Intrinsic value of Yamana Gold - AUY

Previous Close

$2.06

  Intrinsic Value

$1.02

stock screener

  Rating & Target

str. sell

-51%

Previous close

$2.06

 
Intrinsic value

$1.02

 
Up/down potential

-51%

 
Rating

str. sell

We calculate the intrinsic value of AUY stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  1,840
  1,882
  1,931
  1,985
  2,045
  2,111
  2,183
  2,261
  2,345
  2,435
  2,531
  2,634
  2,743
  2,859
  2,983
  3,113
  3,252
  3,398
  3,553
  3,716
  3,888
  4,070
  4,261
  4,463
  4,675
  4,899
  5,134
  5,382
  5,643
  5,917
Variable operating expenses, $m
  2,327
  2,379
  2,439
  2,506
  2,581
  2,663
  2,752
  2,849
  2,952
  3,064
  3,138
  3,266
  3,401
  3,546
  3,699
  3,861
  4,032
  4,214
  4,405
  4,608
  4,821
  5,047
  5,284
  5,534
  5,798
  6,075
  6,367
  6,674
  6,998
  7,338
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,327
  2,379
  2,439
  2,506
  2,581
  2,663
  2,752
  2,849
  2,952
  3,064
  3,138
  3,266
  3,401
  3,546
  3,699
  3,861
  4,032
  4,214
  4,405
  4,608
  4,821
  5,047
  5,284
  5,534
  5,798
  6,075
  6,367
  6,674
  6,998
  7,338
Operating income, $m
  -487
  -497
  -508
  -521
  -536
  -552
  -569
  -588
  -608
  -629
  -608
  -632
  -659
  -686
  -716
  -747
  -781
  -816
  -853
  -892
  -933
  -977
  -1,023
  -1,071
  -1,122
  -1,176
  -1,233
  -1,292
  -1,355
  -1,421
EBITDA, $m
  -20
  -21
  -21
  -22
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -33
  -34
  -36
  -37
  -39
  -41
  -43
  -45
  -47
  -49
  -51
  -54
  -56
  -59
  -62
  -65
Interest expense (income), $m
  96
  153
  159
  167
  176
  186
  197
  209
  223
  237
  253
  269
  287
  306
  326
  348
  371
  395
  420
  447
  476
  506
  538
  572
  607
  644
  684
  725
  769
  814
  863
Earnings before tax, $m
  -639
  -656
  -676
  -698
  -722
  -749
  -778
  -810
  -845
  -882
  -877
  -919
  -965
  -1,013
  -1,064
  -1,118
  -1,175
  -1,236
  -1,300
  -1,368
  -1,440
  -1,515
  -1,595
  -1,679
  -1,767
  -1,860
  -1,958
  -2,061
  -2,169
  -2,283
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -639
  -656
  -676
  -698
  -722
  -749
  -778
  -810
  -845
  -882
  -877
  -919
  -965
  -1,013
  -1,064
  -1,118
  -1,175
  -1,236
  -1,300
  -1,368
  -1,440
  -1,515
  -1,595
  -1,679
  -1,767
  -1,860
  -1,958
  -2,061
  -2,169
  -2,283

