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Yamana Gold Is Low Enough to Mine

Yamana Gold (NYSE:AUY) — This large-cap Canadian-based miner of gold properties in the Americas has been recommended several times by us, the last was on March 8 around $17.

The fundamental analysts, like Credit Suisse (NYSE:CS), have raised their target from $18 to $21 because of the company’s increase in gold reserves and its ability to meet estimates and increase its dividend.

AUY’s chart pattern has evolved into a powerful bull channel with clearly defined support and resistance lines. Our “buy-under” for AUY on March 8 was $16 with a target of $22. It closed under $16 yesterday, and so AUY should be bought “at the market.”

Trade of the Day Chart Key


Article printed from InvestorPlace Media, https://investorplace.com/2012/03/yamana-gold-auy-is-low-enough-to-mine/.

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