Yamana Gold, Inc. AUY is a gold producer that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AUY’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Yamana Gold could be a solid choice for investors.
Current Quarter Estimates for AUY
In the past 30 days, 1 estimate has gone higher for Yamana Gold with no downward revisions in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 2 cents a share 30 days ago, to breakeven today, a move of 100%.
Current Year Estimates for AUY
Meanwhile, Yamana Gold’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to no downward revisions. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 1 cent per share 30 days ago to earnings estimate of 3 cents per share today, making a significant increase.
Bottom Line
The stock has also started to move higher lately, adding 16.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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