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  8,931
  9,137
  9,372
  9,635
  9,927
  10,248
  10,597
  10,975
  11,382
  11,819
  12,286
  12,784
  13,315
  13,880
  14,478
  15,113
  15,784
  16,495
  17,245
  18,038
  18,874
  19,755
  20,685
  21,664
  22,695
  23,781
  24,924
  26,127
  27,392
  28,723
Adjusted assets (=assets-cash), $m
  8,931
  9,137
  9,372
  9,635
  9,927
  10,248
  10,597
  10,975
  11,382
  11,819
  12,286
  12,784
  13,315
  13,880
  14,478
  15,113
  15,784
  16,495
  17,245
  18,038
  18,874
  19,755
  20,685
  21,664
  22,695
  23,781
  24,924
  26,127
  27,392
  28,723
Revenue / Adjusted assets
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
  0.206
Average production assets, $m
  7,797
  7,977
  8,182
  8,412
  8,667
  8,947
  9,251
  9,581
  9,937
  10,318
  10,726
  11,161
  11,625
  12,117
  12,640
  13,194
  13,780
  14,400
  15,056
  15,747
  16,477
  17,247
  18,058
  18,913
  19,814
  20,762
  21,760
  22,810
  23,914
  25,076
Working capital, $m
  101
  104
  106
  109
  112
  116
  120
  124
  129
  134
  139
  145
  151
  157
  164
  171
  179
  187
  195
  204
  214
  224
  234
  245
  257
  269
  282
  296
  310
  325
Total debt, $m
  2,124
  2,228
  2,347
  2,481
  2,630
  2,793
  2,970
  3,162
  3,369
  3,590
  3,828
  4,081
  4,351
  4,637
  4,942
  5,264
  5,605
  5,966
  6,347
  6,750
  7,174
  7,622
  8,094
  8,592
  9,116
  9,667
  10,248
  10,859
  11,502
  12,178
Total liabilities, $m
  4,537
  4,642
  4,761
  4,895
  5,043
  5,206
  5,383
  5,575
  5,782
  6,004
  6,241
  6,495
  6,764
  7,051
  7,355
  7,677
  8,018
  8,379
  8,761
  9,163
  9,588
  10,036
  10,508
  11,005
  11,529
  12,081
  12,661
  13,272
  13,915
  14,591
Total equity, $m
  4,394
  4,495
  4,611
  4,741
  4,884
  5,042
  5,214
  5,400
  5,600
  5,815
  6,045
  6,290
  6,551
  6,829
  7,123
  7,436
  7,766
  8,115
  8,485
  8,874
  9,286
  9,720
  10,177
  10,659
  11,166
  11,700
  12,263
  12,854
  13,477
  14,132
Total liabilities and equity, $m
  8,931
  9,137
  9,372
  9,636
  9,927
  10,248
  10,597
  10,975
  11,382
  11,819
  12,286
  12,785
  13,315
  13,880
  14,478
  15,113
  15,784
  16,494
  17,246
  18,037
  18,874
  19,756
  20,685
  21,664
  22,695
  23,781
  24,924
  26,126
  27,392
  28,723
Debt-to-equity ratio
  0.480
  0.500
  0.510
  0.520
  0.540
  0.550
  0.570
  0.590
  0.600
  0.620
  0.630
  0.650
  0.660
  0.680
  0.690
  0.710
  0.720
  0.740
  0.750
  0.760
  0.770
  0.780
  0.800
  0.810
  0.820
  0.830
  0.840
  0.840
  0.850
  0.860
Adjusted equity ratio
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492
  0.492

