|Bid||4.5200 x 0|
|Ask||4.5300 x 0|
|Day's Range||4.4500 - 4.5600|
|52 Week Range||2.4100 - 5.0400|
|Beta (3Y Monthly)||0.57|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 23, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||0.04 (0.87%)|
|1y Target Est||3.76|
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 firstname.lastname@example.orgTo contact the editors responsible for this story: Luzi Ann Javier at email@example.com, Reg Gale, Philip SandersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Just when it looked like gold’s rally was starting to founder, the Federal Reserve and an escalation in the U.S.-China trade fracas have given the metal new life.Gold, which had been headed for a weekly loss Friday morning, closed at a fresh six-year high after the U.S.-China trade fight intensified and Federal Reserve Chairman Jerome Powell said the U.S. economy faces significant risks from slowing global growth. Bullion’s rebound comes after mixed economic data and doubts expressed by some U.S. central bank officials on further U.S. interest-rate cuts crimped demand for the metal earlier in the week. With the rebound on Friday, prices have now posted seven straight weekly gains, the longest run since 2011.“With the macro environment deteriorating, i.e. China ratcheted up tariffs today, Brexit, Hong Kong, and the weakness of European bank balance sheets, you can now add a supportive U.S. central bank,” Jim Wyckoff, senior analyst at Kitco Metals, said in an emailed report. “Fed Chairman Powell indicated the Fed would do what was necessary to keep the economy rolling, adding new momentum to gold prices.”Trade-policy uncertainty seems to be playing a role in the global slowdown and in weak manufacturing and capital spending in the U.S., Powell said in the text of remarks Friday in Jackson Hole, Wyoming. “We will act as appropriate to sustain the expansion,” he said. That bolstered expectations the central bank will cut U.S. interest rates further.“That’s a very accommodating statement,” Bob Haberkorn, senior market strategist at RJO Futures in Chicago, said by phone. “They’re going to keep this thing going for as long as they can.”Traders of fed funds futures jacked up their expectations for the amount of easing they expect from the U.S. central bank this year after Powell’s remarks. The outlook for lower rates may help revive investor demand for gold, which erased a weekly loss. Lower rates are a boon for the metal, which doesn’t pay interest.Gold futures for December delivery rose 1.9% to settle at $1,537.60 an ounce at 1:32 p.m. on the Comex in New York, after falling as much as 0.4% earlier.The new salvos on the trade war added to concerns that demand for copper and other industrial metals will be further hurt. December copper futures fell 1.1% to $2.5375 a pound on the Comex, the lowest since May 2017.A gauge of gold miners climbed to a three-year high on Friday, led by Toronto-based miners Yamana Gold Inc. and Kinross Gold Corp., while an index of global base-metals companies touched an eight-month low.“The headlines coming out of China and Jackson Hole today, combined with a long weekend in U.K., see people taking some risks off” in the base metals market, Thomas Capalbo, vice president, hedge funds and financial institutions, at Societe Generale SA, said by phone.To contact the reporters on this story: Justina Vasquez in New York at firstname.lastname@example.org;Yvonne Yue Li in New York at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Joe Richter, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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.
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.
TORONTO, July 25, 2019 -- YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or “the Company”) is herein reporting its financial and operational results for the second quarter.
TORONTO, July 25, 2019 -- YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or the “Company”) announced its previously approved 100% increase in its annual dividend to $0.04 and.
NYSE:AUY) (“Yamana” or “the Company”) is pleased to announce the results of the pre-feasibility study (“PFS”) on the Agua Rica project in the Catamarca Province of Argentina. Refers to a non-GAAP financial measure.
The tender offer is made pursuant to Yamana’s Offer to Purchase, dated July 5, 2019 (the “Offer to Purchase”), in which Yamana has also offered to purchase several series of its other Senior Notes, which are referred to in the Offer to Purchase as the Private Notes. As set out in the Offer to Purchase, if $415,000,000 aggregate principal amount or more of the Private Notes are tendered in the tender offer, Yamana will not accept any tenders of Public Notes for purchase.
NYSE:AUY) (“Yamana” or “the Company”) announces second quarter 2019 production of 257,556 gold equivalent ounces (“GEO”). The Company continues to anticipate a strong second half and remains on track to meet its full-year 2019 guidance. Consistent with previous guidance, the Company expects to report positive free cash flow in the second quarter.
TORONTO, July 05, 2019 -- YAMANA GOLD INC. (TSX: YRI; NYSE: AUY) (“Yamana” or “the Company”) today announced that it has commenced cash tender offers (the “Tender Offers”) for.
NYSE:AUY) (“Yamana” or the “Company”) today announced it has completed the sale of its wholly-owned Chapada mine to Lundin Mining Corporation (LUN.TO) (“Lundin”) for total consideration of over $1.0 billion. Yamana has received the initial upfront cash consideration of $800 million on closing.