by Sam Collins | March 20, 2013 4:06 am
Yamana Gold (NYSE:AUY) — This large-cap, Canadian miner of gold properties in the Americas has been recommended several times in the Trade of the Day during the past year.
Thus far, earnings and production have been consistently in line with expectations, but the stock has fluctuated with the price of gold. The fundamental picture is sound with earnings estimates by Credit Suisse at $1 for 2013 and $1.38 for 2014.
The technical picture is also solid. The stock flashed a buy signal from our proprietary indicator, the Collins-Bollinger Reversal (CBR), on March 6, as AUY reversed from its bullish support line backed by a MACD buy signal.
Buy AUY as a core holding in the gold mining group. Its near-term trading objective is $17, but it is a solid long-term hold for investors who want to use gold as a hedge.
Source URL: https://investorplace.com/2013/03/trade-of-the-day-yamana-gold-nyse-auy-7/
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