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -639
  -656
  -676
  -698
  -722
  -749
  -778
  -810
  -845
  -882
  -877
  -919
  -965
  -1,013
  -1,064
  -1,118
  -1,175
  -1,236
  -1,300
  -1,368
  -1,440
  -1,515
  -1,595
  -1,679
  -1,767
  -1,860
  -1,958
  -2,061
  -2,169
  -2,283
Depreciation, amort., depletion, $m
  466
  476
  487
  500
  513
  529
  545
  563
  582
  603
  580
  603
  628
  655
  683
  713
  745
  778
  814
  851
  891
  932
  976
  1,022
  1,071
  1,122
  1,176
  1,233
  1,293
  1,355
Funds from operations, $m
  -173
  -180
  -188
  -198
  -209
  -220
  -233
  -248
  -263
  -279
  -297
  -316
  -336
  -358
  -381
  -405
  -431
  -458
  -487
  -517
  -549
  -583
  -619
  -656
  -696
  -738
  -782
  -828
  -876
  -928
Change in working capital, $m
  2
  2
  3
  3
  3
  4
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  8
  8
  9
  9
  9
  10
  11
  11
  12
  12
  13
  14
  14
  15
Cash from operations, $m
  -175
  -182
  -191
  -201
  -212
  -224
  -237
  -252
  -268
  -284
  -302
  -322
  -342
  -364
  -387
  -412
  -438
  -466
  -495
  -526
  -558
  -593
  -629
  -667
  -708
  -750
  -794
  -841
  -891
  -943
Maintenance CAPEX, $m
  -413
  -421
  -431
  -442
  -455
  -468
  -484
  -500
  -518
  -537
  -558
  -580
  -603
  -628
  -655
  -683
  -713
  -745
  -778
  -814
  -851
  -891
  -932
  -976
  -1,022
  -1,071
  -1,122
  -1,176
  -1,233
  -1,293
New CAPEX, $m
  -152
  -179
  -205
  -230
  -255
  -280
  -305
  -330
  -355
  -381
  -408
  -435
  -463
  -493
  -523
  -554
  -586
  -620
  -655
  -692
  -730
  -770
  -811
  -855
  -900
  -948
  -998
  -1,050
  -1,105
  -1,162
Cash from investing activities, $m
  -565
  -600
  -636
  -672
  -710
  -748
  -789
  -830
  -873
  -918
  -966
  -1,015
  -1,066
  -1,121
  -1,178
  -1,237
  -1,299
  -1,365
  -1,433
  -1,506
  -1,581
  -1,661
  -1,743
  -1,831
  -1,922
  -2,019
  -2,120
  -2,226
  -2,338
  -2,455
Free cash flow, $m
  -740
  -783
  -827
  -873
  -922
  -972
  -1,026
  -1,082
  -1,141
  -1,203
  -1,268
  -1,337
  -1,409
  -1,485
  -1,565
  -1,649
  -1,738
  -1,831
  -1,929
  -2,031
  -2,140
  -2,253
  -2,373
  -2,498
  -2,630
  -2,769
  -2,915
  -3,068
  -3,228
  -3,397
Issuance/(repayment) of debt, $m
  87
  104
  119
  134
  148
  163
  177
  192
  207
  222
  237
  253
  270
  287
  304
  322
  341
  361
  381
  403
  425
  448
  472
  497
  524
  552
  581
  611
  643
  676
Issuance/(repurchase) of shares, $m
  720
  757
  791
  827
  866
  907
  950
  996
  1,045
  1,097
  1,107
  1,165
  1,226
  1,290
  1,358
  1,430
  1,506
  1,586
  1,670
  1,758
  1,851
  1,949
  2,052
  2,160
  2,274
  2,394
  2,520
  2,652
  2,792
  2,938
Cash from financing (excl. dividends), $m  
  807
  861
  910
  961
  1,014
  1,070
  1,127
  1,188
  1,252
  1,319
  1,344
  1,418
  1,496
  1,577
  1,662
  1,752
  1,847
  1,947
  2,051
  2,161
  2,276
  2,397
  2,524
  2,657
  2,798
  2,946
  3,101
  3,263
  3,435
  3,614
Total cash flow (excl. dividends), $m
  68
  78
  83
  88
  93
  97
  102
  106
  111
  116
  76
  81
  86
  92
  97
  103
  109
  116
  122
  129
  136
  144
  151
  159
  168
  177
  186
  196
  206
  217
Retained Cash Flow (-), $m
  -720
  -757
  -791
  -827
  -866
  -907
  -950
  -996
  -1,045
  -1,097
  -1,107
  -1,165
  -1,226
  -1,290
  -1,358
  -1,430
  -1,506
  -1,586
  -1,670
  -1,758
  -1,851
  -1,949
  -2,052
  -2,160
  -2,274
  -2,394
  -2,520
  -2,652
  -2,792
  -2,938
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -653
  -679
  -708
  -739
  -773
  -810
  -848
  -890
  -934
  -981
  -1,031
  -1,083
  -1,139
  -1,198
  -1,261
  -1,327
  -1,397
  -1,470
  -1,547
  -1,629
  -1,715
  -1,805
  -1,901
  -2,001
  -2,106
  -2,217
  -2,334
  -2,457
  -2,586
  -2,721
Discount rate, %
  5.80
  6.09
  6.39
  6.71
  7.05
  7.40
  7.77
  8.16
  8.57
  9.00
  9.45
  9.92
  10.42
  10.94
  11.48
  12.06
  12.66
  13.29
  13.96
  14.66
  15.39
  16.16
  16.97
  17.81
  18.71
  19.64
  20.62
  21.65
  22.74
  23.87
PV of cash for distribution, $m
  -617
  -603
  -588
  -570
  -550
  -527
  -502
  -475
  -446
  -414
  -382
  -348
  -314
  -280
  -247
  -215
  -184
  -155
  -129
  -106
  -85
  -67
  -52
  -39
  -29
  -21
  -15
  -10
  -7
  -4
Current shareholders' claim on cash, %
  80.7
  64.8
  51.8
  41.2
  32.7
  25.8
  20.4
  16.0
  12.5
  9.8
  7.7
  6.0
  4.7
  3.7
  2.9
  2.2
  1.7
  1.3
  1.0
  0.8
  0.6
  0.5
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.1

