NEW YORK (TheStreet) -- Shares of Yamana Gold Inc. are down by 2.06% to $3.81 in mid-afternoon trading on Tuesday, as the rebound in the dollar sends gold prices tumbling today. The precious metal is reversing gains made on Monday after the Labor Department released its latest jobs report for the month of March. The report showed that last month employers added fewer jobs than what analysts were expecting. Despite today's slump analysts say that concerns regarding Greece may offer a floor for the yellow metal. "Demand for gold should certainly pick up over the week, since Greece is due to make a substantial repayment to the International Monetary Fund on Thursday. If it fails to do so, investors are likely to focus more strongly on the prospect of Gretix again," Eugen Weinberg, the head of commodity research at Commerzbank, told MarketWatch. Gold for June delivery is slipping by 0.84% to $1,208.40 per ounce on the COMEX this afternoon. Insight from TheStreet's Research Team: Yamana Gold is a core holding of David Peltier's Stocks Under $10 Portfolio. During the most recent weekly roundup this is what Dave had to say about the stock: This gold-and- copper exploration company operates seven mines and several ongoing development projects in Brazil, Argentina and Chile. The stock declined fractionally this week. Even so, the underlying price of gold appears to have stabilized and management is focused on maximizing margins in the coming quarters. -David Peltier 'Weekly Roundup' Originally Published on 4/2/2015. Want more like this from David Peltier? Learn more about Stocks Under $10 now! AUY data by YCharts Must Read: Warren Buffett's Top 25 Stocks for 2015
Click to view a price quote on AUY. Click to research the Metals & Mining industry.
from Latest TSC Headlines http://ift.tt/1E0YJxQ
No comments:
Post a Comment