Shares of Yamana Gold (AUY – Get Report) are rising, up 3.44% to $4.36 in afternoon trading Tuesday, as gold-related stocks rally on higher gold prices due to a soft dollar, CNBC reports.
Gold is up after two sessions of losses, as the dollar eased ahead of tomorrow’s U.S. Federal Reserve interest rate announcement.
The Federal Open Market Committee kicked off its first two-day policy meeting of the year today.
Spot gold is trading up 0.8% to $1,291.13 an ounce as of 12:43 p.m. ET today.
Canada-based Yamana is a gold producer, engaged in gold production, gold development stage properties, exploration properties and land positions in Brazil, Chile, Argentina, Mexico and Colombia.
Separately, TheStreet Ratings team rates YAMANA GOLD INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
“We rate YAMANA GOLD INC (AUY) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company’s weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself.”