Yamana Gold Inc. is a gold producer with gold production, gold development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. The Company's segments include Chapada mine in Brazil; El Penon mine in Chile; Canadian Malartic mine in Canada; Gualcamayo mine in Argentina; Minera Florida mine in Chile; Jacobina mine in Brazil; Brio Gold Inc. (Brio Gold), and Corporate and other. The Company's development projects include Cerro Moro, Argentina; Agua Rica, Argentina, and Gualcamayo, Argentina. Its exploration projects include Chapada, Brazil; El Penon, Chile; Gualcamayo, Argentina; Minera Florida, Chile; Jacobina, Brazil; Cerro Moro, Argentina; Canadian Malartic Corporation, Canada; Monument Bay, Canada; Brio Gold Exploration; Pilar, Brazil; Fazenda Brasileiro, Brazil; RDM, Brazil, and C1 Santa Luz, Brazil.

FINANCIAL RATIOS  of  Yamana Gold (AUY)

Valuation Ratios
P/E Ratio -6.3
Price to Sales 1.1
Price to Book 0.4
Price to Tangible Book
Price to Cash Flow 2.9
Price to Free Cash Flow 11.5
Growth Rates
Sales Growth Rate 3.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 39.8%
Cap. Spend. - 3 Yr. Gr. Rate -12.4%
Financial Strength
Quick Ratio 2
Current Ratio 0.2
LT Debt to Equity 36.6%
Total Debt to Equity 38.7%
Interest Coverage -5
Management Effectiveness
Return On Assets -2.9%
Ret/ On Assets - 3 Yr. Avg. -10.6%
Return On Total Capital -4.7%
Ret/ On T. Cap. - 3 Yr. Avg. -15.9%
Return On Equity -6.6%
Return On Equity - 3 Yr. Avg. -21.1%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 42.4%
Gross Margin - 3 Yr. Avg. 42.2%
EBITDA Margin -3.2%
EBITDA Margin - 3 Yr. Avg. -35.4%
Operating Margin -26.5%
Oper. Margin - 3 Yr. Avg. -63.2%
Pre-Tax Margin -34.5%
Pre-Tax Margin - 3 Yr. Avg. -68.6%
Net Profit Margin -17.2%
Net Profit Margin - 3 Yr. Avg. -71.8%
Effective Tax Rate 52.8%
Eff/ Tax Rate - 3 Yr. Avg. 10.6%
Payout Ratio -9.1%

AUY stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AUY stock intrinsic value calculation we used $1803.8 million for the last fiscal year's total revenue generated by Yamana Gold. The default revenue input number comes from 0001 income statement of Yamana Gold. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AUY stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.8%, whose default value for AUY is calculated based on our internal credit rating of Yamana Gold, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Yamana Gold.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AUY stock the variable cost ratio is equal to 126.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for AUY stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.5% for Yamana Gold.

Corporate tax rate of 27% is the nominal tax rate for Yamana Gold. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AUY stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AUY are equal to 423.8%.

Life of production assets of 18.5 years is the average useful life of capital assets used in Yamana Gold operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AUY is equal to 5.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4313.4 million for Yamana Gold - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 948.858 million for Yamana Gold is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Yamana Gold at the current share price and the inputted number of shares is $2.0 billion.

RELATED COMPANIES Price Int.Val. Rating
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COMPANY NEWS

