Jump on the Gold Bandwagon With the ‘Smart Money’

Yamana Gold (NYSE:AUY) — This large-cap gold miner made a high at just over $17 in early September, but fell back as gold retrenched. AUY has been our favorite gold miner since early last year, and it has been a winner. And AUY is a favorite of Wall Street analysts with 10 of 15 having a “buy” or a “buy/hold” on the stock.

AUY was recommended on our Top Stocks for November buy list: “Our objective for the year is $18, and with a new interest in gold it could have another run at its high before the end of this year. Buy AUY at $15 or lower.”

The deep correction in gold may have run its course with the “smart money” beginning to buy. AUY is currently under $15 — buy between $14 and $15 for a price objective of $18.

Trade of the Day – Yamana Gold (NYSE:AUY)
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Trade of the Day Chart Key

Article printed from InvestorPlace Media, https://investorplace.com/2012/01/jump-on-the-gold-bandwagon-with-the-smart-money/.

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