdge (NASDAQ:SEDG), Enphase Energy (NASDAQ:ENPH), and Vivint Solar (NYSE:VSLR) -- all of which are at 2019 highs today -- should continue to power higher. Shake Shack (SHAK)YTD Change: 103%Source: Shutterstock Shares of Shake Shack (NYSE:SHAK) powered to all-time highs in early August after the company reported second-quarter numbers which smashed expectations across the board. Importantly, the numbers and management commentary on the quarter confirmed that delivery expansion presents a huge revenue growth opportunity going forward, and that this growth opportunity won't meaningfully compromise margins -- so it presents a huge a profit growth opportunity, too.Investors celebrated those takeaways, and pushed SHAK stock to new highs.In the big picture, SHAK stock is now very richly valued. This valuation is somewhat supported by big growth -- positive comps on top of big unit expansion. But, as is the case with some of the other stocks on this list, part of the support from today's big valuation comes from low rates. After all, SHAK stock trades at a triple-digit forward earnings multiple, yet profits grew by less than 20% year-over-year last quarter. That discrepancy only makes sense given that real rates are next to zero. * 10 Stocks to Buy on the Trade War Dip If rates do rise from here, SHAK stock will get hit hard. Until that happens, momentum should continue to carry this stock higher for the foreseeable future. REITs (SCHH, WELL, CUBE)YTD Change: 19% (for SCHH)Source: Shutterstock Much like gold, REITs have been big winners amid recent market volatility as investors turned down their risk appetites, upped their defensive strategies, and turned to traditional safe-haven plays. The Schwab U.S. REIT ETF (NYSEARCA:SCHH) is presently just south of 2019 highs, and up 19% year-to-date. Names like Public Storage (NYSE:PSA), Welltower (NYSE:WELL), and CubeSmart (NYSE:CUBE) are all trading at 52-week highs.For the same reasons that gold and gold-related stocks will stay in rally mode, U.S. REITs will stay in rally mode, too. Geopolitical, economic, and financial market risks are rising, and they don't project to disappear anytime soon. So long as those risks stick around, investors will continue to play defense. One mainstream way to play defense is by piling into U.S. REITs.Also helping things will be current and future rate cuts. The lower rates go, the better the environment gets for REITs, and the more investors will smile upon the industry as a high-quality defensive play.Net-net, names like PSA, WELL, and CUBE should continue to grind higher into the end of the year.As of this writing, Luke Lango was long FB and TAN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Aristocrat Stocks to Buy Now No Matter What * 7 Stocks to Buy to Ride the Vegan Wave * 4 Safe Stocks to Buy Amid Trade War Turbulence The post 5 Stocks Hitting New Highs Amid Trade War Turbulence appeared first on InvestorPlace.
Global equities are trying to hold steady on Thursday amid ongoing worries about the U.S.-China trade fight after Beijing unleashed a competitive currency devaluation earlier this week. President Donald Trump has responded, explaining on Twitter (of course!) That he is not thrilled with the strong dollar and the Federal Reserve's resistance to deeper interest rate cuts.Both sides seem to be digging in for a long fight -- and that's bolstering precious metals to multi-year highs. After all, the weapons of choice in the battle are abuses of the fiat currency system as more and more of the global bond market trades with negative yields. * 5 Cheap Stocks to Buy Now That the Fed Cut Rates After years of neglect and stolen attention from bitcoin and other cryptocurrencies, gold and silver are back in the limelight. And many mining stocks are extremely cheap after being left out for so long. Here are four worth a look right now:InvestorPlace - Stock Market News, Stock Advice & Trading Tips Gold Stocks to Buy Now: IAMGOLD (IAG)IAMGOLD (NYSE:IAG) shares are pulling back hard today, down over 16%, presenting a nice buying opportunity after an impressive near-80% rally off of its late-May lows. A lowering of forward production guidance and the reporting of some soft numbers is responsible for the pullback -- but are all based on backward looking data that is set to change as underlying gold prices push higher.The company will next report results on Nov. 6 after the close. When the company last reported on Aug. 7, a loss of three cents per share missed estimates by two cents on an 11.1% decline in revenues. Yamana Gold (AUY)Shares of Yamana Gold (NYSE:AUY) are going vertical, nearly doubling off of the lows set in late May to return to levels not seen since early 2018. An extended push here back to the 2016 highs would be worth a gain of roughly 70% from here. Back in July, the company announced a pre-feasibility study for its Agua Rica project in Argentina which increased proven and probable gold reserves by 12%. * 10 Stocks to Buy on the Trade War Dip The company will next report results on Oct. 24 after the close. Analysts are looking for earnings of a penny per share on revenues of $348.2 million. When the company last reported on July 25, earnings of two cents per share matched estimates on a 6.4% rise in revenues. B2Gold (BTG)Shares of B2Gold (NYSEAMERICAN:BTG) stock are breaking up and out of a sideways consolation range going back to 2016, rising nearly 60% off of the lows set in late May to return to its post-IPO highs set back in 2012 and 2013. The company continues to expand operations at its facilities in Nicaragua and Colombia.The company will next report results on Nov. 5 after the close. Analysts are looking for earnings of five cents per share one revenues of $349.2 million. When the company last reported on Aug. 6 earnings of five cents beat estimates by two cents on a 10.3% rise in revenues. Kinross Gold (KGC)Shares of Kinross Gold (NYSE:KGC) stock are extending higher, furthering a push off of their 200-day moving average, returning to the highs set in 2016. The company was among the names listed by Barclays analysts as likely to enjoy a price multiple rerating by the market amid a bull market in gold and silver. Higher prices allow for margin expansion and the restarting of investment in mining facilities. That, in turn, will boost output and further margin expansion in a virtuous cycle. * 10 Cyclical Stocks to Buy (or Sell) Now The company will next report results on Nov. 6 after the close. Analysts are looking for earnings of six cents per share on revenues of $898.5 million. When the company last reported on July 31, earnings of six cents per share beat estimates by three cents on an 8.1% rise in revenues.As of this writing, William Roth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Internet Stocks Getting Hammered * 6 Big Growth ETFs to Buy For the Second Half of 2019 * 5 Cheap Stocks to Buy Now That the Fed Cut Rates The post 4 Cheap Gold Stocks to Buy Now appeared first on InvestorPlace.
TORONTO, Aug. 08, 2019 -- YAMANA GOLD INC. (TSX: YRI; NYSE: AUY) (“Yamana” or “the Company”) today announced the final results of its previously announced cash tender offers.
NYSE: AUY) (“Yamana” or “the Company”) today announced the Reference Yields and Consideration payable in connection with its previously announced cash Tender Offer for its 4.78% Senior Notes due 2023 (Series B), 4.95% Senior Notes due 2024 and 4.625% Senior Notes due 2027 (collectively, the “Fixed Spread Notes”). Capitalized terms used but not otherwise defined in this press release have the meanings given to those terms in Yamana’s Offer to Purchase dated July 5, 2019 (the “Offer to Purchase”). The table below sets forth the Reference Yield for each series of Fixed Spread Notes based on the bid-side price of the applicable UST Reference Security as displayed at 2:00 p.m., New York City time, on August 5, 2019 on the relevant Bloomberg reference page specified in the Offer to Purchase and the Consideration payable for each $1,000 in principal amount of Fixed Spread Notes tendered, subject to the terms and conditions of the Offer to Purchase.