▶ Buy Gold Futures or Pick a Gold Mining Stock   [Nov-13-18 10:48AM  Investopedia]
▶ Gold ETFs: All You Need to Know   [Nov-10-18 09:15PM  Motley Fool]
▶ Yamana Gold Is Near 52-Week Low   [Oct-29-18 12:12PM  GuruFocus.com]
▶ Yamana Gold Declares Fourth Quarter Dividend   [06:57PM  GlobeNewswire]
▶ Yamana Gold's Q3 Earnings Outlook   [08:33AM  Benzinga]
▶ A Look At The Intrinsic Value Of Yamana Gold Inc (TSE:YRI)   [Oct-18-18 01:45PM  Simply Wall St.]
▶ Rise Gold Announces Financing of C$2.5 million   [Oct-16-18 01:22PM  Newsfile]
▶ Barclays Takes Action on Gold Mining Stocks   [Oct-11-18 03:43PM  GuruFocus.com]
▶ Why This Gold Miner's Stock Fell 11% in September   [Oct-03-18 09:39AM  Motley Fool]
▶ Is It Time to Increase Yamana Gold?   [Sep-13-18 01:27PM  GuruFocus.com]
▶ Here's Why These Gold Stocks Lost Their Luster in August   [Sep-12-18 04:01PM  Motley Fool]
▶ Better Buy: Yamana Gold Inc. vs. Eldorado Gold   [Aug-02-18 08:50AM  Motley Fool]
▶ Yamana Gold Celebrates Its 15th Anniversary   [Jul-31-18 08:30AM  GlobeNewswire]
▶ Here's Why Yamana Gold Rose as Much as 13.8% Today   [Jul-27-18 03:24PM  Motley Fool]
▶ Yamana Gold Inc. to Host Earnings Call   [07:00AM  ACCESSWIRE]
▶ Yamana Gold Provides Mid-Year 2018 Exploration Update   [Jul-26-18 05:05PM  GlobeNewswire]
▶ Yamana Gold Declares Third Quarter Dividend   [04:38PM  GlobeNewswire]
▶ Yamana Gold Earnings Preview   [07:40AM  Benzinga]
▶ 5 Gold Stocks to Buy if a Bottom Is In   [Jul-12-18 10:15AM  InvestorPlace]
▶ Theres Too Many Reasons Not to Chase Goldcorp Stock   [Jul-09-18 06:45AM  InvestorPlace]
▶ Is Yamana Gold Inc. a Buy?   [Jul-03-18 09:35AM  Motley Fool]
▶ Yamana Gold Declares Commercial Production at Cerro Moro   [Jun-26-18 08:01AM  GlobeNewswire]
▶ Where Will Yamana Gold Inc. Be in 1 Year?   [Jun-07-18 08:48AM  Motley Fool]
▶ Are Investors Overlooking Yamana Gold Stock?   [Jun-05-18 06:03AM  Motley Fool]
▶ Is Goldcorp Inc. (GG) a Buy?   [May-31-18 08:46AM  Motley Fool]
▶ What Investors Need to Know About Yamana Gold Stock   [May-11-18 09:15AM  Motley Fool]
▶ 7 Cheap Stocks With Strong Technical Signals   [May-07-18 03:41PM  InvestorPlace]
▶ What Investors Need to Know About Agnico Eagle Mines   [May-06-18 03:09PM  Motley Fool]
▶ Yamana Gold Declares Second Quarter Dividend   [04:30PM  GlobeNewswire]
▶ Gold Is Doing Something We Haven't Seen in 5 Years   [Apr-16-18 09:36AM  Motley Fool]
▶ 13 Biggest Gold Mining Companies in the World   [08:45AM  Insider Monkey]
▶ Better Stock: Yamana Gold (AUY) vs. Goldcorp (GG)   [Apr-03-18 03:01PM  Motley Fool]
▶ Here's Why Yamana Gold Fell 15% in February   [Mar-13-18 01:08PM  Motley Fool]
▶ Yamana Gold Tumbles   [Feb-18-18 06:29PM  GuruFocus.com]
▶ Yamana Gold Inc. to Host Earnings   [06:50AM  ACCESSWIRE]
▶ Yamana Gold Provides 2018-2020 Outlook   [Feb-15-18 07:11PM  GlobeNewswire]
▶ Yamana Gold Declares First Quarter Dividend   [07:02PM  GlobeNewswire]
▶ Yamana Gold Q4 Earnings Preview   [10:41AM  Benzinga]
▶ Macquarie Upgrades Yamana Gold   [Feb-13-18 10:02AM  GuruFocus.com]
▶ Two die in Yamana Gold mine accident in Argentina   [Feb-02-18 09:40AM  Reuters]
▶ Better Buy: Yamana Gold Inc. vs. Eldorado Gold   [Feb-01-18 09:04PM  Motley Fool]

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